Latest news with #Cryptex
New York Post
03-06-2025
- Business
- New York Post
Crypto airdrops: How to find and claim the next free token drops
Cryptocurrency airdrops have emerged as a popular way for blockchain startups to promote new crypto tokens and attract users to their projects. The guide below has all the details that crypto enthusiasts should know about airdrops, how they work and how to avoid scams. Airdrops are best understood as a way for crypto startups to raise awareness while launching new virtual currencies. The startups will send tokens to the virtual 'wallets' of users who sign up. The coins are usually distributed for free or in exchange for a service, such as posting on social media about the crypto project. Advertisement It's a long shot, but if the crypto coin surges in popularity and gains a following online, its value can skyrocket, providing a windfall for the user. 'The upside of legit airdrops can be huge, some early users of protocols like Arbitrum, Uniswap, or Celestia made thousands of dollars for actions they took months before token launch,' Cryptex cofounder and CEO Joe Sticco told The Post. While potentially lucrative, airdrops can be very high-risk and are sometimes associated with 'rug pulls' or 'pump and dump' schemes, while project leaders quickly sell off their holdings after launch. Advertisement Experts stress that crypto users should be cautious and conduct due diligence to ensure that they are being offered by a reputable outlet. 'Risks include phishing, spam tokens or even smart contract exploits, so tread carefully,' Cryptex's Sticco said. 'If it sounds too good to be true, it probably is.' Users should look carefully at the URLs of project websites to ensure they look legitimate and attempt to identify token launches that come with 'transparent roadmaps and real use cases,' according to Patrick Young, an executive at airdrop distribution tool Galxe. Are You Crypto Curious? How to start crypto trading today Best Wallet Download a trusted exchange app — Start by choosing a licensed crypto exchange. We recommend starting with the Best Wallet app, available for both iOS and Android. Create and verify your account — Sign up using your email, Google, or Apple ID. To complete registration, you'll need to verify your identity with a government-issued ID and enable two-factor authentication (2FA) for added security. Fund your account — Deposit money into your account by linking a bank account or credit card or even using gift cards. Choose an option that best fits your lifestyle. Buy your first cryptocurrency — Use the app's marketplace or swap tool to purchase crypto by entering the ticker symbol — like BTC for Bitcoin or ETH for Ethereum — and follow the prompts to complete the transaction. Choose how to store your crypto — Decide whether you'll keep your crypto in the exchange, move it to a digital wallet (hot wallet), or store it offline (cold wallet) for extra protection. LEARN MORE Advertisement It's also critical for users to protect their crypto wallets by only connecting to verified pages. Users should never share their private wallet keys or seed phrases — the sequence of words used to access their crypto wallet. 'If anyone — especially someone claiming to be from the project — asks for your seed phrase, that's a major red flag,' Young said. Some experts suggest using an alternative wallet as a safeguard against potential fraud. 'The best advice is to look for projects evincing transparency, admin accountability, and engagement from project devs/managers,' added Peter C. Earle, senior economist at the American Institute for Economic Research. Advertisement For those interested in hunting for crypto airdrops, experts advise looking out for insider communities on social media platforms, including X, Discord and Telegram, or on specialized crypto sites that are set up to provide access for airdrops. Alec Strasmore, the founder of Epic Loot Labs, suggests that users study the 'tokenomics' of specific projects to get a sense of key details, such as how much supply of a given token is being given away in an airdrop. Community excitement and levels of engagement of public posts serve as a way to gauge whether certain projects may take off. 'General sentiment about the project also matters a lot because it determines how many people want to buy the token once its live,' Strasmore said. Blockchain startups will usually announce an airdrop online and detail any requirements to participate, such as having users follow a certain social media account or sign up to their website. Users provide their wallet address and receive a specific amount of coins, which varies from project to project. From there, they can buy, sell or hold the coins as they see fit. Look for wallets that are compatible with a wide array of blockchains and cryptocurrencies, have strong security settings and are non-custodial – meaning the user, not the platform, has control of their own private keys. Top options include Best Wallet, which distributed its own token $BEST via airdrop, as well as popular services like MetaMask, Exodus and Rabby. Leading exchanges like Kraken, Coinbase, and Binance occasionally support airdrops. Other sites like CoinMarketCap, Galxe and also curate airdrops. New York Post Approved Our pick — 60+ Chains. Total Control. Best Wallet The Best Wallet app puts security first with biometric logins, two-factor authentication, and full non-custodial control — so you hold your keys, not just your coins. With support for thousands of altcoins across 60+ blockchains, it pairs top-tier security with powerful, user-friendly tools — making it the safest, most innovative way to HODL, swap, and manage your crypto. Learn More 108M+ Users Worldwide Coinbase Coinbase is