According to Phantom, a common scam in the cryptocurrency market involves fake NFT airdrops and giveaways, where scammers promise free tokens or NFTs to lure individuals into clicking malicious links. These links, often found in spam NFTs or fake ads, lead to websites that can drain cryptocurrency wallets. This presents a significant risk to traders who may unknowingly fall victim to these scams by engaging with unverified links.

According to Trader_XO, despite surviving downturns in altcoin markets, traders face risks of wallet drainage through malicious links. The recommendation is to enhance security during social interactions by employing protective measures.