Blum Crypto: Was It Hacked And When Is The Airdrop?

Updater face
Last updated Jul 05, 2024 | 12:24 PM UTC

For the past few weeks, Blum crypto has dominated the crypto discussions and headlines. There’s a lot of community engagement regarding Blum’s latest airdrop and rumours about a potential hack.

So, what is this new hype? Is Blum safe? And when will its highly anticipated airdrop commence? Let’s delve into the details. 

What is Blum crypto? 

Blum Crypto is a hybrid cryptocurrency exchange developed by a team of former Binance executives, aiming to combine the benefits of centralized and decentralized exchanges. The project was developed by Gleb Kostarev, former VP of Binance, and Vladimir Smerkis, former GM at Binance Russia. 

The platform integrates a seamless trading environment within a Telegram mini-app, making it accessible and engaging, particularly for younger users and emerging markets.

The platform supports a wide range of tokens without requiring users to switch chains or deal with native token gas fees. Users can mine Blum coins via the Blum Crypto Bot on Telegram by completing tasks and accumulating points​. 

Blum crypto source Telegram
Image: Blum Telegram channel

Why is Blum gaining so much popularity?

Blum crypto's rapid rise in popularity can be attributed to several factors:

  • Hybrid exchange model: Blum offers a unique combination of off-chain order books with on-chain settlement, allowing users to execute trades across both centralized and decentralized platforms. This model ensures efficient trading while maintaining the security and transparency of blockchain technology.
  • Wide token access: Blum automatically lists tokens with sufficient liquidity from various exchanges and protocols, providing users with universal token access. This feature eliminates the need to switch between multiple platforms, simplifying the trading process.
  • Gamified trading experience: The Telegram mini-app incorporates gamified elements like the Drop Game, where users can earn Blum Points by catching falling items. These points can be accumulated and redeemed for rewards, enhancing user engagement and retention.
  • Mobile-first design: Blum is designed for mobile users, reflecting the growing trend of mobile crypto trading. The app supports trading via popular wallets like MetaMask, allowing users to choose between centralized services and self-custody options.
  • Community engagement: Blum emphasizes building a robust community through its point-based system within the Telegram app. Users can earn points by completing tasks, playing games, and inviting friends. These points may be converted into tokens in the future, fostering user loyalty and activity.

Was Blum hacked?

Recently, Blum Crypto was the subject of hacking rumors following a tweet from Russian artist Pokras Lampas. The tweet, which read, "BLUM @blumcrypto WAS HACKED BY ME", led to widespread speculation about the platform's security. However, multiple reports have clarified that this was not a hack but rather a collaboration between Blum and the artist​.

Pokras Lampas tweet
Pokras Lampas tweet posted 4 July. Source: X

Pokras Lampas, known for his calligraffiti work, blends calligraphy and graffiti to create visually striking artworks. His partnership with Blum Crypto is part of the platform's effort to engage its community through creative and interactive initiatives. This collaboration highlights Blum's innovative approach to building a vibrant and dynamic user base​.

Blum airdrop details

Blum Crypto's airdrop has generated significant excitement within the cryptocurrency community. Launched in June 2024, the airdrop aims to distribute a substantial portion of BLUM tokens to its users. This initiative is part of Blum's strategy to reward its growing user base and encourage engagement on the platform.

In collaboration with Bitget, Blum Crypto offers users the opportunity to earn Blum Points (BP) and win BGB tokens. By completing various tasks and participating in trading activities, users can accumulate BP, which will be converted into BLUM tokens during the airdrop. The top 5% of BP balance holders will receive an additional BGB airdrop from Bitget, further incentivizing active participation​.

To participate in the airdrop, users need to be active on the Blum Crypto platform. They can download the Blum app on Telegram and start accumulating BP by engaging in activities like farming, social tasks, and daily challenges.

It is crucial to use official channels to stay updated on the latest information about the airdrop and to avoid potential scams.

Written by

Mohammad is an experienced crypto writer with a specialisation in cybersecurity. He covers a wide variety of topics spanning everything from blockchain and Web3 to the retail crypto space. He has also worked for several start-ups and ICOs, gaining insight into the mindset and motivation of the founders behind the projects.