Just days after its mainnet launch, the Monad blockchain experienced a wave of reported fake ERC-20 token transfers. While the team clarified that no exploits occurred, highlighting a common EVM spoofing tactic used by scammers, these fraudulent activities targeted users during a period of high network activity following an airdrop program and rapid dApp deployment. 76,000 wallets claimed $105 million worth of MON tokens in the initial airdrop. Early reports emerged on November 25th, with users expressing concern about potentially misleading transfers originating from their wallets, a tactic often used by scammers to trick users into visiting phishing sites or approving malicious contracts. The team emphasized that no funds were lost and clarified that these fake transactions did not impact real balances. Co-founder James Hunsaker addressed the issue on X, warning his community of fraudulent activity and urging caution in the face of high network traffic. The Monad team stressed the importance of relying on verified explorers, avoiding urgency-driven prompts, and double-checking contract interactions as they witnessed a surge in their user base. In an effort to enhance security, Monad acquired Portal Labs, a stablecoin wallet infrastructure startup that provides direct access to payment rails and stablecoin settlement systems. This move strengthens the chain’s capabilities for facilitating secure payments on its blockchain.