Berachain, a layer-1 network powered by proof-of-liquidity and built on the Cosmos SDK, has seen a surge in interest from airdrop hunters who have already minted over 1.7 million NFTs. The project, which is yet to launch, has engaged speculators in various tasks that may result in free tokens.

Berachain Protocol Overview

The Berachain protocol is built on the Cosmos SDK framework and is programmed in the Go language. It positions itself as an Ethereum Virtual Machine-equivalent L1 network, fully implementing the EVM code outlined in Ethereum’s yellow paper. This compatibility with Ethereum allows Berachain to support any dapp running on Ethereum’s mainnet.

Berachain Farming Vol.1 NFT Release

During its testnet phase, Berachain released the “Berachain Farming Vol.1 NFT” which led to increased trading activity around digital collectibles known as “Bit Bears” on popular NFT marketplace OpenSea. The Bit Bears collection has seen a 236% increase in volume over the last 30 days, with over 5,831 Ether (ETH) worth approximately $14.9 million in total transactions.

Scammers have also attempted to take advantage of the hype surrounding Berachain by posting misleading ads on social platforms like X, targeting unsuspecting users hoping to participate in the airdrop. These phishing scams aim to trick users into granting wallet transaction authorization, allowing scammers to drain the wallet’s value and launder the funds through crypto mixers.

As global crypto adoption rises, phishing scams and fraudulent activities have become more prevalent. SlowMist reported that 80% of X comments are related to phishing software and scams, with high-profile entities like Trezor and Ripple being targeted in these campaigns.

Stay informed and vigilant in the crypto space to protect your assets and avoid falling victim to scams.

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