A word of caution to those interested in collecting NFTs: the shadowy underbelly of scammers and con artists is expanding its ingenuity. As a result, mind-boggling amounts of skulduggery and deceit are employed.
Jennie Cute Cat, a self-professed meticulous collector, reveals how she was duped by an elaborate NFT scam in her most recent post. As a result, I lost about 0.6 ETH ($1700), but I’m a little more careful and a little wiser as a result of the incident.
Jennie made a truly wise decision by following the transactions of NFT influencers rather than listening to their silky words. To accomplish this, she set up an alert system on icy.tool to warn her of any activity.
As a result, an alert was triggered from one of Jennie’s trusted collectors, and she jumped in to investigate. She discovered a’stealth drop’ for a Louis Vuitton collection with a massive 26 ETH floor. She found the drop after following a mint link, only to be met with an availability tracker that was quickly counting down to zero. So, allowing FOMO to get the best of her, Jennie purchased 5 NFTs for 0.12 each.
The fear set in shortly after that. The transactions did not appear on OpenSea, and the NFTs were significant for their omission. She was the victim of a lavish ruse, snagged by those who preyed on members who read between the lines. Fortunately, Jennie went through a designated hot wallet, and the harm was confined to what she had spent. Others, on the other hand, were not so fortunate.