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Lesson # 2
Spot and Avoid Scams
Blockchain Basics
1. What should you do if you receive an unknown token like "$AIRDROP" in your wallet?
A. Swap it immediately for ETH
B. Transfer it to another wallet
C. Approve it on a DEX to sell it
D. Ignore it and revoke permissions if clicked
2. Which of the following is a red flag that a website might be a phishing site?
A. It uses HTTPS encryption
B. It asks for your seed phrase to "verify your wallet"
C. It links to Etherscan
D. It requires you to confirm via hardware wallet
3. When verifying a token’s authenticity, which of the following is the safest method?
A. Search for the token name on Google
B. Get the contract address from a Telegram chat
C. Check the token's contract address on the official project website
D. Copy the address from a friend
4. What is a clear sign of a potential rug pull in a DeFi project?
A. The team has active Twitter accounts
B. The project offers realistic APYs
C. Liquidity is not locked and controlled by the developers
D. The token is listed on CoinGecko
5. Why is using a burner wallet helpful when exploring unknown dApps?
A. It has better transaction fees
B. It stores more tokens
C. It hides your identity completely
D. It isolates risk away from your main wallet