Lately, a lot of blockchain projects on Ethereum have been ‘airdropping’ tokens in the wallets of users. This is done to either spread the distribution of tokens or to advertise the token to users.

The amount of airdropped tokens you receive depends (in a lot of airdrops) on how much Ether (ETH) you had at a specified block. Some airdrops drop the same amount of tokens to everyone. In most cases, projects like decentralized exchanges or NFT platforms distribute tokens to their early adopters, investors, and supporters. That is known as Retroactive Airdrops.

That said, your Ethereum address is public on the blockchain, which means that anyone is able to send you ETH and/or tokens. If you want to find more information about airdropped tokens you received in your wallet, you can look them up on the internet for more information.


Airdrop Scams:

Because token creators have the ability to airdrop their tokens to a wide range of addresses, even all existing wallet addresses, that means that random, unsolicited tokens can appear in your wallet without your knowledge. The token itself doesn’t negatively affect the wallet or the overall security, however, it can be used in a way that can.

For example, scammers can create a DApp or another crypto platform where they will offer to trade the airdropped tokens for tokens with higher value. However, to do that you would need to connect your wallet to this platform and give certain permissions, which then gives the scammers access to move all of your assets out.

That’s why it is always a good rule of thumb to be aware of the approvals and permissions that you accept for DApps or any other crypto platform BEFORE agreeing to them. Whenever a DApp requests that you sign a message, carefully consider whether you trust it, and avoid interacting with NFT platforms or exchanges that you are not familiar with.


Best practices:

  1. Always use a well-known secure wallet.

  2. Never give your Private key or Mnemonic phrase (seed phrase) to anyone for any reason.

  3. Double-check URL’s and certificates of websites. Make sure that they are trusted and secure.

  4. Be vigilant when it comes to interacting with people claiming to be ‘Customer Support’. Please remember that your recovery information will never be needed in order to assist you.

For more information about all things tokens, please see our Ethereum tokens 101 article on MEWtopia!


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