Post
Topic
Board Beginners & Help
Merits 11 from 7 users
Topic OP
[Scam Alert] Beware of Airdrops that will drain tokens out of your address.
by
Bitcoin_Arena
on 25/07/2021, 00:43:15 UTC
⭐ Merited by DdmrDdmr (3) ,vapourminer (2) ,JayJuanGee (2) ,igehhh (1) ,ETFbitcoin (1) ,noorman0 (1) ,o48o (1)
Some hours back, there are users who have lost funds due to a scam airdrop that exploits Thorchain's code base

In this sort of attack the hacker airdrops the malicious tokens to several addresses of the would be victims. In this case the malicious token that was airdropped was UNI Holding (UniH) tokens

Once the victim tries to authorize the airdropped token in order to exchange it, the victim’s address instantly gets drain off other tokens if they available in the same address. In other words, the hacker will transmit tokens from your wallet to his address without needing any private keys or seeds.

Around 2,500 ETH was lost due to the attack according to https://www.runebase.org/news/thorchain-suffers-exploit
Some traders also lost RUNE tokens - https://etherscan.io/address/0x6d2edb2f2a377ca9677095d01402de92b0d7c26d#tokentxns

Ways to avoid Airdrop scam losses

1. Avoid participating in airdrops at all and giving out your sensitive details like email addresses and wallet addresses.

2. If you must, use fresh address for each airdrop and token.

3. If you receive a questionable token in you address yet you never participated in any airdrop program, abandon the address and move your tokens to a fresh one. Do not move the suspicious token to an exchange and try to exchange it with the other tokens still in the wallet.

4. Avoid shit projects. Do due diligence.

Links for more details:
- https://www.runebase.org/news/thorchain-suffers-exploit
- https://www.cryptoknowmics.com/news/scam-alert-after-approval-of-this-airdrop-cryptocurrency-wallets-deflate
- https://twitter.com/THORmaximalist