Metamask warns of fake token launch campaign

1 year ago 821

Popular crypto wallet Metamask has warned of a fake $MASK token launch, as reported by the project’s Twitter account on March 28.

Metamask says there is no token launch

Metamask said that widespread rumors suggest that it will carry out an official token snapshot or airdrop on March 31. The project said that these rumors are “not only false but [also] dangerous” as they allow scammers and phishers to target crypto users.

Metamask software developer Dan Finlay, meanwhile, said that a “bunch of people who don’t know what they’re talking about” are responsible for the hype around the supposed airdrop. He warned that scammers “will probably be out in force around that day.”

The rumor seems to have originated around March 26 from a social media account by the name of “eezzy” before it was more widely circulated by Degenscan leader serp1337.

Those rumors cited supposed insider information to suggest that Metamask would snapshot user transactions on March 31 prior to a 2024 airdrop. It is not clear that the initial rumor was circulated with fraudulent intentions, as it did not request transfers to a specific address.

In any case, Metamask does not have a native token and has no immediate plans to launch one, despite all speculation and suggestions to the contrary.

Metamask token rumors aren’t new

A Metamask token has been rumored for some time. In fact, the possibility may have been originally spurred by the leader of Metamask’s parent company, ConsenSys.

In November 2021, ConsenSys co-founder and CEO Joseph Lubin seemingly hinted at a token launch by writing on Twitter: “Wen $MASK? Stay tuned.” Later, Decrypt reported in March 2022 that Lubin confirmed that Metamask intended to launch a token. That statement was subsequently picked up by several major sites as evidence for an upcoming launch.

The earlier statement seemingly resulted in at least one actual scam. Hundreds of users saw their funds stolen in December 2021 when attackers hijacked a decentralized exchange to make it appear that a WETH/MASK trading pair existed.

An unrelated Metamask scam involving address poisoning also occurred in January. The wallet, like many others, is also a frequent target for phishing campaigns.

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