On one fateful evening, I found the results of my Crypto investments.. I was rich overnight, *spoiler alert* I was not rich. My euphoria disappeared once I noticed the marketcap of the coin is less than the value on my wallet.
So a question came to my mind, what is the endgame here? is it by mistake? Then I got into digging into this and with the help of redditors in r/cryptocurrency turned out this was a trending attack. Some people refer to this as a dusting attack but that’s an attack for some other post, lets refer to this as DJ K attack :)
You will notice this coin in your wallet which suddenly appears with huge value, then you will head out to check the price of coin most probably “poocoin.app” and you’ll see something like below.
poocoin chart
Well lets go through the red flags, First unlocked wallets holding the LP(Literally in red). Then the coin name is a “Domain Name” like TheEver.io, AlpacaFin.com which will lead you to a claim site(More about this later). Next you can check comments in bscscan check if someone already got burned. Those pointers would be more than enough for you to spot the scam.
So the endgame of these scammers are leading you to their website and make you give them permission to your crypto wallet, and BAM all the funds will be withdrawn.
claim site
When evading social engineering below pointers might come in handy,
- No one will give you free money.
- If it sounds too good to be true, it is.
- Never give untrusted 3rd party apps permission to your wallet.
- Keep a seperate burner wallet for airdrops and give aways.
If you already have these kind of coins its not possible to remove them from your wallet, but you can use this nifty little site to hide them while tracking the portfolio value of your BSC tokens called flooz.
AlpacaDrop scam drop
And incase of a suspicious token, you can use the same tool for investigations by selecting charts.
Coin Name with a website
Hope you stay safe out there.