Watch Out for This Major Airdrop Scam!
Good day frens, I hope you're doing well. More and more every day we see these free airdrops on Ethereum coming out of the wood works. Some good, some bad, but mostly just scams in my opinion. I'm no expert nor am I a financial advisor so take this for whatever it may be worth. I'm just a dude that likes to look at the blockchain.
fees.wtf
fees.wtf is a crypto project that initially would take your Ethereum address and calculate how much ETH you've spent on gas fees. That's all fine and dandy if you want to cry and hate yourself for a few minutes. Or if you're just genuinely curious how much money you've burned on gas fees to mint those worthless shitty NFTs. Well - the good old team at fees.wtf said "mmm, mmm, no no no". We're gunna create a token and airdrop it to people based on how much gas they spent. Fantastic, who doesn't love a free airdrop? Then this disaster happened. The token claim went live. The gas wars kicked in fast. The irony of this is that it's supposed to "give back" to the people that spent money on gas fees. You might've seen screenshots like this floating around on the cesspool that is Twitter.
Hot damn! 99 free WTF tokens! Sign me up! Wait a minute.... I have to do 2 transactions just to claim these tokens... Hmm.... fees.wtf which was supposed to give people some value for their gas quickly climbed the gas guzzler chart right to the top. How is an airdrop free if it cost people $4million in gas fees? Seem a little sus?
Some idiots paid insane amounts of ETH to claim this worthless airdrop. The token's price looked great but the ones that spent money to claim it can't sell it. There's no liquidity to trade the token, so it doesn't really matter what Uniswap says the value is... You can't trade it if there's no liquidity. Therefore you just spent a shit ton of ETH to get a worthless untradeable token. Just look at these insane fees just to "unlock" the token that some people were seeing. The really sad part is some people actually spent the ETH to do this. On top of the insane gas fees to claim, there's a 0.01 ETH fee to "unlock" your claim. A portion of that goes to your referrer if you have one. Ponzi scheme? Hmmmmm...
What a fucking shit show. But wait.. There's more! Not only are there 2 transactions to claim the shitcoin, there's also a 3rd transactions to claim your "NFT" to unlock the Pro version of the website. What the hell that's actually supposed to do is a mystery to me. Looking at the code, the ClaimWTF and ClaimNFT functions are basically the same. Why the hell they needed to be separate is beyond me. Looks a little sus if you ask me though.
Looking at actually transferring and trading the token, there's a 4% tax on every transfer. There also appears to be a whitelist for that fee though, probably only reserved for the teams so they can rug pull everyone without paying a tax to the contract. Smart thinking, scammers. They can also adjust the 4% tax on every transaction to whatever the hell they want it to be up to 10%. If it wasn't a scam, why would this be adjustable by the owner?
This whole "launch" was a complete disaster. People lost tons of money and the fees.wtf team made millions. It seems they are trying to at least do a little damage control by not disappearing. They even released this fantastic article to try and address the hate but... The article just seems so insincere. They don't give a shit. They made their money. I wouldn't be surprised if the Twitter gets deleted just like the Discord did. There's a whole lot more of the story to be told if you look at the token contract on EtherScan. You can check the internal transactions and see which influencers made the most money off their fans by sending out their referral links. It's pretty damn disgusting if you ask me. Is it a scam? I can't say for certain. Should you try to claim it? Absolutely not. Save yourself the fees and heartache. This isn't your ticket to financial freedom unfortunately.
Thanks for reading! Much love.
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