𝐏𝐑𝐎𝐓𝐄𝐂𝐓 𝐘𝐎𝐔𝐑 𝐏𝐀𝐓𝐇

NFT (Non-fungible Token) SCAMS
About NFT scams: There are five types of NFT scams that are presently flourishing in the market, namely: Replica NFT stores, Fake NFT stores, Fraud NFT’s, Fake NFT airdrops and giveaways, and NFT scams through social media. Some NFT scams include creating a website that looks exactly like the legitimate website, so that the hackers may get all the login credentials of the users. Scammers have also started targeting people through social medias claiming to be official support or promoting fake giveaways in promise of gaining exponentially more tokens in return for the amount they send.

• How to protect yourself against NFT scams:
  Reverse image search on an NFT must be done to ensure that its not showing on other NFT exchanges/markets. Also, turning on two factor authentication and making sure that the website is legitimate will help prevent these scams. Links shared on social medias should not be clicked/visited and there is no such thing as ‘free money’, so stay away from fake airdrops and giveaways.
• Example:
  Giveaway scam involving Rarible (an NFT marketplace).
  In March, Bolster found that the number of suspicious-looking domain registrations with names of NFT stores like ‘Rarible’, ‘Opensea’, and ‘Audius’ have increased nearly 300%” when compared to previous months.
  Users’ accounts on NFT marketplace Nifty Gateway were taken over by a hacker and their NFTs were stolen.