Remove “SingularityNET (AGIX) Airdrop” scam

The “SingularityNET (AGIX) Airdrop” scam is hosted on agix-finance.com, and it promotes a fake crypto giveaway. The site tries to trick users into connecting their crypto wallets so a crypto drainer could be activated to steal all funds in the wallets. SingularityNET is a legitimate platform, but it has nothing to do with this scam. Malicious actors have merely created a similar site to trick users. If users interact with the site hosting this scam and connect their wallets, they may permanently lose all of the funds stored in that wallet.

 

 

The “SingularityNET (AGIX) Airdrop” scam operates through agix-finance.com, which closely mimics the official site (singularitynet.io) for the SingularityNET platform. The fake site features a somewhat similar design, though the contents are different. The fake site displaying the SingularityNET (AGIX) Airdrop scam promotes the scam on the front page, with a huge “Claim Now” button being visible as soon as users enter the site.

SingularityNET is a credible platform that enables users to create and share AI services. Unfortunately and unsurprisingly, malicious actors are exploiting its popularity to steal people’s cryptocurrencies. It’s important to note that the legitimate platform is in no way associated with this scam.

The scam claims to offer users access to airdrops or pre-sale events. If users engage with the site and click on the “Claim Now” button, they will be prompted to connect their wallets. Doing so triggers a cryptocurrency drainer that attempts to steal funds gradually by executing unauthorized transactions to the scammers’ wallets. Users might not notice the crypto drainer right away, as transactions may not happen immediately. Once the funds are sent to the malicious actors, recovering the lost cryptocurrency is not possible.

Given how closely the fake site resembles the authentic one, it’s likely that many users could fall for this deception if it’s promoted effectively. These types of scams are why it’s crucial for users to thoroughly verify any platform before linking their cryptocurrency wallets. Otherwise, they could quickly lose all of their funds.

How are cryptocurrency scams promoted?

It’s unlikely that users find their way to agix-finance.com by accident. More often, they come across links to the site on social media, forums, or in comments on various articles that are designed to get users to fall for scams. Malicious actors frequently take advantage of certain social media platforms to promote cryptocurrency scams, with X (formerly Twitter) and YouTube being particularly popular among these scammers. A common strategy involves impersonating well-known personalities, such as Elon Musk. This tactic is especially widespread on X, where moderation is quite poor, allowing crypto scams to thrive. The comments on Musk’s posts are often filled with fake accounts claiming he is holding a crypto giveaway or similar schemes. These impersonators create seemingly credible profiles capable of deceiving inexperienced or inattentive users, and often link to scams like the “SingularityNET (AGIX) Airdrop” scam. YouTube is also a popular platform for cryptocurrency scams. Scammers can hijack popular channels and post videos featuring Elon Musk, Tesla events, and announcements about crypto giveaways.

It’s also worth mentioning that in 2020, a notable number of high-profile Twitter accounts were hacked to promote a Bitcoin giveaway scam. Accounts affected included those of Barack Obama, Joe Biden, Bill Gates, Jeff Bezos, and Elon Musk. Even crypto accounts like Coinbase, CoinDesk, and Binance were affected. When these accounts advertised a Bitcoin giveaway claiming to double any cryptocurrency sent to them, over 320 transactions occurred within minutes, resulting in nearly $110,000 being transferred to the scammers. Thus, even when legitimate accounts promote crypto giveaways, users need to be very careful.