Reddit Users Discover Dangerous Shiba Inu Airdrop Scam

Reddit users have uncovered a cryptocurrency airdrop scam designed to drain wallets.

Reddit users have spotted a dangerous crypto airdrop scam that claims to offer Shiba Inu funds to participants while actually draining wallets.

Redditors Discover a Sneaky SHIB Scam

On January 26th, 2022, Reddit users took to the r/CryptoCurrency subreddit to warn others of a potential Shiba Inu scam promoting a Shiba Inu airdrop. One of the main posts regarding the subject, written by user u/tmztmz2 included brief information on the scam. The author wrote that “There’s reports if you actually click on the link it will try connecting your wallet”, and that “YOU WILL LOSE IT ALL” if the connection is made.

Another Reddit user made a post stating that “Tens of thousands of bots are involved” in the airdrop scam, and also confirmed that “the link wants you to connect your wallet.” Scams that link crypto wallets are fairly common and can give cybercriminals access to your funds. Once this happens, your wallet can be drained in seconds.

Many other users commented that they had been randomly tagged in the post, while also being urged to tag three friends to spread the word about the phony airdrop. Another user suggested that the scammers were farming usernames to promote the link further.

The Original AirDrop Reddit Post Is No Longer Available

screenshot of reddit error page

Fortunately, the original post promoting this SHIB crypto airdrop scam seems to no longer exist. Many users have urged others to report the post, and this has likely resulted in the takedown.

There may be subsequent posts sharing the scam link on other subreddits, though no reports of such have occurred as of yet.

However, if you have clicked on this link, but your funds haven’t been taken, it may be wise to move them elsewhere, as suggested by Reddit user u/tmztmz2 in their original post.

Crypto Scams Continue to Rake in Billions

Though the crypto market took a hit throughout 2022, scammers have continued to target unknowing individuals in order to get their hands on crypto funds. Billions have been stolen by scammers over the past decade, with all kinds of investors and traders continuing to fall for both simple and sophisticated scams.

Whether it’s an airdrop scam, giveaway scam, rug pull, phishing swindle, or anything else, if you own crypto, you may be at risk of coming into contact with a cybercriminal looking to steal funds.

Be Sure to Guard Your Crypto Wallet at All Costs

Signing up for an airdrop or giveaway may be tempting, but scammers often use the lure of free crypto to attract potential victims. If you’re ever asked to link your wallet for any reason, you should first ensure that the platform you’re using is totally legitimate and trustworthy. If a social media personality is pushing an airdrop or giveaway, make sure you check whether the profile is verified before clicking on anything. Small measures like these can help keep your crypto safe.

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