Home
News
Rumors of a possible MetaMask governance token airdrop have been spreading on Crypto Twitter for quite some time. Scammers appear to be taking full advantage and have succeeded to attract a couple of hundred people into their scams.
MetaMask is one of Ethereum’s most popular non-custodial wallets, and it played an important part in the 2020 Defi summer season.
About Metamask
MetaMask is a cryptocurrency wallet that works as a plug-in for popular browsers like Chrome and Firefox.
It allows users to manage, transfer, and receive Ethereum and ERC-20 tokens without having to download the whole blockchain.
In addition to storing digital currency, MetaMask allows users to interact with smart contracts and decentralized apps without the need for a complete Ethereum node.
ConsenSys, a Brooklyn-based blockchain software startup focused on Ethereum-related tools and infrastructure, created the cryptocurrency wallet in 2016.
One of MetaMask’s primary features is the usage of a 12-word phrase that must be kept secure or memorized by the user in the event that a password is forgotten.
Metamask got rug-pulled
Customers are already predicting that MetaMask would do an airdrop, and many appear to believe that their photos will be taken in a couple of days — on New Year’s Eve.
However, as of yet, those are only rumors and suspicions because MetaMask hasn’t publicly shown anything else
That is where scammers enter the picture. The day before this, someone produced a fake MetaMask governance token with the MASK ticker and listed it for purchase and sale on Uniswap.
According to one Twitter user, when around $1 million of the token was acquired, gross sales were locked in, and “they’ll most likely twister money out the cash, same to how they take the early cash to finance liquidity.”
Several clients have also claimed to be scammed as a result of this.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
