The latest reports indicate that the FBI has issued a warning about criminals who are impersonating legitimate NFT developers aiming to defraud users within the nonfungible token (NFT) community. These nefarious individuals either compromise the legitimate social media profiles of genuine NFT developers or fabricate accounts that closely mimic them. Subsequently, they endorse counterfeit NFT launches,… Continue reading FBI Warns About Criminals Impersonating NFT Developers
Tag: scams
Logan Paul Contends With Lawsuit Over Supposed CryptoZoo Rug Pull
Logan Paul, the YouTube megastar, is facing a class-action lawsuit about his CryptoZoo NFT project, which is accused of being a rug pull. The accusations allege that Logan Paul raised funds for the web3-based animal-themed game that does not exist. The lawsuit comes after Logan Paul took accountability and action to recoup investor losses. Here… Continue reading Logan Paul Contends With Lawsuit Over Supposed CryptoZoo Rug Pull
Yuga Labs Affected By Recent Mailchimp Data Breach
On January 17, the popular email marketing platform Mailchimp confirmed a data breach – and Yuga Labs was among the victims. Notably, the Bored Ape Yacht Club developers are still going through the details to determine how their Mailchimp account was compromised. Nonetheless, they did tweet the community a warning to ‘stay safe and vigilant’… Continue reading Yuga Labs Affected By Recent Mailchimp Data Breach
Industry Executive Highlights Why NFT Fraud Protection Falls On Brand Not Marketplaces
Brands that issue nonfungible tokens must hold the biggest responsibility to protect themselves and their investors from NFT fraud, according to an NFT security executive. Nonfungible token (NFT) marketplaces need to commit to fighting fraudulent NFTs. However, brands should be held as far more responsible for protecting NFT investors. BrandShield CEO Yoav Keren said that… Continue reading Industry Executive Highlights Why NFT Fraud Protection Falls On Brand Not Marketplaces
Queen Elizabeth II Demise Awakens New NFTs And Meme Coins
There are nearly five hundred and twenty NFTs in the memorabilia, with every token representing an artistic version of the Queen with somewhat a notorious connotation attached to it. While the entire world mourns the death of Queen Elizabeth II, her demise has resulted in the rise of several NFT designs as part of the… Continue reading Queen Elizabeth II Demise Awakens New NFTs And Meme Coins
Anonymous Group Sends A Message For BAYC Collectors, Is It Authentic?
Analytical data shows that the latest target of the hacktivist group, Anonymous seems to be the Bored Ape Yacht Club (BAYC) NFT collection. On August 14, the group posted a video on Twitter promising to investigate different allegations against BAYC. More particularly, Anonymous is considering the accusation of simianism, racism, occultism, and Nazism against the… Continue reading Anonymous Group Sends A Message For BAYC Collectors, Is It Authentic?
OpenSea Launches New Security Feature Protecting Users From NFT Attacks
OpenSea, an American peer-to-peer marketplace for crypto collectibles and non-fungible tokens (NFTs), has introduced a new security feature that will automatically hide suspicious NFTs transfers from the general view on its marketplace. The security development appears in the light of the increasingly growing number of NFT phishing attacks in the past weeks. OpenSea recently came… Continue reading OpenSea Launches New Security Feature Protecting Users From NFT Attacks
YouTuber Thwarts Squiggles NFT Scammers Before They Could Make $20M
One YouTuber who strives to investigate online scams, Coffeezilla has disclosed an alleged plot by Squiggles non-fungible token (NFT) scammers who could possibly make up to $20 million in a fictitious project. In a video that was published on February 16, 2022, Coffeezilla highlighted how these cybercriminals tried to use the Squiggles NFT project to… Continue reading YouTuber Thwarts Squiggles NFT Scammers Before They Could Make $20M
Sham NFTs Cause Marketplace Shutdown – Experts Weigh In
The nonfungible token (NFTs) platform famous for minting Jack Dorsey’s first tweet has suspended all NFT operations amidst forging and illegal activity claims. Rampant issues that are related to minting phony nonfungible tokens (NFTs) have forced the popular marketplace Cent to stop some of its operations. Launched in 2017, Cent started as a “social network… Continue reading Sham NFTs Cause Marketplace Shutdown – Experts Weigh In