Cryptocurrency holders warned of hacker activity ahead of large-scale airdrop

Cryptocurrency fraudsters have become more active ahead of the distribution of ARB tokens from Arbitrum, which will take place on March 23.

According to Redefine experts, the fraudsters have also created a copy of the real Arbitrum website, where users are asked to provide access to their funds. By agreeing to a smart contract when connecting a wallet, investors, without realizing it, give hackers the opportunity to steal assets from their wallets.

The Web3 Scam Sniffer analytical platform has identified more than 273 phishing sites related to the distribution of ARB tokens. However, it is predicted that their number may increase even more today and tomorrow.

The Arbitrum Foundation is expected to distribute 10 billion governance tokens, which will allow their holders to vote on changes to the codes of the Arbitrum One and Nova networks. Users who can receive ARB will be determined using a specially developed scoring system. It is expected that the list of token holders will include those who have completed more than four transactions or interacted with at least four Arbitrum One smart contracts, as well as those who have contributed more than $ 50,000 of liquidity to Arbitrum.

Members of the Arbitrum community have been waiting for the token to be released for six months — it was originally expected to appear in the fall of 2022. However, the situation on the crypto market, in particular, the collapse of the FTX crypto exchange, has postponed the plans for the release of ARB. With a token volume of 10 billion, it is expected that the value of each token could range from $ 0.1 to $ 1.