Arbitrum Becomes New Victim for Scammers - News Time

Arbitrum Becomes New Victim for Scammers

  • Scammers are trying to capitalize on the complexity of crypto.
  • ARB token airdrop is set to launch on March 23.

Arbitrum’s upcoming ARB token airdrop appears to become a popular target for scammers. The community warns hundreds of Phishing scams targeted at tricking crypto users. 

On March 16, a post by Arbitrum’s official stated that the Airdrop will send out 10 billion governance tokens via token airdrop. It allows the holders to vote on the code changes. The airdrop is set for coming March 23. 

The development has let more than a few attempts from scammers to create a fake airdrop to target for stealing funds from victims. Blockchain security company posted on march 19, stated that it has found a website that impersonated the Arbitrum official website. Certik, a blockchain security firm pointed out the fake Twitter account of Arbitrum with the user name @arbitrum_launch.  

Reddit user Cryptomaximalist warned that “Scammers are hoping to capitalize on the complexity of crypto and users exited for free money.” They found a fake Twitter profile of Arbitrum with links to fake Arbitrum websites. They advised everyone to check and verify the user id and website before clicking. 

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