Skip to content

Latest commit

 

History

History
9 lines (6 loc) · 934 Bytes

20.md

File metadata and controls

9 lines (6 loc) · 934 Bytes

Airdrop Exploits

Description

Occasionally, an existing NFT project may attempt to sustain its hype or drive up NFT prices by initiating an airdrop for more project rewards to its community. They tend to work by taking a “snapshot” – a record of who owns what or how many tokens at a given point in time – and then distributing the new crypto assets accordingly. NFT-specific airdrops may work on a “tokens-per-NFT” basis. These allow users to claim an airdrop based on their ownership of an NFT within a specific collection.

Depending on how they are coded or organized, exploiters may find ways to participate in airdrops to which they are not entitled or claim more tokens/NFTs than intended. Botched airdrops are common across the wider crypto asset space and are not limited to NFTs

References:

https://www.cybersecasia.net/news/malicious-airdropped-nfts-lead-to-theft-of-hundreds-of-thousands-of-dollars