A research report by web3 security experts Forta Network and Blockfence shows that since December 2022, an NFT scam called sleepdropping targeting Ethereum users has affected thousands of people and caused more than $11.5 million in losses.
The scam works by sending unsuspecting users what appear to be real ERC-1155 tokens (usually NFTs).
This tactic lures users to deceptive websites, tricking them into authorizing transactions and inadvertently transferring their assets into the hands of scammers. The organization behind the operation remains unknown.
The report states that more than 500,000 addresses have become recipients of these misleading token airdrops, and currently, more than 20,000 users have been confirmed to be victims.