A bunch of my direct messages today were from people asking me where to sell CarLive Chain (IOV) tokens or trade with other coins, they purported to have millions in Kenyan Shillings’ worth of the token and were looking to offload.

At first, I thought maybe they bought the token and it skyrocketed, but they were too many so I went undercover lol, and behold!

AirDrops in Cryptocurrency

An airdrop for a cryptocurrency is a procedure of distributing new tokens/coins by awarding them in a certain proportion to existing holders of a particular blockchain currency, such as Bitcoin or Ethereum.

Thus, an airdrop is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts (not millions) of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.

However, this Carlive token is more of a glitch and most definitely not an airdrop.

how they got the $17,000 Carlive Chain Token

  1. Simply download and create an account on Trust Wallet.
  2. on Tokens press the icon at the top left that looks like a settings toggle
  3. enter an address they give you, “0x0e69d0a2bbb30abcb7e5cfea0e4fde19c00a8d47
  4. on the screen that shows, click on create a custom token
  5. paste the address again on the Contact address
  6. Change the decimal from 8 to 0 and voila. you have some $18,000 worth or should I say worthless of this token.

Note: If you don’t alter the decimal, you get nothing, because it’s worth nothing!

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how to withdraw or trade the $17,000 Carlive Chain Token

You simply can’t. These are worthless coins. A simple log out and log in again and your balance resets to default.

This is not how Crypto works, you don’t just wake up and get some random Sh18 million dropped in your account.

Now stop flooding my DMS!

 

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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