The Ethereum layer-2 scaling solution, Arbitrum, is set to launch an airdrop of its governance token “ARB” on March 23. However, scammers have already started targeting the community with hundreds of phishing scams. The community has raised concerns about fraudulent airdrops aimed at tricking crypto users.
The Arbitrum Foundation announced the airdrop on March 16, which will see 10 billion governance tokens distributed to holders to vote on code changes. The development has led to scammers setting up fake token airdrops with the intention of stealing funds from unsuspecting victims.
Blockchain security firms Redefine and CertiK have warned about the fake websites and Twitter accounts impersonating the official Arbitrum airdrop. Meanwhile, a Reddit user warned the community to check user profiles before clicking on shared links to avoid falling prey to scams.
Web3 anti-scam tool Scam Sniffer reported detecting over 273 phishing sites related to Arbitrum since the announcement of the airdrop, with more expected to arise before the official drop.
The Arbitrum Foundation used a points system to determine who qualifies for the airdrop and how many tokens they can claim. Blockchain analytics firm Nansen revealed that out of over 2.3 million wallets bridged on the Arbitrum One chain, only 625,143 are eligible for the airdrop.
The community is advised to remain vigilant and not interact with any suspicious websites or Twitter accounts. It is essential to verify user-profiles and history before clicking on shared links to avoid falling prey to scammers.