Guarda position on Monero so-called airdrops

Hello world! It is Guarda speaking. Recently, we’ve been getting customers requests regarding Monero Original (XMO), Monero Classic (XMC), Monero0 (XMZ) and MoneroV (XMV) coins availability in Guarda Web Wallet. As the number of these requests is growing, we’ve decided to make our stance and position clear as well as warn our customers about the possible risks.

Monero community has a number of good reasons to regard all the forks mentioned above as a fraud. First, fork creators choose to stay anonymous and don’t reveal their identities. Second, their software is often not open source. And last but not least — the major risk of these forks is their requirement to use Monero private keys on an alternative blockchain in order to get the so-called airdrop.

Guarda team is convinced that Monero airdrop is plain nonsense. It’s a flagrant violation of the user privacy, which has always been the main advantage and the intrinsic principle of Monero. It is the reason why Guarda does not support any third-party initiated Monero forks.

How can your assets be compromised?

As mentioned previously, the main risk is caused by using the private data on an alternative chain. At the moment, the only way to get XMO, XMC, XMZ and XMV is to enter Monero private key into the software that is not open source. This software cannot be audited by the community and there is a risk that the private keys will be stolen and transmitted to the forks creators.
You should also be aware that using Monero private keys in any third party software means you’re being involved in a massive attack on Monero.

How can it affect Monero?

Be careful and don’t use Monero keys anywhere but the original network by team. Getting coins for free (airdrop) might seem tempting but it’s not worth risking one of the most important Monero security principles. This privacy breach can start a chain reaction that will harm all Monero users.

Monero blockchain is famous for its 3-layer data protection system. When the forks take place, it triggers a chain reaction that can cause anonymity breach and open up a possibility to track transactions on the main chain. It clearly demonstrates that privacy and security of the users and the network do not concern the fork creators. Thus it’s highly likely that these forks are nothing but an attempt to attack or compromise Monero.

  • Purchasing and using XMO, XMC, XMZ, XMV may lead to privacy breach and make the transactions traceable. It can potentially damage both Monero network and the fork creators.
  • Creators of these forks stay anonymous. We can’t be sure they have the relevant and sufficient experience to execute these projects.
  • Forks won’t bring any profit to the investors if they don’t find a way to liquidate this asset.

Guarda CPO Eugene Ives says: “Guarda stays on the bright side. Protect Monero!” So we appeal to all Monero enthusiasts who use Guarda Wallet or any other wallets that support openmonero (MyMonero), to refrain from the airdrops. We also advise that you ignore all third-party initiated forks that bring nothing but treat and danger to the whole community.

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