building a more inclusive financial future for over a billion people, enabling them to trade, stake, spend, and transfer crypto on a secure and trusted platform. It powers the on-chain economy with essential infrastructure, global access, and a commitment to fair, responsible innovation. Learn More 114.9% BTC Reserve Ratio Kraken Kraken takes crypto security seriously, with FIDO2-compliant Passkey logins, encrypted communications, and customizable API permissions that keep your account firmly in your control. With no phone-based recovery, time-locked global settings, and real-time threat monitoring, it's built to protect your assets at every layer. Learn More $232B Platform Assets Robinhood Robinhood Crypto offers a user-friendly platform for trading and transferring digital assets, including the ability to securely and easily send and receive crypto to and from external wallets. With its self-custody Robinhood Wallet, it manages crypto holdings across multiple blockchains, including Ethereum, Bitcoin, and Solana. Learn More 20% of Global Crypto Secured Ledger Ledger is a leading provider of secure hardware wallets, offering devices like the Ledger Nano X and Ledger Stax that protect private keys offline using industry-leading Secure Element chips and a proprietary operating system. Paired with the Ledger Live app, manage over 5,500 digital assets, including cryptocurrencies and NFTs. Learn More 100M+ Users & Growing lets you buy, sell and trade over 400 cryptocurrencies, including Bitcoin and Ethereum, with zero-fee USD deposits, wire, and Apple/Google Pay. With a user base exceeding 140 million, the platform gives advanced trading options, a self-custodial wallet through Onchain, and industry-leading security certifications. Learn More $53T+ in Transactions Uphold Uphold is a multi-asset trading platform that enables users to buy, sell, and swap over 360 cryptocurrencies, 27 fiat currencies, and four precious metals, all in a single step. With features like assisted self-custody via the Uphold Vault, staking rewards up to 16.8%, and real-time reserve transparency, it offers a secure and versatile experience for both beginners and seasoned investors. Learn More The New York Post may receive revenue from affiliate/advertising partnerships for sharing this content and/or if you click or make a purchase.
Tahawul Tech
07-02-2025
- Business
- Tahawul Tech
NO PAY NO PLAY: Chainalysis reports shows ransomware payments down by 35% as victims refuse to cough up
After ransomware gangs extorted a record-breaking US$1.25 billion in 2023, and the value stolen in the first half of 2024 rose 2.38% year-on-year, cybercriminals seemed poised for another record payday. However, a sharp pullback in the latter half of 2024 radically changed the year's outcome, instead resulting in overall ransomware payments seeing a sharp and encouraging 35% decline. This is according to findings from the Chainalysis 2025 Crypto Crime report, which also noted that the US$813 million attackers extorted from their victims last year included a record-breaking outlier in the US$75 million paid by an undisclosed victim to the Dark Angels group. 'For years now, the cybersecurity landscape seemed to be hurtling towards a so-called ransomware apocalypse, so this sharp decline, to levels even lower than those in 2020 and 2021, speaks to the effectiveness of law enforcement actions, improved international collaboration, and a growing refusal by victims to cave into attacker's demands,' said Jacqueline Burns Koven, Head of Cyber Threat Intelligence at Chainalysis. Another positive trend is the widening gap between the amounts demanded by bad actors and the actual payouts made by victims — in H2 2024, there was a 53% difference between the two. Moreover, despite the number of ransomware events actually increasing in the second half of 2024, the number of on-chain payments declined, suggesting that while more victims were targeted, fewer paid. In cases where victims did pay attackers, on average, the final amounts for these ransoms typically ranged between US$150,000 to US$250,000, regardless of attackers' initial demands. For attackers who received payments, Centralized Exchanges (CEXs) were a preferred means of converting their crypto gains into fiat currencies. Consequently, actions such as the sanctioning of Russia-based exchange, Cryptex, and the German Federal Criminal Police (BKA)'s seizure of 47 Russian language no-KYC crypto exchanges — both in September 2024 — have impacted the ability of ransomware actors to launder their illicit earnings. Chainalysis data shows that substantial volumes of crypto funds extorted by ransomware groups last year continue to be held in personal wallets. 'Ransomware operators, a primarily financially motivated group, are abstaining from cashing out more than ever. This potentially indicates a fear of being traced, identified, and prosecuted by law enforcement agencies, made possible with the help of crypto investigation tools such as those provided by Chainalysis,' added Koven. While these developments bode well for businesses that have long battled the threat of ransomware, Chainalysis warned against complacency. 'Today, 7-8 figure ransoms have become the outliers, as the ransomware actor landscape is dominated by groups extorting low- and mid-value payments,' Koven explained. 'With smaller businesses also in the crosshairs, protecting these organisations is critical to economic resilience as in the UAE for example, the country's over half a million SMEs contribute as much as 63% of the nation's non-Oil GDP. It will take sustained collaboration and innovative defences to build on the progress made in 2024, and ensure organisations across all segments stay protected against the threat of ransomware.'
