SCAMS

New Type of Scam on OpenSea! Airdrop of unknown NFTs, followed by high bids to lure victims to phishing websites

share
New Type of Scam on OpenSea! Airdrop of unknown NFTs, followed by high bids to lure victims to phishing websites

If you find an unknown NFT airdrop in your wallet and someone offers to buy it at a high price, do not rush to accept it out of greed. This could be a new type of NFT scam currently circulating in the market!

OpenSea Approves Transaction Mechanism

NFT developer foobar analyzed a new type of scam encountered on Twitter today, explaining the transaction approval process of OpenSea. Generally, after approving a transaction, OpenSea is authorized through an external contract to use the token contract, allowing the transfer of users' NFT and WETH to complete the transaction.

You can check the authorization on websites like Revoke or Debank. The images below show that after the transaction is approved, OpenSea gains access to the tokens and NFTs.

In this scenario, if the authorized secondary market is malicious, they can easily steal users' assets. However, if the market's security is confirmed, even if the traded NFTs or tokens are not secure, there is no risk of loss as there is no direct interaction with the token or NFT contract.

Beware of Strange Airdrops!

The scam discussed in this article involves unknown airdrops that entice users to sell at high prices. Where are the traps set that lead to users' asset losses?

Receiving an offer of 0.79ETH from an unknown airdrop

According to foobar, when users approve the contract to accept the offer, the offer is withdrawn, and an error message is received. The error message contains a URL that, when clicked, leads users to sign a malicious transaction, potentially resulting in asset theft if signed inadvertently.

These NFTs are proxy contracts that can be applied to other NFTs with the same logic.

The address collected a significant amount of ETH from 260 different addresses. These 260 addresses all created an NFT, which is the aforementioned proxy contract, to masquerade as a unique NFT collection to deceive users.

OpenSea Issues a Warning

Another Twitter user, ranlix.eth, provided an explanation for this phenomenon, stating that OpenSea immediately issued a warning when accepting the offer, indicating potential issues with the token contract.

In conclusion, when encountering similar situations, do not easily authorize contracts, as greed can lead to unexpected losses.