Research shows that NFT scams have increased by 400% in the UK between 2020 and 2021

The experts at NFT Club have put together a guide to help investors protect themselves from the most common scams targeting NFT owners and buyers.

1. Phishing scams

There has been a surge in replica and fake stores made to look like the original ones in order to trick users into logging in or inputting their credit card information, this is what’s known as ‘phishing’. Scammers target investors by creating fake advertisements, asking users to input their private wallet keys or seed phrases via email, discord, telegram and other public forums.

Scammers are also getting in touch with users over Discord and Twitter, impersonating OpenSea or Metamask support staff. This is with the aim of tricking people into exposing their security phrase or sending links to fake customer service websites, where you are asked to input your credentials. If you are seeking technical support always go directly to official customer support websites and never share your recovery phrase.

Four top tips to avoid phishing scams:

  • If you are seeking technical support always go directly to official customer support websites and never share your recovery phrase.

  • Write your seed phrase down on paper and never give it out to anyone, don’t even keep a photo of it on your phone.

  • If you receive a suspicious email, always check the sending email address and never open links from an unknown sender.

  • The best way to verify the authenticity of the site you’re on is to use websites like ScamAdviser and Trend Micro…

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