The Blur NFT marketplace has garnered significant attention lately, but users are being warned to exercise caution due to the proliferation of scammers. The $BLUR token distributed by the platform has attracted fake airdrop websites that aim to gain access to users’ wallets and drain them of their contents.
Season 1 of Blur’s airdrop program concluded on February 15, and since then, scammers have stolen over $300,000 from unsuspecting users. TrustCheck, an Ethereum-based Web3 security extension, has provided data that reveals all the funds were sent to the same address, making it easier to track the extent of the damage. The team behind Blur has identified 24 websites that are participating in scamming activities.
There is a phishing scam going around promoting a fake @blur_io airdrop!
— TrustCheck (@TrustCheckxyz) March 9, 2023
What’s alarming is that these websites are easily accessible via a simple Google search for “Blur Airdrops,” leading users to malware-infested sites that drain wallets. Despite ongoing complaints about Google allowing scam ads, little has been done to remove them from the search engine results.
Scams in the crypto and NFT space are not new, given the lack of industry regulation. Fraudsters have found ways to capitalize on the growing popularity of non-fungible tokens by devising various schemes. Phishing schemes, bidding scams, pump-and-dump scams, and the sale of counterfeit NFTs are the most common methods used to target unsuspecting individuals in the space.
The numbers involved are staggering. For example, a report by Elliptic, a crypto analysis protocol, revealed that over $100 million in NFTs were stolen in the first half of last year alone. Scammers were able to steal an average of $300,000 per scam, with the most valuable NFT collections being heavily targeted. Unfortunately, one victim lost 16 blue-chip NFTs worth about $2.1 million at the time.
As with the Blur airdrop scams, phishing sites play a significant role in targeting unsuspecting NFT holders. It’s crucial to exercise caution when interacting with any crypto or NFT platform and to be on the lookout for potential scams.