Ukraine Government Cancels Airdrop After Reports of Phishing Threat, Now Plans to Launch NFT

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Ukraine Government Cancels Airdrop After Reports of Phishing Threat, Now Plans to Launch NFT By Hannah Perez

The deputy prime minister of Ukraine announced the change of plans after a deceptive token appeared that masqueraded as the anticipated airdrop.


The Ukrainian government has abruptly canceled plans to airdrop (free distribution of tokens) after several reports suggested that hackers were targeting the project.

as reported DailyBitcointhe official Twitter account of the Ukrainian government announced on Tuesday that it would conduct an airdrop among cryptocurrency donors who have contributed by sending funds to government wallet addresses.

Ukraine began accepting cryptocurrency donations last week, with the aim of supporting its military after Russian troops entered the country in a “special military operation”. The nation is accepting rewards in Bitcoin, Ether, USDT, Polkadot, Dogecoin and Solarium; and has even received a token non-expendable (NFT) CryptoPunk.

The community of digital currency enthusiasts has been supporting Ukraine in the midst of the armed conflict with Russia, and millions of dollars worth of crypto has been donated to the country. Though crypto donations spiked significantly following the announcement of the airdrop campaign, which was scheduled for this Thursday, rising to close to $60 million.

Ukraine changes plans and will now launch NFT

While the news seemed positive for the accumulation of aid funds, Ukraine has now decided to cancel the initiative. The Deputy Prime Minister of Ukraine, Fedorov Mykhailo, communicated this through his Twitter account on Thursday. He teased that the government has instead opted to auction off NFTs to continue raising money to support the Ukrainian military:

After careful consideration, we decided to cancel the airdrop. Every day there are more and more people ready to help Ukraine fight against aggression. Instead, we will soon announce NFTs to support the Armed Forces of Ukraine. We HAVE NO plans to issue fungible tokens.

Since the announcement of the token distribution campaign on Wednesday, no further information about the project has been released by Ukrainian government officials. In accordance with CoinDeskthe government also did not respond to multiple requests from that medium.

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Fedorov did not provide further details on the reasons why they have decided to shelve the airdrop, but emphasized that there were no plans to launch an airdrop. token or digital currency. Meanwhile, it is unknown what the NFT launch will consist of, as well as the specifications of the project including the schedule.

Scammers targeted Ukraine airdrop

The news comes shortly after several reports suggested that a group of scammers was targeting the airdrop. CoinDesk disclosed early Thursday the existence of a token called Peaceful World (WORLD) that seemed to come from the addresses of ethereum of the Ukrainian government.

A first report assumed it was the token of the long-awaited distribution campaign, but then corrected that data suggesting that the digital asset had been created by the country’s leadership had been falsified. Although the tokens appeared to be sent from the official wallet of ethereum Ukraine, it was actually a trick, explained Igor Igamberdiev, a researcher at The Block.

A reportage of that medium details that, in this type of scam, the tokens they are configured so that anyone can move them, not just the owner of the wallet. The trick, which sends all tokens to an address and then use an ‘airdrop’ function, hIt makes it look like the owner of the address moved them, when he had nothing to do with it. This is how scammers usually workIgamberdiev said.

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The movement also raised other red flags, such as the fact that its launch occurred before the date officially announced by the Ukrainian government. The investigator of The Block further noted that the token contract could freeze funds in a specific address, a worrying sign. Additionally, he noted that the code used for the airdrop was highly inefficient.

According to reports, tokens WORLD began trading early Thursday on the decentralized exchange uniswap, generating a transaction volume of USD $500,000. However, more recently, the block explorer etherscan hto tagged the WORLD tokens What “misleading“, warning that these could be spam or phishing.

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Article by Hannah Estefanía Pérez / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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