Hot Take: Protecting your NFTs Online
The non-fungible token (NFT) market is undergoing a resurgence, but it’s also attracting scammers and hackers. NFT influencer Bun is a recent victim of a phishing attack that resulted in the theft of his hot wallet. This incident has raised concerns about the security of NFT investments.
NFT Investor Bun Got His Hot Wallet Drained
Bun, a well-known software engineer and NFT influencer, fell victim to a phishing attack that drained his hot wallet after he clicked on a fraudulent Frame airdrop link. His stolen NFT collections include Valhalla #3454, Kagami #328, Cool Cat #939, and others. This highlights the need for increased vigilance in the NFT space.
In a similar incident, a blockchain security firm reported that 237 NFT collections were stolen by scammers in a phishing attack. Furthermore, the company behind the physical crypto wallets Ledger recently experienced a compromise that resulted in over $600,000 worth of crypto being stolen.
Tips On How You Can Protect Your NFTs
To prevent falling victim to scams or hacks, here are some tips for safeguarding your NFT investments:
1. Phishing scams
Be cautious of clicking on suspicious links, attachments, or pop-ups on various platforms. Verify URL domain names, email addresses, and social media handles to ensure authenticity. Keep your seed phrase, credentials, or private keys private from others.
2. Plagiarized Listings
Always verify the authenticity of NFT marketplaces and websites to avoid falling victim to fake platforms created by scammers.
3. Exits scams “Rug Pulls”
Thoroughly research the background of the teams behind NFT projects on social media platforms to avoid investing in fraudulent projects.
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