Chinese authorities have apprehended an individual suspected of engaging in identity forgery in connection with the StarkNet (STRK) airdrop. The suspect allegedly assumed the identities of others and completed more than 40 fraudulent Early Community Member Program (ECMP) airdrop forms, claiming over 40,000 STRK tokens that originally belonged to the victims. After the airdrop, the suspect transferred the stolen tokens to an OKX wallet, where they were converted into over $91,000 worth of Tether (USDT), as reported by a local media outlet on April 30.
The suspect, identified as Lan Mou, was arrested on April 25 in the Guangdong Province. The authorities seized a computer and two mobile phones during the arrest. While scams and phishing attacks are common in the cryptocurrency industry, this case of identity theft for claiming airdrops on such a large scale appears to be unprecedented.
A crypto airdrop is a method of distributing new cryptocurrency, typically to early users who have interacted with a specific protocol. The StarkNet Foundation, which supports the Ethereum layer-2 Starknet network, launched a massive airdrop of 700 million STRK tokens on February 20. The airdrop aimed to reward Ethereum solo and liquid stakes, Starknet developers and users, as well as projects and developers outside the Web3 ecosystem. The initial 45 million STRK tokens were claimed in less than 90 minutes, indicating significant interest in the airdrop.
It is worth noting that on February 20, a developer known as Banteg from Yearn.finance cautioned that the eligibility list for the StarkNet airdrop primarily consisted of airdrop squatters. These are individuals who specialize in farming protocols with incoming airdrops in the hopes of financial gain. According to the developer, approximately 701,544 of the 1.3 million eligible wallet addresses were allegedly associated with repeat or renamed GitHub accounts controlled by airdrop squatters. These individuals often farm the same airdrop using multiple addresses to maximize their rewards.
In March 2023, it was revealed that airdrop hunters had consolidated $3.3 million worth of tokens from the Arbitrum (ARB) airdrop into just two wallets they controlled. This highlights the potential for abuse and manipulation within the airdrop ecosystem.
Crypto scammers should be cautious as there is a growing presence of crypto vigilantes who aim to expose and combat fraudulent activities in the industry.
Source: Cointelegraph