By | May 29, 2025
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How To Avoid NFT Scams

Avoiding NFT scams requires a mix of technical awareness, security habits, and a healthy dose of skepticism. With NFTs (Non-Fungible Tokens) still a target for fraud, here’s how to protect yourself:

🚨 Common NFT Scams (And How to Avoid Them)

1. Fake Marketplaces

  • Scam: Impersonator websites that look like OpenSea, Rarible, etc.
  • Avoid:
    • Always double-check the URL.
    • Bookmark trusted platforms.
    • Avoid clicking NFT links in DMs or random tweets.

2. Phishing Scams

  • Scam: Links or emails asking you to “verify” your wallet.
  • Avoid:
    • Never enter your seed phrase online—ever.
    • Use hardware wallets like Ledger or Trezor.
    • Ignore DMs asking for support or offering free mints.

3. Rug Pulls

  • Scam: NFT projects where creators vanish after collecting money.
  • Avoid:
    • Research the team’s identity and past projects.
    • Be cautious of anonymous founders.
    • Check for clear roadmaps and real community engagement.

4. Pump and Dump Schemes

  • Scam: Artificially inflating NFT prices before cashing out.
  • Avoid:
    • Don’t buy based solely on hype or influencer promotions.
    • Look at sales history and wallet activity.

5. Fake Giveaways / Airdrops

  • Scam: “Congrats! You won—just connect your wallet…”
  • Avoid:
    • Don’t connect your wallet to unknown sites.
    • Real giveaways don’t ask for private keys or wallet access.

6. Malicious Smart Contracts

  • Scam: Minting or signing a contract that gives a scammer control of your wallet.
  • Avoid:
    • Review contract permissions before signing.
    • Use sites like Revoke.cash to remove permissions.

✅ Best Practices to Stay Safe

  • 🔐 Use a Hardware Wallet: Keeps your assets offline and secure.
  • 🔍 Do Your Own Research (DYOR): Always investigate projects thoroughly.
  • 🚫 Turn Off DMs on Discord: Most NFT scams start there.
  • 🔄 Revoke Unused Approvals Regularly: Especially after interacting with new dApps.
  • 📢 Stay Updated: Follow trusted crypto security accounts like @MetaMask and @Ledger on X/Twitter.

🚨 Red Flags to Watch Out For

  • “Guaranteed profits”
  • Time-limited offers with pressure to act fast
  • Copycat websites with minor spelling differences
  • Offers too good to be true (they usually are)

If you ever feel unsure, pause and verify with the community or a trusted source. It’s better to miss a drop than lose your wallet.