{"id":718,"date":"2021-12-30T13:56:13","date_gmt":"2021-12-30T13:56:13","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=718"},"modified":"2021-12-30T13:56:13","modified_gmt":"2021-12-30T13:56:13","slug":"crypto-community-shows-lack-of-empathy-for-victims-of-metamask-token-scam","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=718","title":{"rendered":"Crypto community shows lack of empathy for victims of MetaMask token scam"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Up to 400 people fell victim to a scam involving the yet-to-be-released MetaMask token, resulting in the loss of hundreds of Ethereum. An exact figure is not known at this time, but estimates range from $1 million to $1.8 million.<\/p>\n<p>The victims were fooled into believing they were buying legitimate $MASK tokens. A deeper analysis of the situation revealed that scammers had injected code into DexTool\u2019s application front end to give a \u201cverified\u201d tick mark for the Uniswap WETH\/MASK trading pair on Uniswap.<\/p>\n<p>\u201cCode was injected into the title and description of the token on DexTools which the website executed, resulting in the token displaying a \u201cverified\u201d status.\u201c<\/p>\n<p>One victim recounts the situation, saying, \u201ceverything always seems obvious in hindsight.\u201d However, social media comments, in general, show an overwhelming lack of sympathy for the victims.<\/p>\n<p>MetaMask and DexTools have yet to make a public response to the situation.<\/p>\n<h2>The MetaMask token<\/h2>\n<p>The founder of Ethereum devs ConsenSys, Joseph Lubin, teased a MetaMask token during a Twitter exchange some two months ago.<\/p>\n<p>Surging growth in the number of monthly active users in 2021 has made MetaMask the most popular wallet in crypto circles.<\/p>\n<p>\u201cMetaMask had 545,000 monthly active users in July 2020, but that shot up to 10.35 million by August 2021.\u201d<\/p>\n<p>Previously, some had dismissed the idea of a $MASK wallet due to JPMorgan\u2019s stake in MetaMask and the complications a token would bring regarding compliance and disclosure.<\/p>\n<p>But Lubin countered by saying there is no conflict of interest as most projects involved with his firm are decentralized. Signing off with \u201cWen $MASK? Stay tuned.\u201d<\/p>\n<p>Rumors are that token distribution (of the actual MetaMask token) will occur via an airdrop. Although nothing has been confirmed, it\u2019s expected that anyone swapping the platform will be eligible to receive tokens.<\/p>\n<h2>Social media comments<\/h2>\n<p>Scammers managed to dupe the victims by disabling the sell function after they pumped liquidity into the fake token. Victims were left holding bags of useless tokens that they couldn\u2019t offload.<\/p>\n<p>Responding to the situation, one Twitter user expressed surprise that anyone could \u201cfall for this stuff.\u201d Adding that, the victims scammed themselves due to their lack of due diligence.<\/p>\n<p>\u201cHonestly it\u2019s mad that people fall for this stuff. If there was a mask airdrop, it would be all over twitter. You don\u2019t need an intellectually well worked scam, you just have to wait for people to scam themselves out of their own funds.\u201d<\/p>\n<p>The majority of commenters held a similar view. However, another Twitter user pointed out that the verified tick mark was a factor in muddying people\u2019s assessment of the situation.<\/p>\n<p>That being so, does DexTool have a degree of culpability in this?<\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/crypto-community-shows-lack-of-empathy-for-victims-of-metamask-token-scam\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Up to 400 people fell victim to a scam involving the yet-to-be-released MetaMask token, resulting in the loss of hundreds of Ethereum. An exact figure is not known at this time, but estimates range from $1 million to $1.8 million. The victims were fooled into believing they were buying legitimate $MASK tokens. A deeper analysis [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=718"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/718\/revisions"}],"predecessor-version":[{"id":720,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/718\/revisions\/720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/719"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}