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NFT scams

NFT scams on social media have become an increasing concern as the popularity of NFTs continues to grow. Scammers are targeting artists, collectors, and investors by creating fake marketplaces, making false promises, or using phishing techniques to steal funds and artwork.

Some common NFT scams on social media include:

  • Rug-pull scams: Scammers hype an NFT project, collect funds, and then disappear without delivering the promised product.

  • Fake marketplaces: Fraudsters create fake NFT marketplaces to steal money or artwork from unsuspecting users.

  • Phishing: Scammers send fraudulent emails or messages, often posing as legitimate companies or platforms, to trick users into providing sensitive information or transferring funds.

  • Overpriced offers: Scammers may approach artists with offers that seem too good to be true, often leading to financial loss for the artist.

To protect yourself from these scams, it's essential to research NFT projects and marketplaces thoroughly, verify the authenticity of emails and messages, and be cautious of offers that seem suspicious.

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