Wormhole’s gigantic airdrop has been the talk of the town since yesterday, and unsurprisingly attracts a lot of scams. What do they look like and how to protect yourself
Scams based on Wormhole’s airdrop
Unfortunately, this is a common occurrence in the ecosystem. When an airdrop occurs, it’s accompanied by scam attempts by ill-intentioned people. Wormhole’s airdrop, which will distribute $850 million at the current price, was therefore unsurprisingly a target.
Wormhole founder Robinson Burkey suffered a hack on his X account. The latter published messages promoting an additional fake airdrop. In addition, other X accounts, sometimes with variations of the “Wormhole” name, have also been created and are targeting users.
A typical example of a scam designed to deceive users
We therefore urge users to exercise extreme caution. To be sure you’re on the right airdrop page, we advise you to visit the official Wormhole website. In addition, any publication promising a second airdrop, or an extension of eligibility conditions, should be treated with suspicion.
You should also be wary of fake tokens that appear to be linked to Wormhole. These claim to have been launched by the project’s teams, but this is of course not the case. We’ve also seen the emergence of memecoins: one of them, the “Warmhole”, took over 80,000% in the space of 6 hours. So the atmosphere around the Wormhole airdrop isn’t particularly well-reasoned
The W token is now in circulation
Wormhole’s airdrop was aimed at releasing its new governance token, the “W”. The token was priced at $1.50 in anticipation of the launch. A day later, it is trading at around $1.20. Of course, we’ll have to wait several weeks before we know the threshold at which the token’s price will stabilize.
Wormhole meets a growing demand in the crypto ecosystem: that of interoperability. Since its creation in September 2021, the protocol has enabled the transit of nearly $40 billion in assets. With the emergence of layer 2, and now layer 3, it is possible that services of this type will occupy a prominent place in the years to come.
