Scam Alert: FXS Fake Airdrop Launched as Token Gains 60% in Week

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In recent days, a fraudulent promo campaign has gained traction in Twitter. Someone is impersonating the team of Frax Finance (FRAX) and is pretending to distribute its reserve token, Frax Share (FXS).

The account on Twitter is named "Fraxfinace" instead of "Frax Finance." It is aggressively promoted, commented and retweeted by bots with ENS-style .eth names. Participants of the airdrop are invited to visit the website and claim their rewards. Most likely, the scammers are targeting sensitive information: passwords, seed phrases or credit card data.

Both the website and Twitter account were created on Jan. 16, 2023. Per data from public whois-services, the airdrop website was registered by a Seychelles-incorporated firm.

(By Vladislav Sopov)

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