Topic: Caution to connecting your wallet to unverified/unknown website (Read 109 times)

Do not connect your wallet to any website, even if you think the website/project is legitimate, the moment you either connect your wallet to this sort of website or enter your seed phrase anywhere, consider that wallet compromised and if you haven't already lost your funds, you should move it to a newly created wallet.

If you must participate in airdrops or bounties, use a new wallet all of the time, address reuse is bad enough, thus use different addresses or wallets for your bounty hunting or airdrop hunting, and don't combine it with your main stash.

That's a common case and also there is another case in which you can receive an airdrop directly to your wallet without connecting the wallet they randomly send airdrops to all of their victims. Once you receive this token in your wallet like other newbies they eagerly look for a way to exchange or swap but they don't know that's a trick to push you to an unknown website with some script to steal all your funds from Metamask. It happens to me but I'm lucky that I only have a small amount of BNB. The value of the token is the reason why I was attracted to swap it but it ended up the value is fake.

This is a great piece of advice, but OP I will like add that even if it is a verified website it is still bad to connect your wallet to. Connecting wallet to a site as official made your wallet to be on the internet or online as we call it and the most important aspect of keeping one’s funds save on wallet is to make sure it is totally offline, that is why even the reputable wallets are actually advised to be on airgapped device because not that the wallets will actually comprise your funds but it might get exposed to hackers through malwares if it is a wallet or the website might be hacked and then all information stolen from them, the risk is just similar to that of centralized exchanges


Although airdrops entirely is not worth the stress but this is certainly the best piece of advice for anyone engaging in this similar airdrops. Aside not only using a different Wallet entirely if it is possible use a very different device to avoid any form of malware been caught on that device.

Airdrops requiring gas fees has long time been a way that shitcoin developers have used to scam people. They make them go through various airdrops and waiting periods when they final list they shit coins they require gas fees to able to withdraw after having enough gas fee deposits they simply just pull the rug or dump the project. This scam looks simple to identify but seriously it is still around getting more victims

I was a victim of this trick through an airdrop I applied for. Since my wallet was hacked it has made me deploy a strategy that anytime I'm applying for any airdrop I should use a separate wallet entirely, and I stopped applying for any airdrop that we required me to connect to their website and pay a little fee to claim my airdrop.

It's not just in crypto about this saying "there's no such thing as free money" fit because it is also the same in real life to most people. The best solution for that is to avoid it completely but if you want to earn profit or getting FOMO (fear of missing out) then it should be in small amount only that you are willing to risk and still have some money left to buy crypto like Bitcoin which already existed for a long time unlike new NFTs or tokens which isn't sure that it will be a success or isn't a scam project.

This topic may not look new to old investors in the crypto space. But as we know that new people are accepting and using bitcoins, I think it is good if we go over this discussion again.

As the topic suggest, as a new person in the crypto space, you must be aware that there is nothing called free money in cryptocurrency. I believe you have read topics on this forum that talks on scams, that's very good. Bitcoin in itself is good and purposefully invented but you must know that, when something good comes up, some unscrupulous people will take advantage of it to make people cry.

Dont be excited or over excited as the case maybe if you find free tokens or NFTs in your wallets. Many have been scammed since they think they are lucky to Recieve such an amount of gift from an unknown source. This is nothing than a trap to reap you off your bitcoins/crypto. Once you hit the link and you connect your account to there website, consider your funds gone. This is an old method that is still in use, and new investors fall for the trick.
Investors who engage in airdrop, bounties are major victims. Before connecting to a Website, make sure its a verified one.