The crypto community is extremely enthusiastic about the upcoming “ARB” token from Arbitrum, the Ethereum layer-2 scaling solution, but scammers have also taken advantage of this announcement to prey on the unsuspecting to access their decentralized wallets.
Redefine, a blockchain security firm said on March 19 that it has identified a website faking the real Arbitrum airdrop website. Screenshots show that the website requests users’ permission to access their assets, which might allow them to empty their balances.
This website https://arbitrum.drops[.]bio/ impersonates an official @arbitrum airdrop website.
Beware of scams that exploit the $ARB airdrop by tricking unsuspecting victims into joining a fake airdrop.
Don't interact with this website.
Stay safe! #DeFi pic.twitter.com/VhHvQPFt8o
— Redefine (@Redefine_crypto) March 19, 2023
The blockchain security firm CertiK also discovered a fraudulent Arbitrum Twitter account with the handle “@arbitrum_launch,” which advertised a token airdrop.
Be aware of a fake @arbitrum Twitter account which is advertising a token Airdrop.
Do not interact with this Airdrop.
Always verify Twitter accounts and URLs from trusted sources.
Stay vigilant! pic.twitter.com/gTlSNRzd6l
— CertiK Alert (@CertiKAlert) March 19, 2023
Similar to this, Scam Sniffer, a Web3 anti-scam tool, reported on March 17 that it had discovered over 273 Arbitrum-related scam sites since the token airdrop was announced, with the number expected to rise before the official airdrop on March 23.
Several online security services have discovered phony “Arbitrum” websites and Twitter profiles with connections to ARB token airdrops, warning users to thoroughly check a user’s profile and history before interacting with any links they posted.
Upcoming Arbitrum airdrops garner support from the community
Arbitrum’s airdrop is perhaps one of the most anticipated events in the crypto market in recent months. The wait is now over, though.
According to documentation released by the team, the airdrop will take place on March 23rd, but users can already check their eligibility, and their precise claim to ARB tokens is accessible on the Arbitrum Foundation’s official website.
Moreover, a point system will determine how many tokens each user will receive; to be eligible, you must have at least three points. The most tokens that may be allocated to a single address is 10,200.
The aim of this airdrop is to provide Arbitrum users with $ARB tokens. In addition to being a “thank you,” it marks the start of decentralized governance for Arbitrum.
The ARB token will have an initial supply cap of 10 billion. 11.62% of it (1.162 billion tokens) will go toward the airdrop, while 1.13% will be distributed to DAOs that contributed to the development of Arbitrum apps.
Many prominent exchanges have recently announced the listing of ARB coins, including MEXC Global, Huobi Global, and Bybit.