Blur Scams on the Rise as Platform Gains Exposure

As the Blur NFT marketplace has gained notoriety, users are now warned to be on the lookout for scammers. Ever since the platform began distributing its $BLUR token, there has been a rise in fake airdrop websites looking to gain access to wallets and drain them of their contents.

Season 1 of Blur’s airdrop initiative ended on February 15, and since then scammers have stolen over $300,000 worth of funds from unsuspecting users. This is according to data from TrustCheck, an Ethereum-based Web3 security extension. All the funds were sent to the same address, and that’s how the security extension was able to keep track of how much was being stolen. In total, the team has identified 24 websites engaging in scamming activities.

#ScamAlert

There is a phishing scam going around promoting a fake @blur_io airdrop!

Thanks to our community for bringing this to our attention. Stay safe out there! #BlurAirdrop #Blur #SCAM pic.twitter.com/sbe6KrFtJp

— TrustCheck (@TrustCheckxyz) March 9, 2023

Unnervingly, these websites are hidden in plain sight, users can Google “Blur Airdrops” and be directed to malware-infested wallet draining websites. Despite continued outcry over Google running scam ads, not much has been done to remove them from the search engine results.

Blur Airdrop Scams Utilize Phishing Sites

Scams within the crypto and NFT space are nothing new, owing to a lack of regulation within the industry. Fraudsters have sought ways to capitalize on the increased popularity of non-fungible tokens by coming up with all sorts of schemes. The most common methods used to target unsuspecting individuals within the space include phishing schemes, bidding scams, pump and dump scams, and the existence of counterfeit NFTs.

The numbers involved are mind-boggling. For instance, a report by Elliptic, a crypto analysis protocol, indicates that the first half of last year alone saw over $100 million in NFTs stolen.

Scammers were able to steal an average of $300,000 per scam, with some of the most valuable NFT collections being heavily targeted. Unfortunately, one victim lost 16 blue-chip NFTs that were worth about $2.1 million at the time.

Like it is the case with Blur airdrop scams, phishing sites play the biggest role in targeting unsuspecting NFT holders.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.