▶️ What Are “Frozen” Crypto Airdrops? | EP#476

Airdrops are very common now, but what’s much less common are frozen airdrop crypto scams. You may wonder how it’s possible to be scammed by receiving free crypto, but that’s just the beginning.

There are multiple variations of the “Frozen drop,” such as needing more crypto to transact, paying to unlock your crypto, or needing to go through a third party for some conversion. A few things they all have in common is, typically they give you a lot of crypto supposedly valued at a high price, it’s frozen and unable to used, and lastly you need to do something in order to acquire the full value you’ve been promised.

The idea is that you get so excited and operate in a euphoric state thinking you’ve been gifted thousands of dollars and so you’ll scramble through the small obstacles thrown your way, but then you end up losing tons of money in sketchy smart contracts or paying to “unlock” your crypto.

The main red flag is that you shouldn’t have to work for something after you receive it and you usually have to do some action to claim your crypto. Most legitimate airdrops require you to claim them yourself and don’t just give away crypto for free because the amount of transactions would cost an exorbitant amount of gas fees and it’s meant for marketing not breaking the bank. Also most legitimate airdrops will expire over time too.

Some of the frozen drops I’ve received and cover in this video are MNE, KICK, P2PS, and Deapy.org. These are just a few examples of ERC20 tokens, but this still applies to all smart chains out there.

Also do note that if you mention issues with Metamask or similar topics, there are now Twitter bot armies that show up and refer you to a fake scam Metamask support team. That’s a more obvious scam, but worth noting.

https://earni.fi/ is a great service for you to check for legitimate airdrops you are able to claim and I’ve previously covered it as well as interviewed the founder.

Have you ever been scammed in the cryptoverse? Have you ever received an airdrop? Have you encountered a frozen drop before? Let me know what you think about this in the comments below and don’t forget to subscribe!

Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated