Common NFT Scams & Safety Tips

Common NFT Scams & Safety Tips
Feb 03, 2023 135
Common NFT Scams & Safety Tips

With the rapid advancement of blockchain technology and the surge of NFT popularity in recent years, programmers, gamers, artists, and even teenagers have more opportunities.

Unfortunately, fake artists and other fraudsters looking for profit have also noticed new opportunities. NFTs may operate on various blockchains but are largely centered on the Ethereum blockchain. Typically pointing to an image file, they act as a digital certificate for a single object. Understanding how to recognize and avoid scams has become crucial due to the risk of financial loss.

This article includes advice on how to prevent common NFT scams as well as a complete list of the NFT scam types. Our investigation of the NFT frauds provides information about scams that have dogged the sector since its debut.

Fake Marketplaces

This category includes fake markets and wallets that mimic legitimate ones that are frequently distributed through various channels such as forums, emails, social media, and others. The deception lies in the subtle differences in the website's layout or URL that make it difficult for users to distinguish between fake and trustworthy companies. This can result in unsuspecting users being misled and their assets being at risk.

Fake Offers

When the cryptocurrency you listed your goods with undergoes a change, it may lead to a bid scam. This happens when a potential buyer places the highest bid without informing you.

This scam happens when selling your work on the secondary market so that you may fall victim to fake offers. This occurs when a buyer offers to pay you 1 USD instead of the agreed-upon 1 ETH for your work.

Fake Technical Support

On social media platforms related to non-fungible token projects, scammers often pose as customer service representatives to steal assets stored in users' wallets by obtaining their private keys.

Giveaway Scam

Giveaway scams are a form of deceit where fraudsters pose as a reputable exchange or well-known figure to host a fake contest. They request a certain amount of bitcoin to be sent to them in exchange for a chance to win half of the "giveaway”. However, once the funds are sent, they cannot be retrieved due to the irreversible nature of bitcoin transactions, enabling the scammers to profit.

Rug Pulls

Rug pull scams have gained notoriety for their ability to go unnoticed until it's too late. The fraudsters generate excitement around a project to lure in investments, then suddenly abandon it, similar to pump-and-dump tactics. They often do so once they have drained investors' funds, then disappear from social media and remove all the money from their wallets.

Counterfeit NFTs

The owner of an artwork is not equivalent to possessing the original or having control over the intellectual property rights of an artwork. Any image can be transformed into artwork on platforms like OpenSea, even if you don't possess the rights to it. Deceptive individuals can exploit this by reproducing NFTs from another user's work, fooling buyers into believing they are acquiring authentic artwork, then selling the imitation on the marketplace. Once the deceit is exposed, the fake work loses its value completely.

Pump and Dump

Scammers resort to pump-and-dump strategies to artificially increase the price of their collection with the intention of making a profit. To achieve this, they post multiple offers in rapid succession to stir up excitement about the drop. When the prices reach a certain point, the scammers sell their holdings, leaving unsuspecting buyers with the artwork they have overpaid for.

How do you protect yourself from NFT scams?

This guide was created to help you defend against NFT scams by learning to identify and avoid them. Essential steps to keep in mind include verifying links and websites, conducting background research, checking transactional currency, and using only verified accounts. It's crucial not to give out passwords and to carefully examine the transaction history and wallet data of a collection before purchasing it. Check the number of transactions and purchasers on platforms like OpenSea for added security against pump-and-dump fraud. Reach out to the artist through social networks for added assurance.

It is necessary to do a fundamental background investigation and confirm the source's authenticity. The next step is to check the website is legitimate and that the background of the seller's account is reliable.

Checking the transactional currency before starting the transactions will help prevent scams.

To avoid the fake support scam, ensure you only access a specific telegram channel or Discord server through a creator’s official page or site.

You may avoid counterfeit scams by ensuring that any work you buy on a marketplace is from a verified account.

Conclusion

Fraud incidents are popping up more and more frequently as the ecosystem develops and grows. It is crucial to educate oneself on the strategies that scammers use in the marketplace and to keep up with the most recent laws and technological developments in the sector if one wants to safeguard themselves from these schemes. Despite the fact that NFT scams are becoming common, there are precautions you can take to protect your assets. First and foremost, you must protect your wallet from hackers and never divulge your private keys. Establishing your account on a reliable wallet is advised to further reduce the possibility of falling prey to shady trade sites. There are a number of well-known digital wallets available for you to select from.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.


Daniel Maxwell
29 August 2023
I was so anxiuos to know what my wife was always doing late outside the house so i started contacting hackers and was scamed severly until i almost gave up then i contacted this one hacker and he delivered a good job showing evidences i needed from the apps on her phone like whatsapp,facebook,instagram and others and i went ahead to file my divorce papers with the evidences i got,He also went ahead to get me back some of my lost money i sent to those other fake hackers,every dollar i spent on these jobs was worth it.Contact him so he also help you. mail: premiumhackservices@gmail.com text or call +1 4106350697

Anna macko
28 August 2023
I invested online to an unregulated broker company which I got stuck having challenges of making withdrawal of my investment profit ,I got in touch with a recovery specialist called Gavin Ray and I sent him all he needed to place a Recovery of my funds from the broker company and I got a call by the bank confirming the payment in my account,quick satisfaction on every successful withdrawals with him, on gmail: gavinray78 @ gmail. com or WhatsApp ‪+1 (3 52) 322 ‑20 9 6

VIVIAN
27 August 2023
While i was trading on Bitcoin on the 10th of May of 2023, I unexpectedly lost my $215,000,! I was frustrated and had no idea on how to recover back my lost funds? I did an extensive research on how to recover stolen Bitcoin funds and I came across several referrals and Ads that had gotten help from `leeultimatehacker@aol.com I made contact and I was actually very impressed with the service that i got, not only did I recover back my $215,000, I also got back my hacked social media accounts,If you ever run into such a nerve racking situation don't stress out just contact
leeultimatehacker@aol.com for all your hacking problems rest assured you will recover everything you lost.

Herry
26 August 2023
I was duped some I regulated platform, but I wish I had not even paid credence to them. I lost a lot to them because they're not real. I am thankful for the opportunity to receive aid by Mr Jeff through his mail Jeffsilbert39 @ gmail. com. He supported me through reclaiming what I lost to them with little effort on my parts. Thank again, Jeff. You could also WhatsApp him privately at +.8,.4., 9.,4., 7,.6.,7, 1.,5..2,,4.

Oscar Kevins
26 August 2023
Do you need help to spy on someone or something? Are you worried about a cheating partner or spouse? Find out and catch a cheating partner with facts and evidence to back it up, do you need help recover lost or stolen passwords, track and monitor GPS location, etc.; for all your spy and hack related services; find ( wizardbrixton at Gmail dot com ) on the internet for help and solution to all your spy and hack needs, Social media hacks Find them on online using your desktop or PC via your browsers URL box. They are the best, services rendered is 100% guaranteed to contact them on ( wizardbrixton at Gmail dot com )

Oscar Kevins
26 August 2023
Do you need help to spy on someone or something? Are you worried about a cheating partner or spouse? Find out and catch a cheating partner with facts and evidence to back it up, do you need help recover lost or stolen passwords, track and monitor GPS location, etc.; for all your spy and hack related services; find ( wizardbrixton at Gmail dot com ) on the internet for help and solution to all your spy and hack needs, Social media hacks Find them on online using your desktop or PC via your browsers URL box. They are the best, services rendered is 100% guaranteed to contact them on ( wizardbrixton at Gmail dot com )

Sean
26 August 2023
Have you invested in the wrong platform, fake binary option or even fake forex trade, you do not need to worry as Sean and the team can help out in getting your scammed funds back. We have had many instances whereby people lost their hard earned funds to online fake investment platforms and we have recovered all back into their safety provided you have all the necessary information needed in recovering your scammed funds. If you are in need of any help recovering your scammed funds, contact Sean now via email Cybercryptogetback(at)gmail(dot)com.

