On July 24, 2023, the dYdX Foundation issued a warning to its users about the absence of any official announcements concerning airdrops or token incentives linked to the dYdX v4 public test network. This cautionary message was prompted by the emergence of counterfeit airdrops.

In recent times, there has been a surge in deceptive links related to airdrops and token incentives, employing a variety of intricate tactics. The dYdX Foundation has urged its users to remain alert and skeptical of any such announcements, especially those not originating from the official dYdX platform.

The dYdX Foundation took to Twitter to reiterate that no official announcements have been made regarding token airdrops or incentives connected to the dYdX v4 public test network, and users should be wary of potential scams.

In a similar vein, the Twitter account of DeFi protocol founder Uniswap was compromised on July 21st, with the hackers posting fraudulent airdrop and token distribution links. Thankfully, the account was recovered a few hours later, and the misleading tweets were removed without causing any harm.

A new scamming technique, known as "Airdrop scams," has been gaining traction. This method involves the creation of a bogus scam token that is sent to user accounts, banking on the curiosity of users to investigate the token, thereby falling into the scam.

The CEO of dYdX has issued a warning about such fraudulent activities. Scammers exploit the popularity of major platforms and the enthusiasm of the community to misappropriate assets. The issue arises when users access block explorers or wallets and discover unfamiliar tokens.

In 2020, several high-profile Twitter accounts, including those of Jeff Bezos, Elon Musk, Joe Biden, Barack Obama, and Bill Gates, were targeted by hackers in a crypto-related scam. A report from cybersecurity firm Kaspersky indicates that such attacks have seen a 40% increase compared to the previous year, and the trend shows no signs of abating in 2023.

The dYdX Foundation encourages users to conduct their own research before investing.