Bitcoin Airdrop Scams: How To Protect Yourself from Phishing Attacks

Bitcoin Airdrop Scams cover image

The rise of the cryptocurrency deals with Bitcoin and its many alternatives has led to the creation of coordinated phishing attacks of the so-called “Bitcoin Airdrops”. The criminals behind the campaigns note that computer users seek various ways in order to gain cryptocurrency assets. This has proven to be one of the most successful strategies as the Bitcoin Airdrop Scam appears to be a preferred method of stealing the digital currency in the past few months. Our article describes some common scenarios that are used by the criminals.

Origins of the Bitcoin Airdrop Scams

To understand why Bitcoin Airdrop scams has become one of the most popular ways to deceive computer users first we need to consider what it is. By definition this is a way to gain cryptocurrency assets by participating in a giveaway. Airdrops are a form of donation from the relevant blockchain developers to the cryptocurrency community. They are planned in advance as a form of promotion that aims to generate interest and attempt to drive the relevant project’s value in a positive way.

The most common method to advertise them is the use of social media profiles, user groups and Telegram chats. The prospective users in some cases are requested to perform various actions such as sharing of posts or entering into discussions in order to be eligible for the airdrops. In some cases the airdrops are performed by services, sites and groups that are affiliated with the blockchain operators or the service owners. In these cases it is very likely that the users may discover a Bitcoin Airdrop scam.

We have identified several different types of Airdrops that are being served to the cryptocurrency community. Airdrops are popular with all forms of digital tokens and cryptocurrency and they can take various forms. This list shows (Read more...)

*** This is a Security Bloggers Network syndicated blog from How to, Technology and PC Security Forum authored by Martin Beltov. Read the original post at: