MetaMask, a popular Web3 wallet provider, has issued a warning to its users about rumors circulating on social media regarding an imminent AirDrop.
Reports of the AirDrop have been circulating on Twitter, with some users falling for the scam.
What Happened: Cryptocurrency influencers have published guides on how to participate in the AirDrop, leading to an increase in activity on MetaMask.
Bad actors were likely motivated to spread rumors about the AirDrop after ConsenSys CEO Joe Lubin appeared in an interview at ETHDenver earlier this month, where he revealed that his team was looking to launch a token in line with the firm’s push toward decentralization.
Lubin first hinted at a MetaMask token in a Nov. 8, 2021 tweet, saying “Wen $MASK? Stay tuned.”
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Several Twitter accounts pretending to be the official MetaMask account have been posting links for people to participate in the “MASK” token AirDrop, with most of these fake accounts luring people in for an AirDrop on March 31. MetaMask took to Twitter to state that all rumors about airdrops and snapshots are false, in a tweet that said: “These rumors are not only false, but they are dangerous. They create opportunities for scammers and phishers. Please be on the lookout for fake sites in the coming days.”
According to DappRadar, activity on MetaMask more than doubled following the rumors about the MASK AirDrop, with daily transactions going from 8,600 on March 25 to 21,000 on March 27.
The trading volume also doubled during that period.
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