“This is 100% not me.” tweeted Derek Laufman, the artist behind the RuinWorld series and other online comics. Laufman had discovered that someone was posting his prints as NFTs on the online marketplace Rarible.com in an attempt to make a profit.
“I thought the point of NFT was that the artwork and artists needed to be verified?” He reported it to the company, who later took down the profile. But Laufman’s experience is far from the only one online where scammers used an established artist to make a profit.
NFT scams on the rise
With cryptocurrency growing as a popular form of economic trading, none have confounded users as a valuable form of data for trading as Non-Fungible Tokens, or NFTs. Want to own the original version of the Nyan Cat meme? You can. What about the first tweet? It’s already sold for $2.9 million. NFTs have become a timely and valuable asset for collectors and crypto enthusiasts alike.
But it has also become a source of scams and trickery. Users are reporting a growing presence of attempted NFT scam accounts on various social media platforms and systems that are robbing sellers of dollars, bitcoins, and their own NFTs.
“Historically, NFTs were not targeted by attackers,” Chris Hamer of MyCrypto told the Daily Dot. “But now with the mainstream popularity and monetary value, bad actors have taken notice specifically targeting NFT Holders.”
At the core of these NFT scams is a singular practice:…