Frank Thompson
21 August 2023
HIRE A PROFESSIONAL HACKER TO RECOVER STOLEN, STUCK AND LOST CRYPTOCURRENCY ASSETS



Sometimes in July, I got duped by a fake cryptocurrency investment website name legalcoininvestment.com which is now unreachable of about $235,000. I got lured into investing on this platform with the intent of earning 25percent of my investment monthly as profit. I thought it was a good project as they got many referrals on the internet not knowing I was just about to enrich a stranger. They took my funds and left me with nothing so I got disturbed. I searched the web to find a legitimate and genuine assets recovery personnel. After several searches I found RECOVERYBUREAUC @ GMAIL COM who has many truthful reviews on the internet describing his recovery services and how well he has helped several victims of internet theft retrieved their funds. I speedily contacted this expert at RecoveryBureauC@gmail.com and hired him. He gave me few instructions and told me about the recovery procedure which I obliged. To my greatest surprise my funds got retrieved totally within few hours I hired him, this is the best service I ever got on the internet. If you need similar assistance on how to recover your stolen assets, send a detailed report of your case to this firm now for a spot on assistance. 



Contact Info: RECOVERYBUREAUC@GMAIL.COM



WhatsApp: +56 9 3325 4446

Alex Sanchez
21 August 2023
Investing in cryptocurrency requires you understand how cryptocurrency market and investment works. Last month I lost about $355k worth BTC and USDT to a fraudulent investment website due to ignorance after I got lured with a 25percent profit on my investment but turned out to be a deceit. I became worried looking for a way out of my nightmare then I searched the internet for a genuine recovery expert and I found RECOVERYBUREAUC @ GMAIL, C0M whom I hired. To my greatest surprise within few hours I contacted the expert he retrieved the first tranche of my stolen funds and the remaining subsequently. I’m forever grateful for this amazing assistance cause he saved me from getting bankrupted. He’s the real deal!!!

James blood
19 August 2023
I got myself involve in trading with this unregulated binary option broker company , my total asset was withheld for no reason, I paid several fees for this but still couldn’t get my funds, I had to file a case report to Gavin ray a well known recovery specialist who help in recovering back all scammed crypto from any scam companies provided you have the right information, he was able to restore all my asset .get in touch with Gavin on mail Gavinray78@gmail. com or WhatsApp +1 352 322 2096, he’s highly recommended.

isha Lewis
18 August 2023
DO NOT USE, STAY CLEAR

Do not use this company. They have zero knowledge of trading, after being in a hedge for 5 months in which they continued to buy and sell low yesterday they closed out all the trades losing hundreds of thousands of pounds without giving anyone an option to trade it out themselves. but I was lucky to be saved with the help of drew wake, Helped me recover my lost funds. get in touch with Drew wake

https://t.me/Melissa_Fx_recvrfirm
drewwake . jtbtech at 9mail . c0m 
+86 18 97 03 77 491

Jeo Batilome
18 August 2023
My advice to newbies in the crypto world is to consider alternative investment options. I speak from personal experience, having been involved with three different investment platforms in the past, all of which turned out to be fraudulent websites. As a result, I lost a significant amount totaling around half a million pounds. When I shared this unfortunate news with my wife, she was understandably upset that I hadn't discussed the investment plan with her earlier, as we have always been open and transparent with each other throughout our marriage. She didn't speak to me for several days, leaving me feeling confused and unsure about what to do next. Desperate for a solution, I sought the help of a private investigator who referred me to an underground hacking group that specializes in assisting people in recovering their funds from similar situations. Through ongoing communication on telegram with the user Melissa_Fx_recvrfirm , we worked together to achieve a successful outcome, and I am thrilled to say that I have now received my funds. Moreover, I am grateful to share that my wife and I have mended our relationship and are on speaking terms once again, which brings a smile to my face. If you ever find yourself in a similar situation, you may find the contact details of the hacker helpful. Below Email/whtp.
drewwake. jtbtech at gmail. c0m
+86 18
97 0
3 77
491

