Executive Summary
Monad co-founder Keone Hon issued a warning regarding phishing advertisements in the project's official Telegram channel. These ads impersonate the upcoming Monad airdrop claim portal, which is scheduled to open today, October 14th, at 1 PM UTC, and will remain accessible for three weeks. This alert underscores ongoing security risks within the Web3 ecosystem, where August 2025 recorded $12.17 million in losses from phishing attacks targeting 15,230 consumers.
The Event in Detail
Monad co-founder Keone Hon alerted the community to fake advertisements appearing in the project's official Telegram announcements channel. These advertisements present fraudulent links designed to mimic the legitimate Monad airdrop claim portal.
The actual airdrop claim portal is anticipated to open on Tuesday, October 14th, and will remain active for a period of three weeks. Kevin McCordic, Monad's Head of Growth, has reinforced the official opening schedule and urged users to exercise vigilance against scam links.
Scammers leverage sophisticated tactics, including creating imitation websites and using domain names that closely resemble official project sites, as highlighted by analysis of fake airdrop schemes in 2025. These schemes often request immediate wallet connections or transaction signatures, which can grant malicious actors unlimited access to user assets.
Market Implications
The warning from Monad highlights the pervasive threat of phishing and security vulnerabilities within the burgeoning Web3 sector. Recent data indicates a significant increase in such attacks, with August 2025 alone witnessing $12.17 million in losses across 15,230 Web3 consumers. This represents a 72% increase in losses and a 67% increase in victims compared to the preceding month, driven by advanced tactics such as EIP-7702 batch-signature scams and direct transfers to malicious phishing contracts.
The incident may contribute to increased investor caution and a demand for enhanced security protocols across new project launches and airdrop distributions. For Monad specifically, while the warning aims to protect its community, the presence of such scams, even external ones, can introduce Fear, Uncertainty, and Doubt (FUD), potentially impacting community trust and perception of project security.
The broader market implications include a reinforcing need for platforms and users to adopt stringent security practices. Monad's Head of Security, Noah, has previously advocated for measures such as using dedicated devices for crypto activities, hardware wallets, multi-signature setups, and disabling auto-downloads in messaging applications to mitigate phishing risks.
Security experts consistently emphasize "key hygiene" and continuous vigilance against phishing attempts. The exploitation of discrepancies between information displayed on websites and hardware wallet verification, as observed in North Korean attacks, underscores the critical importance of users verifying transaction details directly on their hardware wallets. Educational resources like the "Phishing Dojo" are also recommended for user awareness.
The prevalence of convincing fake airdrops, where rewards are often portrayed as excessively large for minimal effort, serves as a common bait. Experts advise against relying solely on unofficial sources like random social media threads or paid advertisements, stressing that legitimate project announcements are always made through official websites, verified social media accounts, and community channels.
Broader Context
Airdrops remain a popular distribution strategy in the crypto world, yet they have become a prime target for increasingly sophisticated fraud. The Monad event is not isolated but part of a wider trend of attackers exploiting anticipation around token distributions.
Community sentiment surrounding the Monad airdrop has already shown skepticism due to past development delays, with less than 40% of traders on Polymarket anticipating the airdrop in October. This existing caution, combined with the current scam alert, accentuates the challenges faced by new projects in maintaining community confidence amid security threats.
The incident highlights the critical need for robust security infrastructures and continuous user education as the Web3 ecosystem expands. Projects are compelled to not only develop secure technologies but also actively guide their communities in navigating the complex landscape of digital asset security.
source:[1] Monad Co-founder Warns of Fake Ads in Official Channel - TechFlow (https://www.techflowpost.com/newsletter/detai ...)[2] BTCUSD - Monad co-founder flags Telegram ad scam in official channel ahead of airdrop (https://vertexaisearch.cloud.google.com/groun ...)[3] Monad co-founder flags Telegram ad scam in official channel ahead of airdrop (https://vertexaisearch.cloud.google.com/groun ...)