Attention crypto community, a new scam has been reported involving the website https://www.mode.network. The scam purportedly promotes a MODE AIRDROP, claiming to be an L2 token supported by Optimism. This scam tricks users into connecting their wallets (such as Trust Wallet) and approving a token that seems to have minimal fees at first glance. However, it results in executing a smart contract with the “INCREASE ALLOWANCE” function, leading to a significant loss of funds, specifically targeting the tokens with the highest value.

Case Details:

• Scam Name: MODE AIRDROP (SUPPOSEDLY L2 TOKEN SUPPORTED BY OPTIMISM)
• Scam Website URL: https://www.mode.network
• Transaction Hash: 0x04aa5d577db2432d2021429da8b045a000f8b7a1da18f5b005ae192be1cf17b0
• Receiving Address: 0x59803e5Fe213D4B22fb9b061c4C89E716a1CA760

The fraudulent activity can be confirmed by examining the transaction details on BscScan. It is evident that the transaction was successful but under deceptive premises. The transaction was initiated from an address (not fully disclosed here for privacy) to the receiving address provided above, with no BNB value transferred but a transaction fee incurred.

This incident is a stark reminder of the importance of thoroughly verifying any platform or contract before interacting with it or approving any transactions. Always double-check URLs, look for official communications from token projects, and be cautious with your approvals in your cryptocurrency wallets.

If you’ve encountered a similar scam or have been affected by the same scammer, please share your story. By coming together and sharing information, we can help prevent others from falling victim to similar scams. Stay vigilant and protect your digital assets!