I was scrolling and reading some articles in noise.cash when I came across an article, Written by coinleta on noise.cash, if you read my previous article, where we reviewed an article from noise.cash about the increasing number of fraudsters and scammers in the NFT community.
We talked about about how fake NFT arts are being sold off and ripping people of their money. I remember reading @Elearah comment and replying to it talking about hackers in taking over the NFT community.
Without further Ado let's get on with it
In this post, we will talk about new and classic types of NFT fraud in #SmartBCH ecosystem
By its nature, NFT is just a certificate that indicates that such and such an address "owns" such and such a picture, for example.
There are many nuances in this technology and not always the owner of NFT has the rights to some kind of digital art or object. Nothing prevents you from attaching multiple NFTs to the same picture - it all depends on how the community agreed on the rules and the ethics of it all.
Since an NFT is just a digital certificate and not a digital object, the scammers have more free rein.
One of the new ways to cheat is to embed malware in digital art, videos and other things that are stored off the blockchain and linked to NFT tokens.
For example, a user can buy some NFT-picture, download it to his device and receive a program for hidden mining as a “gift”.
Another example: a user receives an NFT with an exploit > when he tries to view this NFT, he opens a Metamask with a transaction confirmation window > this confirmation looks like a normal request from Oasis.cash> the user confirms the transaction and loses all his funds from the wallet.
NFT is just one type of token. They are stored in the same wallets as regular DeFi coins, so they are subject to standard types of fraud:
• Phishing emails
• Fake websites in search results
• Collecting money for NFT collections followed by a scam
• Phishing marketplaces and auctions
• Scam guilds with NFT leasing
• Sale of copies of original digital objects
• Copyright infringement
• Use of public figures without their knowledge
• And many other standard scams familiar to almost everyone
A simple and effective way to protect against it all: spend time to check the site, link, NFT tokens, project, copyrights and other things. The main thing in this case is not to rush anywhere and carefully study everything before making a decision. Although this may not guarantee you might not get scammed or hacked, but it is a preventive measure
New article here;
@CryptoNag , @Kristofferquincy , @Eunoia , @Ayane-chan , @Kiingsley , @Jumper-01 , @Success.1 , @Balikis , @FashTioluwa , @Fash_Tioluwa, @Olasquare .