Tuesday, April 16, 2024

MetaMask warns of faux token launch marketing campaign


CoinDesk Consensus

Fashionable crypto pockets MetaMask has warned of a faux $MASK token launch, as reported by the undertaking’s Twitter account on March 28.

Metamask says there is no such thing as a token launch

MetaMask stated that widespread rumors recommend that it’ll perform an official token snapshot or airdrop on March 31. The undertaking stated these rumors are “not solely false however [also] harmful” as they permit scammers and phishers to focus on crypto customers.

MetaMask software program developer Dan Finlay, in the meantime, stated that a “bunch of people that don’t know what they’re speaking about” are chargeable for the hype across the supposed airdrop. He warned that scammers “will in all probability be out in power round that day.”

The rumor appears to have originated round March 26 from a social media account by the title of “eezzy” earlier than it was extra broadly circulated by Degenscan chief serp1337.

These rumors cited supposed insider info to recommend that MetaMask would snapshot consumer transactions on March 31 previous to a 2024 airdrop. It isn’t clear that the preliminary rumor was circulated with fraudulent intentions, because it didn’t request transfers to a selected deal with.

In any case, MetaMask doesn’t have a local token and has no instant plans to launch one, regardless of all hypothesis and options on the contrary.

Metamask token rumors aren’t new

A MetaMask token has been rumored for a while. In truth, the chance might have been initially spurred by the chief of MetaMask’s mum or dad firm, ConsenSys.

In November 2021, ConsenSys co-founder and CEO Joseph Lubin seemingly hinted at a token launch by writing on Twitter: “Wen $MASK? Keep tuned.” Later, Decrypt reported in March 2022 that Lubin confirmed that MetaMask meant to launch a token. That assertion was subsequently picked up by a number of main websites as proof for an upcoming launch.

The sooner assertion seemingly resulted in at the least one precise rip-off. A whole bunch of customers noticed their funds stolen in December 2021 when attackers hijacked a decentralized trade to make it seem {that a} WETH/MASK buying and selling pair existed.

An unrelated MetaMask rip-off involving deal with poisoning additionally occurred in January. The pockets, like many others, can also be a frequent goal for phishing campaigns.

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