Rick Lee Mutoshi
17 August 2023
I'm Mr Rick Lee Mutoshi from Alberta, Canada.
I invested the sum of $25k on a crypto exchange trading platform with a guarantee of 250% returns, two months after my capital deposit i ended up realizing i have spend more than just my invested capital all in the hope that am getting 250% return which i have not been able to access on the trade platform due to my withdraw denial by the exchange, i discover i have been scammed of $413k, i tried all i could to get back my funds but i couldn't get a help so i felt i lost it all until i discover alien wizbot who i decided to contact for the last trial time and it happened that with him i was able to have my funds back. All thanks to the alien wizbot.

Vivtory
14 August 2023
I saw a reviews about how to hire a hacker to recover stolen bitcoin by Amy Victor she said her 83000usdt was recovered by Santoshi Hacker, I cupid their contact given by testimony Amy Victor I mailed to the hacker and asked if they have an ideas how I can unlocked my blocked crypto wallet got a reply less than hour and I was told to state my case and give a screenshot of my evidence I did all that trust me friends a new private key was generated to gain access to my wallet my blocked crypto wallets is unlock now. I really want you all to pay attention to Santoshi hacker is a good hacker with some patients, one thing am sure of Santoshi hacker can retrieve your cryptocurrencies accounts wallet lost to scammers back to your wallet ,list of things you should trust this hacker for lost of passwords, they can reclaim your lost crypto currency, consult Santoshi hacker to get your accounts fixed or retrieve lost money back from scammers they can help you trace fake investments companies trying to scam you.
website of Santoshi Hacker and other sites you can reach out to them.
https://santoshihacker3.wixsite.com/santoshihacker
Email: santoshihacker@hotmail.com
https://www.youtube.com/@Santoshihacker
for retrieving I we always recommend Santoshi Hacker.

Matthew Alden
13 August 2023
I'm a victim of the LIQULDOHN cryptocurrency investment scam, I was asked to deposit £700 which I did and it tripled to £2200 within 1 hour. That got my interest, The next deposit was £3,500 and my profit shot up to £18,200. I was amazed at how little money can make you crazy profits. I invested more and more. When I tried to cash out, I was asked to pay taxes and other complicated fees. My profits had accumulated to £531,000 as it would show on the trading website but I could not access it. By the time it got to me that the company is illegitimate, l had already lost a total of £190,000. I decided to do proper research about the company to ease my fears that I might have been conned and that's when I found out that they have been stealing from harmless Americans and individuals around the globe. While reading more about the company in pain, I stumbled upon a United States veteran article on how this same fake crypto investment website took his money but was able to recover it back from them with the help of an Ethical hacker. I inquired more about this Ethical hacker and that's when I was introduced to CYBER GENIE HACK-PRO. I am writing this positive review to affirm that, Recovering stolen Bitcoin from scammers is real and can be achieved when done by the right expert. If by any means you are a victim of a Crypto Investment scam and wish to get your funds and profits back, I highly recommend (Cybergenie(@)Cyberservices(.)Com) OR (Whatsapp (+1252) 5120391), you know why, I am living testimony of their greatness.   

