Satnam Narang, a staff research engineer at the cybersecurity firm Tenable Inc. in his latest blog pointed out that over the last few months, a variety of non-fungible token (NFT) projects including Bored Ape Yacht Club (BAYC), Azukis, MoonBirds, and OkayBears have been impersonated on Twitter to steal users’ NFTs and digital currencies like Ethereum and other altcoins.
Narang explains that to create hype, many of these projects have been promoting upcoming integrations with their metaverses, giving scammers ample opportunity to capitalize on new or rumoured announcements in association with these projects.
He stated that “scammers leverage Twitter mentions to capture attention.” According to him, recently, Twitter users with an interest in NFTs and cryptocurrency are likely to have received notifications in their Twitter Mentions. The cryptocurrency scammers are tagging users in replies across hundreds of tweets. By mentioning these Twitter usernames, they’re trying to pique their curiosity in a bid to trick some users into falling for their scams.
Narang pointed out some of the notable scams that used Twitter accounts.
In his opinion, airdrops and free NFTs are the perfect vehicles for cryptocurrency scams.
One of the bluechip NFT, BAYC earlier this year announced an Airdrop of ApeCoin to holders of its various NFT projects like BAYC, Mutant Ape Yacht Club, and Bored Ape Kennel Club.
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