The NFT space has been exploding with activity over the past few months. Stories of NFT collections doubling in value is not uncommon, and for crypto enthusiasts willing to put in the work, there are a lot of opportunities that can be found in the NFT space.
With opportunities to make money, there are definitely bad actors looking to scam users who may not be careful with their digital transactions.
Here are some common scams happening in the NFT space right now, as highlighted by DCL Blogger:
1. The Discord DM
The first common scam is the Discord DM (direct message). This can be in the form of the bad actor impersonating a “known” person or brand. It is very common for one to receive multiple direct messages into your discord inbox providing offers that are too good to be true.
It is therefore crucial to always check if something is suspicious. If you receive an offer that seems out of the ordinary, take some time to research before committing your funds.
2. OpenSea emails
There are instances where scammers may send a doctored image of the OpenSea NFT offers to your email. Always make sure that you receive emails from the official opensea.io website, and any links you click should redirect you to the official website.
OpenSea will never ask you to give away your pass phrase or give them access to your wallet.
In the case highlighted below, verified accounts have been hacked and ‘rebranded’ to impersonate popular personalities/projects.
This is quite common these days. However, a quick look at the account handle, the grammar structure, as well as the giveaway mechanics will reveal that this is an attempt to get you to connect to the site and give them access to your wallet.
Remember, you should never give your seed phrase to your digital wallets to anyone.
4. Fake NFT sellers
Another common scam happening in the NFT space right now is fake NFT collections. It is very common to see multiple fake collections launched before the actual NFT collection is launched.
Even after a collection is launched, it is also common to see people copying other NFT projects and launching them. If it doesnt come from the original brand and community, it has no value.
5. YouTube channels hacked and ‘giveaways’ streamed
Scammers have begun hacking into popular YouTube channels, where they livestream a crypto giveaway.
If you are actively involved in the NFT or even the crypto space, do practice good wallet security habits, and always remember that if something is too good to be true, it usually is.
It is really important to become educated on what techniques scammers and hackers use, read up on other people’s scam stories and learn from them. The more prepared you are, the harder it is to make you fall for it.
There are two main platforms where scammers find their targets — Twitter and Discord. They will often pose as customer support and talk you into sharing your seed phrase. Some scammers might even talk you into going to your settings and exposing your private key QR code.
It is also common for some scammers to pretend to be a captcha bot, and require some inputs to “verify” your identity to lure you into clicking random links.
Sometimes, scammers might pose as MetaMask support and tell victims that they have not verified their wallets. These scammers will then proceed to send a link (or a Google Form) that looks very similar to the original, and victims will be asked to “verify” the wallets, leading to a reveal of their seed phrase.
Remember, Discord and Twitter scammers can and will impersonate anybody, including NFT influencers, project founders, project moderators, celebrities and developers. Always make sure you interact with the real account and you’re interacting with official accounts.
A key tip here: Customer Support will never DM you, hence always make sure you are in the right Discord, and always double check if you’re talking to the real person. If you need help, contact the Discord’s admins directly, and do not click on random links sent to you.
Featured Image Credit: The Verge