Hackers are minting their own crypto to use in elaborate phishing scams

A new, elaborate fraud campaign involving airdropped tokens, a decentralized cryptocurrency exchange, and the MetaMask wallet has been spotted targeting naive cryptocurrency holders.

Airdropped tokens are tokens (or crypto coins) that the project’s developers distribute to the wider community. It is a common practice in the blockchain industry, as it allows participants to better acquaint themselves with the project, injects a solid amount into the circulating supply for easier trading, and raises awareness of the project. In exchange for airdropped tokens, users are often asked to provide their contact information, and share the news of the airdrop with friends on Twitter and other social channels.