'BSCPad BUSD' Giveaway Scam

'BSCPad BUSD' Giveaway Scam Description

The 'BSCPad $BUSD' Giveaway page is used as a lure for a phishing scheme. The site is designed to closely resemble the legitimate page for the decentralized IDO platform BSCPad. The goal of the fraudsters is to convince users to divulge sensitive information, in this case, their crypto-wallet credentials (private keys or seeds).

The lure page claims that BSCPad is doing an airdrop of the BUSD (Binance USD) cryptocurrency. In essence, the con artists try to convince visitors that they will receive free BUSD coins by connecting their crypto-wallets to this page. To create a sense of urgency, the fake site shows an exact date and time, before which the supposed free coins must be redeemed. After that cutoff time, all remaining BUSD coins will apparently be returned to the treasury. To proceed, users are asked to click on the presented 'Connect wallet' button.

Users that provide the information required by the phishing site may soon have their crypto-wallets compromised. The cheaters could access them and then siphon out any funds found there, leading to potentially significant financial losses.