{"id":12262,"date":"2024-04-04T10:24:46","date_gmt":"2024-04-04T07:24:46","guid":{"rendered":"https:\/\/forklog.com\/en\/wormhole-airdrop-draws-scammers-token-w-drops-20\/"},"modified":"2024-04-04T10:24:46","modified_gmt":"2024-04-04T07:24:46","slug":"wormhole-airdrop-draws-scammers-token-w-drops-20","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/wormhole-airdrop-draws-scammers-token-w-drops-20\/","title":{"rendered":"Wormhole Airdrop Draws Scammers, Token W Drops 20%"},"content":{"rendered":"<p>On April 3, the cross-chain protocol Wormhole <a href=\"https:\/\/forklog.com\/en\/news\/wormhole-distributes-617-million-w-tokens-in-airdrop\">conducted an airdrop<\/a> of its W token, which was subsequently listed by many <span data-descr=\"centralized exchanges\" class=\"old_tooltip\">CEX<\/span>. However, the airdrop attracted significant attention from scammers, adversely affecting the token&#8217;s price. <\/p>\n<p>According to on-chain investigator ZachXBT, the official announcement from developers was flooded with &#8220;tons&#8221; of phishing attempts from fraudulent accounts, many marked with &#8220;gold checkmarks.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Claim your W<a href=\"https:\/\/t.co\/GxyfY14hJd\">https:\/\/t.co\/GxyfY14hJd<\/a> <a href=\"https:\/\/t.co\/ucUq2ahcUt\">pic.twitter.com\/ucUq2ahcUt<\/a><\/p>\n<p>\u2014 Wormhole (@wormhole) <a href=\"https:\/\/twitter.com\/wormhole\/status\/1775486795658006733?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The official X account of Wormhole co-founder Robinson Burkey was also compromised. Hackers likely breached his account and began posting malicious links. Following the incident, Burkey&#8217;s page was made private. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/8f5Iq2MNORPK4y77kd52Gfuqxs4nJ7mxPAyUtNEGguQiZWvgUjYVt8uzsJe2wx4jmY0PuQfIIOmuY12O2NsMMZ2EJfquLM23mwNYFTj5DYNfc4FPNevOhR6-PU0dLGfwYXd8mCueZ53iGiavY1XZKIs\" alt=\"Wormhole Airdrop Draws Scammers, Token W Drops 20%\"\/><figcaption class=\"wp-element-caption\">Scam post by Burkey on X. Source: <a href=\"https:\/\/cointelegraph.com\/news\/wormhole-airdrop-attracts-scammers-spoof-tokens-three-billion-valuation\">Cointelegraph<\/a>.<\/figcaption><\/figure>\n<p>Developers of the security browser extension Pocket Universe noted that their application is blocking &#8220;hundreds&#8221; of scam comments under the original Wormhole airdrop claim post. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;re blocking hundreds of scam comments under the <a href=\"https:\/\/twitter.com\/wormhole?ref_src=twsrc%5Etfw\">@wormhole<\/a> airdrop claim<\/p>\n<p>elon pls <a href=\"https:\/\/t.co\/hjOCFXInIY\">pic.twitter.com\/hjOCFXInIY<\/a><\/p>\n<p>\u2014 Pocket Universe ? (@PocketUniverseZ) <a href=\"https:\/\/twitter.com\/PocketUniverseZ\/status\/1775566359512129682?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Additionally, the airdrop inspired some users to create meme tokens. The capitalization of the parody coin Warmhole surged from $100,000 to $1.2 million within a day, with its prices <a href=\"https:\/\/dexscreener.com\/solana\/EbxgZHFamegMuvZgp9NJWJQYy4w3KbhQGr9uowLVEFpk\">soaring by 1383%<\/a>. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/5gPXp25Vx0K72eyNyFZWF0fBws9IJsmCkHAFElREaASgukuKuj8N7O6XXMhDcFPs5z4bbbZ77aMP76LIbhRA-XDQmTvD8LIynT1OJo2YYJEYVuPQQyy588DsWuJ7A4ZbmRN5NvCn-_QQ5YcA-ZqK3V8\" alt=\"Wormhole Airdrop Draws Scammers, Token W Drops 20%\"\/><figcaption class=\"wp-element-caption\">15-minute chart of W\/USD on Raydium exchange. Source: DEX Screener. <\/figcaption><\/figure>\n<p>One user joked that if Wormhole airdrop recipients had exchanged their new W tokens for this meme coin, they would have become billionaires.