90% of NFT holders have already been cheated

The NFT market has gone from shadow to light over the course of a year. To the point of showing quantities that are now counted in billions of dollars. An explosion at the beginning of real success for certain collections that have become symbolic. But one of the direct consequences of this is also the multiplication of fraud of any kind against its proprietors. Because profit attracts investors, who inevitably bring a horde of thieves with them on the lookout for the slightest weakness. A reality that is not anecdotal, as a recent survey finds that 9 out of 10 proprietors have already been victims of a scam in the field.

It’s a shame to admit it Being cheated is almost a must in the cryptocurrency industry. This regardless of whether it is a project whose members disappear with the fund in carpet-pulling mode. Or a fraudulent site that displays a link that you should not click on. Not to mention targeted phishing operations or other careless errors with catastrophic consequences. Because security is a personal matter that should not be overlooked.

A reality that must be given special consideration in the NFT sector. And this in the first place because it is a market with significant adoption outside the crypto zone. That is, a true gift for seasoned digital scammers with often very fruitful imagination. Because the technique does not matter as long as the result is to relieve the holders of their non-fungible tokens. And this without taking great risks, especially if the unfortunate victim has the misfortune of having performed the operation.

NFT – 9 holders out of 10 scam victims

A critical situation according to the recent study published by the PrivacyHQ website dedicated to digital security. The latter was carried out in the United States after a thousand active investors and holders of NFTs. Because the conclusion is without appeal: 9 out of 10 respondents say they have already been exposed to a scam in the area. A figure that gives food for thought about the behaviors that need to be put in place to protect these precious digital images.

After talking to 1008 people in the US who are actively investing and owning NFTs, we heard some of the worst horror stories. But we also discovered how people protect their digital assets and whether those who suffered losses were able to get them back.. »

PrivacyHQ

A study that makes it possible to determine an average investment of $ 632 for that panel. But if only 47.8% of investors consider their NFTs to be truly safe. With a MetaMask portfolio approved by 52.8% and whose protection capacity is considered adequate by 63.8% of respondents. Yet, a share of 14.6% is simply convinced that their NFTs are not safe at all.

NFT – The most common scams

The vast majority of respondents (67.3%) say that they use complex and secure passwords. As well as two-factor authentication (2FA) as basic digital hygiene (65.2%). But just over half (55.3%) say they keep their mnemonic sentences in a really safe place. An obvious weakness if we take into account that 16% of respondents have already been subjected to an effective hack. This without, however, specifying the nature of this attack and the consequences in terms of financial losses.

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But the most common scam – and the easiest to set up – is without a doubt the carpet-pulling technique. Ghost projects created with the sole purpose of disappearing with funds from investors. A reality that affects 43.8% of respondents in this survey. With a share of 43.3% victims of fraud on fake platforms selling NFTs. Sometimes perfect copies of official marketplaces. With also a third of the respondents have been associated with fraudulent customer serviceclaims the handling of a problem to request confidential information.

A study which specifies that the surveyed panel of investors consists of persons who are informed of the accrued risks. But despite this, a simple moment of inattention or overexertion can prove to be dramatic. With a surprising proportion of more than 90% of lucky people who claim to have recycled all or part of their NFTswhich they had “lost access to. It will be necessary to explain how!

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