Phishing NFT handouts are on the rise

Blockchain security agency Malwarebytes Labs believes that with the growing popularity of NFT, scammers are increasingly using the free giveaway of non-interchangeable tokens to obtain sido phrases.

Malwarebytes Labs has posted a report stating that there has been an increase in eirdrop (free token giveaways) phishing attacks targeting cryptocurrency and NFT owners.

An agency that specializes in blockchain protection has seen a significant increase in cases where scammers are trying to cash in on the hype surrounding the NFT collection associated with Yuga Labs’ BAYC Ape.

Malwarebytes has documented that the most common phishing tactic via airdrop involves the use of rogue websites posing as one of the legitimate platforms. Cybersecurity experts emphasize that “monkeys are certainly the most popular bait when it comes to airdrop phishing.

As an example, the agency cites a case in which scammers created a site that offered up to 10 NFT Bull & Ape. And when the user tried to get 10 NFTs, the user was asked for a Sid-phrase.

Malwarebytes warns of an increase in phishing giveaways under the slogan “Plug Your Wallet” when Twitter accounts with large numbers of followers impersonate popular projects such as Moonbirds, which offer NFT eirdrop.

As a case of fraud is uncovered, the scammers tend to shut down their Twitter accounts to avoid being detected. Malwarebytes Labs notes that sometimes projects warn about phishing. For example, the official verified Moonbirds account warned about scammers.

Malwarebytes Labs warns: don’t hand over sid-phrases to unverified companies to get NFT.