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If you sold your $5k wormhole airdrop for Warmhole this morning you\u2019d be a billionaire right now<\/p>\n<p>\u2014 David G ? (@d_gilz) <a href=\"https:\/\/twitter.com\/d_gilz\/status\/1775644342662857122?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Researcher Pland stated that the Wormhole team forgot to exclude certain addresses eligible for the airdrop, which were linked to a $319 million protocol hack in February 2022. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Wormhole forgot to exclude the exploiter from the airdrop <a href=\"https:\/\/t.co\/xkkpDz9RAl\">pic.twitter.com\/xkkpDz9RAl<\/a><\/p>\n<p>\u2014 Pland (@Pland__) <a href=\"https:\/\/twitter.com\/Pland__\/status\/1775670448203649063?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to DEGEN NEWS, four hacker addresses could have claimed a total of 31,642 W, worth approximately $50,000. At the time of writing, these accounts have been removed from the claim eligibility list.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">NEW: 4 WALLETS CONNECTED TO THE <a href=\"https:\/\/twitter.com\/wormhole?ref_src=twsrc%5Etfw\">@wormhole<\/a> EXPLOIT ARE ELIGIBLE FOR ~$52.7K WORTH OF <a href=\"https:\/\/twitter.com\/search?q=%24W&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$W<\/a> CLAIM \u2014 PER <a href=\"https:\/\/twitter.com\/ZheSolworks?ref_src=twsrc%5Etfw\">@ZheSolworks<\/a> AIRDROP CHECKER<\/p>\n<p>H\/T: <a href=\"https:\/\/twitter.com\/Pland__?ref_src=twsrc%5Etfw\">@Pland__<\/a> <a href=\"https:\/\/t.co\/P7SFfzJPxS\">pic.twitter.com\/P7SFfzJPxS<\/a><\/p>\n<p>\u2014 DEGEN NEWS ?\ufe0f (@DegenerateNews) <a href=\"https:\/\/twitter.com\/DegenerateNews\/status\/1775687796323401834?ref_src=twsrc%5Etfw\">April 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The W token initially rose to a peak of $1.5 following the airdrop and exchange listings but later fell to $1.18, a 20% drop. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/AyaTB95sUKg5QinGWBMKj8zuW9qYpXGRBYdTxE358MEJq91Tz4IK4k8APZXXbcPKCQ786Ecge5UIR18C2sGl95McAVmbts2Y6MGh4GlcDT3iSjsSrA2srdT1nox4I5VNoVZU646hHt7XVM0OmhWkdpE\" alt=\"Wormhole Airdrop Draws Scammers, Token W Drops 20%\"\/><figcaption class=\"wp-element-caption\">5-minute chart of W\/USDT on Binance exchange. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/WUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/wormhole\">CoinGecko<\/a>, the asset&#8217;s market capitalization exceeded $2.1 billion with a trading volume of $1.4 billion. <\/p>\n<p>Back in November 2023, the cross-chain protocol closed a $225 million funding round, valuing the startup at $2.5 billion.<\/p>\n<p>Earlier, trading firm Jump Trading spun off Wormhole into a standalone business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 3, the cross-chain protocol Wormhole conducted an airdrop of its W token, which was subsequently listed by many CEX. However, the airdrop attracted significant attention from scammers, adversely affecting the token&#8217;s price. According to on-chain investigator ZachXBT, the official announcement from developers was flooded with &#8220;tons&#8221; of phishing attempts from fraudulent accounts, many [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,1210,1246],"class_list":["post-12262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-cross-chain-protocols","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12262"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12261"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}