Fake NFT mints, airdrops, and giveaways are among the most common scams in crypto. Phantom can't recover lost assets, but we can help you avoid the most common traps. This guide covers what to watch for and what to do if something goes wrong.
Top tips
- Keep Phantom updated. Use the latest version to benefit from new security and scam-prevention tools.
- Use the Explore tab. Discover verified apps directly within Phantom to reduce the risk of connecting to malicious sites.
- Double-check URLs. Verify links through official sources such as the project's website, Discord, or X. Watch out for ads or slightly altered domain names.
- Treat all unsolicited NFTs as suspicious. Assume any unexpected NFT airdrop is a scam. Don't click links or approve transactions related to them.
- Pay attention to transaction warnings. Phantom flags potentially malicious transactions through its simulation tool. If a warning appears, stop and verify the source.
- Use a burner wallet for risky interactions. Fund it only with what's needed to keep your main assets safe.
NFT airdrop scams
Scammers airdrop fake NFTs promising rewards, whitelist access, or VIP perks to lure you into visiting malicious sites.
How these scams work
- Countdown timers and FOMO. Fake sites use urgency to push you into acting quickly.
- Cloned communities. Fraudulent Telegram, Discord, or X accounts mimic real ones. Always cross-check official URLs.
- Unrealistic rewards. Guaranteed profits or rare NFT drops are typical red flags.
When you interact with one of these NFTs, by clicking a link or confirming a transaction, you may be tricked into revealing your recovery phrase on a phishing site, or authorizing a malicious transaction that transfers your assets to the scammer. Either way, the result is the same: loss of funds and control.
How to avoid NFT airdrop scams
Important: Any unsolicited NFT airdrop should be treated as a scam.
Phantom automatically checks NFT metadata and hides potentially malicious items in the Manage Collectibles section of your wallet. Unless you've manually hidden it, assume any NFT in that section is suspicious and report it as spam: select the NFT → More → Report as Spam.
If you're unsure about an NFT, cross-check its source through the project's verified social channels. Never visit unknown sites or connect your wallet.
NFT mint scams
Scammers promote fake NFT mints to steal your funds.
How these scams work
Fraudsters create convincing websites, social accounts, and ads for a "new" NFT project. When you try to mint, the transaction you sign can send your funds directly to another wallet, or grant token approvals that let scammers drain your assets later.
How to avoid NFT mint scams
- Do your research. Check who built the project, their community reputation, and whether they have a public roadmap.
- Verify official links. Only connect your wallet to URLs posted on the project's verified X or Discord pages.
- Watch for social media hijacking. Even verified accounts can be hacked. Always confirm across multiple sources.
- Ignore urgency tactics. Timers and limited-time messages are designed to make you act impulsively.
- Review permissions. Be wary of contracts requesting token access.
- Pay attention to Phantom's warnings. If a simulation warning appears, stop immediately.
Evolving phishing trends
Scammers continually adapt. Stay alert for these tactics:
- AI-generated content. Scammers use AI to create convincing fake sites, marketing materials, and bios.
- Ad-based phishing. Paid search ads may lead to cloned project pages.
To stay safe: visit official project sites by typing the URL directly or using verified social links, look for verified partners in Phantom's Explore tab, and watch for inconsistencies in domains or communication style. If something feels off, it probably is.
How Phantom protects you
- Spam detection. Machine learning and partners like SimpleHash identify and hide spam NFTs and tokens.
- Transaction previews. Phantom simulates transactions to flag phishing attempts or malicious contracts.
- Community reporting. User reports improve detection accuracy across the network.
- Verified banners and Explore tab. Access legitimate, reviewed apps directly from Phantom.
Use a burner wallet
A burner wallet is a separate, temporary wallet used for high-risk transactions like testing new apps or NFT mints. It keeps your main wallet and its contents insulated from anything that goes wrong.
- Create a new wallet in Phantom.
- Fund it minimally. Transfer only what you need for the transaction.
- After the interaction, revoke token approvals and move any remaining funds before deleting the wallet.
If you suspect fraud
Even with precautions, scams can happen. Act fast:
- Disconnect from malicious apps and revoke token approvals to block further access.
- Move your remaining assets to a new or secure wallet.
- Contact Phantom Support.
Acting quickly can minimize losses. We're here to help.