Scam alert: MetaMask Warns Users Of Deceptive March 31 Airdrop Rumors

MetaMask posted a warning on Twitter after coming across rumors of upcoming MetaMask snapshots, and airdrops on social media. Web3 wallet provider MetaMask has warned users about “false rumors” about alleged MetaMask airdrops that are believed to be circulating on social media.  

According to a March 28th tweet from MetaMask, there were “so many rumors” about a March 31st MetaMask snapshot or airdrop. 

Key Takeaways

• Web3 wallet provider MetaMask warned users about false rumors.
• MetaMask has debunked the upcoming airdrops.
• The latest rumor may relate to a “fireside chat” session with ConsenSys CEO. 
• Activity on MetaMask nearly tripled on the back of rumors.

@MetaMask TWEET

🚨There are quite a few false rumors going around about a MetaMask snapshot/airdrop/etc. on March 31.

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🙏

— MetaMask 🦊💙 (@MetaMask) March 28, 2023

“These rumors are not only false or they are dangerous. They give scammers and phishers a chance,”

warns MetaMask.  

The latest rumor may relate to a “fireside chat” session with ConsenSys CEO and Ethereum co-founder Joe Lubin at ETHDenver 2023 on March 14. later reportedly confirmed that the team intends to launch the token.  

Lubin also first hinted at the MetaMask token in a tweet dated November 8, 2021, stating: stay tuned.  

@Blockanalia TWEET

Not gonna happen jpm owns at least 10% of mm's controlling entity they dont want tokens on the balance sheet i bet

— Andrew T (@Blockanalia) November 8, 2021

@ethereumJoseph TWEET

Andrew, ConsenSys has thousands of tokens on our balance sheet. ConsenSys is vigorously controlled by its employees, which includes me. And we are driving towards decentralization of several of our projects. Wen $MASK? Stay tuned. Wen objective journalism, ser?

— Joseph Lubin (@ethereumJoseph) November 8, 2021

MetaMask has debunked the upcoming airdrops, but many of the community reactions indicate they want airdrops to come at a later date.  

Activity on MetaMask nearly tripled on the back of rumors. Data from DappRadar shows the number of transactions reached 21,460 on March 27 from a baseline of around 8,000.  

MetaMask has seen similar activity following rumors of an airdrop in November 2021 after both the Ethereum name service and Lubin recently mentioned the token.  

Scams like these are rampant in the cryptocurrency space, especially in the DeFi sector, where airdrops and yield farming are popular ways to attract new users. Fraudsters often create fake tokens and airdrops to lure in unsuspecting victims and steal their cryptocurrency.

To protect themselves from scams like these, cryptocurrency investors should always exercise caution and do their research before participating in any airdrop or sending cryptocurrency to unknown addresses.

They should also use reputable wallets like MetaMask and ensure that their wallets and browser extensions are up to date with the latest security patches.

MetaMask has also recommended that its users report any suspicious activity to the relevant authorities and contact the MetaMask support team if they have any concerns about their account security.

As the cryptocurrency market continues to grow and attract more mainstream users, it is likely that scams and fraud will become more sophisticated and widespread. Therefore, it is crucial for investors to stay vigilant and protect themselves from potential scams and fraud.

MetaMask’s warning about the fake airdrop scam highlights the importance of staying aware and cautious when dealing with cryptocurrency. By taking the necessary precautions and using reputable wallets and exchanges, investors can reduce the risk of falling victim to scams and fraud and protect their cryptocurrency investments.