Reddit users have discovered a cryptocurrency airdrop scam designed to drain wallets.
Reddit users have spotted a dangerous crypto airdrop scam that claims to offer Shiba Inu funds to participants while depleting wallets.
Redditors uncover a sneaky SHIB scam
On January 26, 2022, Reddit users took to the r/CryptoCurrency subreddit to warn others about a potential Shiba Inu scam promoting a Shiba Inu airdrop. One of the main posts on the subject, written by user u/tmztmz2 included brief information about the scam. The author wrote that “There are reports if you actually click on the link it will try to connect your wallet”, and that “YOU WILL LOSE EVERYTHING” if the connection is successful.
Another Reddit user posted a message that “tens of thousands of bots are involved” in the airdrop scam, and also confirmed that “the link wants you to connect your wallet.” Scams that link crypto wallets are quite common and can give cybercriminals access to your funds. Once that happens, your wallet can be empty in seconds.
Many other users commented that they were randomly tagged in the post, while also being asked to tag three friends to spread the word about the fake airdrop. Another user suggested that scammers farm usernames to further promote the link.
The original AirDrop Reddit post is no longer available
Fortunately, the original post promoting this SHIB crypto airdrop scam appears to no longer exist. Many users urged others to report the post, which likely led to the takedown.
There may be subsequent posts sharing the fraudulent link on other subreddits, although no such reports have yet occurred.
However, if you clicked on this link, but your funds didn’t come through, it might be a good idea to move them elsewhere, as suggested by Reddit user u/tmztmz2 in their original post.
Crypto scams continue to rake in billions
Although the crypto market took a hit throughout 2022, scammers continued to target unknown individuals in order to get their hands on crypto funds. Billions have been stolen by scam artists over the past decade, and all kinds of investors and traders continue to fall for simple and sophisticated scams.
Whether it’s an airdrop scam, freebie scam, rug draw, phishing scam, or anything else, if you own crypto, you’re at risk of getting in in contact with a cybercriminal looking to steal funds.
Be sure to protect your crypto wallet at all costs
Signing up for an airdrop or giveaway can be tempting, but scammers often use the lure of free crypto to attract potential victims. If you are asked to link your wallet for any reason, you must first ensure that the platform you are using is completely legit and trustworthy. If a social media personality offers an airdrop or giveaway, be sure to check if the profile is verified before clicking anything. Small steps like these can help protect your crypto.