Priyanka Raj
10 August 2023
Everything occurred so quickly. I was at work one morning when I received an email from blockchain asking me to verify my wallet address for safety reasons, which I did thinking it was the appropriate blockchain email address sending the mail to me. I then clicked a file that was attached to the email, that's when everything went wrong. My personal computer collapsed for a brief period, and then I got an alert that my Bitcoin had been submitted into a different wallet. I tried emailing the blockchain support since I was so enraged and perplexed to see if there was any chance I could get my bitcoins back, but they stated there was nothing they could do. I gave up on it for a little period of time. I was informed that I could actually find Bitcoin with the aid of a hacker. I requested assistance from jamesmckaywizard who was introduced to me through a colleague. They only required the information from my own wallet. The money was found in my wallet in less than 4 working days, and it turned out that the intruder had already spent some of it, leaving me with only about 53,820.00 bitcoins. I'm still pleased and happy, jamesmckaywizard@gmail.com deserves every bit of praise for the fantastic job they did. They are influential on WhatsApp and email. jamesmckaywizard@gmail.com or What'sapp +919863293475

shedrack Avi
10 August 2023
Is it possible for scam victims to receive their money back? Yes, if you have been a victim of a fraud from an unregulated investing platform or any other scam, you may be able to reclaim what was stolen from you, but only if you report it to the appropriate authorities. You may reclaim what you've lost with the appropriate strategy and evidence. Those in charge of these unregulated platforms would most likely try to persuade you that what happened to your money was an unfortunate occurrence when, in reality, it was a sophisticated theft. If you or someone you know has been a victim of these situations, you should know that there are resources available to assist you. Simply do a search about LFrescue.org . It is never too late if you have the right information, your sanity can be restored

Harry Garnet
9 August 2023
I’m truly grateful to SpyWeb Cyber Services for helping me recover my cryptocurrency funds from my locked account.
It’s truly amazing how quickly I was able to get back my funds once I contacted SpyWeb cyber support team.
I had lost all my retirement savings to a cryptocurrency investment scam, hoping I will get double what I invested into it. I was contacted to pay more and more money which was absurd considering that I’d put $309,000 into this platform, luckily for me, I found out this was a scam and contacted the authorities. Although the authorities were not able to recover my funds, I was referred to Spyweb cyber service by my old friend who has benefited from their services in the past. I’m just really happy Spyweb Cyber Service was able to recover my funds. Their service is top-notch.

SPYWEB CYBER SUPPORT TEAM CAN BE CONTACTED VIA E-MAIL: SPYWEB@CYBERDUDE . COM
WHATSAPP VIA @+12137236292

Julie Hedda
31 July 2023
Reputable Cryptocurrency Recovery expert// CaptainWeb Genesis.

Most frequently asked question by investors after losing Bitcoins to fraudsters, is how possible is it to recover the lost Funds. I happened to become a scam victim last summer. I became interested in Cryptocurrency trading last summer and decided to trade $525,000 worth of crypto through an online software company which promised huge returns. Everything went wrong after they transferred all my funds from my coin base wallet to an unknown wallet address. I immediately had a search out on a reliable option to recover the funds back. I came across CAPTAINWEB GENESIS, a specialized Expert in Cryptocurrency Recovery services. I must say I have good fortune, all my lost funds have been recovered back all thanks to CAPTAINWEB GENESIS. To any victim who has lost Crypto to fraudsters learn more on restoring back your funds Visit Web https://captainwebgenesis.com/

CONTACT INFO;
WhatsApp +1 (447) 442-0456.
Email ;Captainwebgenesis@hackermail.com

Jennifer Greenland
27 July 2023
My misplaced cash of roughly $180k were found and recovered. I had my trading money unloaded by a broker who for three months refused to give me access to my trading account, and I had no idea that I would be able to recover it. That I could get my money back without any hassle makes me quite happy. Elite Wizard Bitcoin Recovery, who earned a reputation as a licensed binary options recovery specialist, is a technician I would really like to thank. Your broker manager is recommending that you make further deposits before making a withdrawal if you have money in your account that you intend to take out. Please get in touch with Elite Wizard Bitcoin Recovery using the information below if you are unsure how to proceed. In a matter of days, they will demonstrate to you the guild lines to recover your stolen funds.

Email: eliterecovery247@cyber-wizard.com

Phone: +1 (740) 688-0116