The Berachain project, not yet launched, has already caught the attention of airdrop hunters who have minted over 1.7 million NFTs. Berachain is a first-layer network built on proof of liquidity and developed using the Cosmos SDK. This protocol positions itself as an Ethereum L1 equivalent, fully compatible with Ethereum, enabling it to support any decentralized application running on the Ethereum mainnet.
Currently, Berachain is in its testnet phase and is generating discussions among airdrop hunters on social media, who are looking for opportunities to receive free tokens. As part of the protocol, the "Berachain Farming Vol.1" NFT was released, encouraging trading activity with the "Bit Bears" collectible digital items on the OpenSea platform. However, it is unclear whether the Berachain and Bit Bears teams are connected. Bit Bears have seen a 236% increase in trading volume over the last 30 days, recording more than 5831 ether (ETH), equivalent to approximately $14.9 million USD.
Scammers are also trying to capitalize on the protocol's popularity by posting phishing ads on social media, including Elon Musk's platform X, targeting unsuspecting users. These ads often mislead Web3 users into granting access to their wallets, allowing scammers to sign transactions and drain the wallets. SlowMist reported that 80% of comments on X are related to phishing software and scammers. Well-known organizations such as Trezor and Ripple have also been targets of these campaigns.
