There Won’t Be a MetaMask Airdrop Snapshot on March 31st, Team Member Warns of Scams

Cryptocurrency wallet provider MetaMask has alerted the community against rumors of a fake airdrop of a MASK token that has been making rounds on social media. The deceptive rumor involves conducting an official token snapshot or airdrop on March 31st.

The MetaMask team confirmed such posts to be false and added that such rumors are “dangerous” as they create opportunities for scammers and phishers to target crypto users.

There’s a bunch of people who don’t know what they’re talking about hyping up a “MetaMask token drop snapshot March 31st”. The phishers will probably be out in force around that day. Please take your FOMO vaccines now. 💉💉💉

— Dan Finlay 🦊💙 (@danfinlay) March 28, 2023

Decentralizing MetaMask

ConsenSys is a software giant and is the company that’s running MetaMask.

As part of its expansion plans, while navigating Web3, it disclosed plans of launching a Decentralized Autonomous Organization or DAO, which is expected to enable the creation of novel new pieces of MetaMask to be funded rather than governing the wallet provider.

This has led to several rumors of a token. While many early adopters of MetaMask are anticipating they will be entitled to receive one similar to other projects such as Uniswap, the team has offered little hints about how the token launch could come to fruition.

While speaking with CryptoPotato this month, Alex Jupiter, senior product manager at MetaMask, said:

“In MetaMask, we only do things if we see a use case. Right now, it does not seem to be a use case where we are experimenting with forms of tokens with our MetaMask, which is a way for any external developer to apply and then essentially have all employees in Consensys using our MetaMask Grant.

Tokens that vote on different proposals that we think should get the money. This is very different from what the wider ecosystem is asking us, but that has a key utility and use case to actually decide which projects get money. We’ll see where it goes in the future.”

MetaMask may have refuted deceptive rumors that have been swirling in social media, but ConsenSys CEO and Ethereum co-founder Joe Lubin had also indicated that the company is currently working to decentralize the Web3 wallet provider while confirming that a token launch is still in the cards.

During the same event, its head of operations also weighed on the subject and said that the company plans to proceed cautiously with the token launch and that it will not be a “cash grab” event.

Address Poisoning

Earlier this year, MetaMask warned users of a new scam called ‘Address Poisoning’ that is being used to lure users into sending funds to a scammer rather than an intended recipient.

The scammer essentially “poisons” the wallet’s transaction history with addresses that appear to be similar to those that a user recently facilitated transactions. The threat actor uses a vanity address creator to make an address similar to the one involved in the recent transaction.