Used Binance Airdrop? Beware – It Could Have Been Fake

Downloaded Binance to perform a Binance Airdrop? Your computer could now be infected by malware.

Preface

Binance Airdrop is often used as a marketing tool to distribute digital assets thus raising awareness of the existence of a particular crypto asset in the process. The Binance Airdrop process is also useful to diversify the number of people that hold a specific crypto asset.

Binance Airdrop often works in the following way:

1. A user holds a certain amount of cryptocurrency in his wallet.
2. A snapshot is taken to “save” the current state of a blockchain.
3. A certain percentage of certain tokens are then distributed to cryptocurrency wallets that hold more than X amount of a cryptocurrency at the time of the snapshot.

However, crypto enthusiasts will also be familiar with another truth – no matter if they use Binance airdrop or elect to use cold wallets to store their digital assets, they all run the risk of their devices and the data on them being compromised – in other words, hacked.

What are Threat Actors Doing in Regards to Binance Airdrop?

According to sources on the web, crypto enthusiasts are not the only ones with access to cryptocurrency. Malicious parties are tracking the process of crypto acquisition very closely and once the appropriate time comes, furnish them with crypto download links such as fake Binance, Binance Airdrop installers, or fake “cold cryptocurrency wallets” with some bitcoin inside of them.

If you come across such a scheme, beware – it’s all fake. Consider this:

1. You are watching a video on cryptocurrencies.
2. You finish watching the video and decide to delve into the comment section – a comment section riddled with malicious links.
3. Once you click on any link in the comment section, your browser will download a dll file that will scrape the infomation related to your operating system: the amount of RAM you have, the operating system you run, the make of your GPU – now, it’s all compromised. The file can also create backdoors to servers controlled by nefarious parties.
4. Now you’re “done” – an attacker will download a runtime and play around with malicious scripts that put your privacy, passwords, and your crypto wallet in further danger. That’s only the beginning – don’t forget the fact that you’ve probably used the computer to log into your university network and perform other actions, too. Are you sure your university account isn’t compromised?
5. The malware can also setup scheduled tasks to do all kinds of things from stealing credentials stored in a browser to manipulating keys in the registry. Sounds fun, doesn’t it? And it’s all thanks to that helpful crypto app you’ve just downloaded.

The YouTube Crypto Scam

As far as the comment section on socials is concerned, beware of people “sharing their seedphrases” too:

The way this scam works is as follows:

1. Hackers put a small amount of money into a wallet, then share its seed phrase via YouTube comments and the like.
2. Once you see the seed phrase (the “bait” an attacker has prepared for you) and are excited about some crypto but one thing that you don’t know is that there’s no money for fees associated with transactions that you must make to withdraw the money – there is no money for the so-called “gas fees”, making the withdrawal next to impossible.
3. You send some cryptocurrency into the wallet to be able to transfer the funds out of the attacker-controlled wallet into your own wallet.
4. The wallet controlled by the attacker is monitored by a bot that closely monitors the wallet and the moment anything monetary reaches the wallet, the bot “pulls out” all of the funds in the wallet, including your money. Now you’re out of money too!

You lost money again – and there’s no way you can return the money to your wallet. Not even if you ask the attacker nicely: that’s why you need to be so careful everywhere you go.

How to Secure Yourself From Such Threats?

To secure yourself from such threats, be very vigilant regarding the information you consume through the web: attackers are not sleeping, and neither should you.

If there is a possibility to do so, make sure to peruse free data breach search engines and make use of the BreachDirectory API: the search engine will keep you in the loop in regards to what data of yours is exposed in what data breaches and when, and the BreachDirectory API will let you implement the data existing in a free data breach search engine into your own application to achieve your security goals.

Additionally, make sure to register for data breach notifications today – data breach notifications will keep you in the loop whether your account is at risk of identity theft or not by notifying you of risks to your online well-being every month.

Regardless if you use data breach search engines or not, keep in mind that the crypto world is always hot – and attackers aren’t sleeping. Be vigilant just as much as they are, and until next time.

FAQ

What is Binance Airdrop?

Binance Airdrop is a process that diversifies the number of people that hold a specific crypto asset.

How Do YouTube Crypto Scams Similar to Binance Airdrop Work?

YouTube crypto scams work by attackers putting a small amount of money into a cryptocurrency wallet, then sharing its seedphrase via YouTube comments, and once anyone acts on that seedphrase and notices there are no gas funds to transfer the money out, their money gets stolen as soon as they add some of their own to cover the gas fee.

Why Should I Register for Data Breach Notifications?

Data breach notifications will keep you in the loop whether your account is at risk of identity theft or not by notifying you of risks to your online well-being. Register today!