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MetaMask Issues Warning About Misleading Token Launch Campaign

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metamask token

The project’s Twitter account reported on March 28 that the popular crypto wallet MetaMask has warned of a fraudulent $MASK token launch.

MetaMask Denies Token Launch Rumors

According to MetaMask, numerous speculations indicate that the company will conduct an official token snapshot or airdrop on March 31. However, according to the project, these rumors are “not only false but also dangerous” since they enable scammers and phishers to target crypto users.

MetaMask software developer, Dan Finlay, stated that individuals lacking knowledge are responsible for the exaggerated excitement surrounding the purported airdrop. Finlay cautioned that fraudsters are likely to be prevalent during the time and urged people to be vigilant.

The rumor appears to have originated on March 26 from a social media account named “eezzy” before being widely disseminated by the head of the Degenscans, serp1337.

These rumors alleged insider information to claim that MetaMask would record user transactions on March 31 before a 2024 airdrop. While it did not require transfers to a specific address, it is unclear whether the initial rumor was spread for a fraudulent purpose.

However, MetaMask does not have a native token and has no intentions to introduce one in the near future, despite all rumors and recommendations to the contrary.

What’s Driving the Rumors?

A token for MetaMask has been rumored for some time. In fact, the leader of MetaMask’s parent company, ConsenSys, may have sparked the possibility in the first place.

Joseph Lubin, co-founder and CEO of ConsenSys, appeared to hint at a token launch in November 2021 when he tweeted, “Wen $MASK? Stay tuned.” Later, in March 2022, Decrypt stated that Lubin confirmed MetaMask’s intention to introduce a token. Several big websites subsequently cited this statement as evidence for a forthcoming launch.

At least one alleged scam occurred from the previous remark. In December 2021, hundreds of customers had their monies stolen after attackers hacked a decentralized exchange to make it appear as though a WETH/MASK trading pair existed.

Jay Solano

Jay Solano

Jay is a crypto and NFT enthusiast dedicated to exploring the dynamic world of digital assets. As a crypto blog writer, he is sharing his knowledge of the latest trends, breakthroughs, and investment opportunities in the blockchain world.

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