Hacks and scams have become an inevitable part of the non-fungible token ecosystem. At this point, nearly all of the biggest names in the space have been victims of hacking. In yet another scam attack, scammers have just stolen five NFTs on Blur in a phishing attack.
Scammers Steal Five NFTs In A Phishing Attack
In a September 08 blog post, PeckShield, a blockchain security company, confirmed that unknown scammers had drained five NFTs on the Blur NFT marketplace in a phishing attack. Some of the NFTs stolen include Bored Ape Kennel Club #5330, Otherdeed for Otherside #68622, and Pudgy Penguins #1602.
— PeckShieldAlert (@PeckShieldAlert) September 8, 2023
Established in 2018, PeckShield is a blockchain security company that aims to elevate the security, privacy, and usability of the entire blockchain ecosystem by offering top-notch, industry-leading services and products. The security firm has successfully detected and investigated most crypto scams and hacks.
How Can You Safeguard Your NFTs?
Despite the growing awareness around crypto scams, everyone entering the NFT space stands a massive risk of being swindled out of their digital assets by bad actors. Fortunately, collectors can mitigate some risks by adopting some of the standard best practices established by blockchain developers and security professionals.
Proper storage of the crypto wallet’s seed phrase is one the most secure ways to keep your crypto and NFTs safe. By light description, a seed phrase is a collection of randomly generated words that represent the private keys associated with a software wallet and are presented to users when they first create a wallet.
Utilizing a hard wallet is another tested and proven way of safeguarding your digital asset from phishing attacks and related scams. To mitigate scam risk even more, crypto users might consider using a burner wallet, a temporary crypto wallet you can use to make transactions, mint NFTs, or interact with decentralized applications with no holdings or site connections.
Lastly, before even thinking of minting, collecting, signing, or interacting with a website or smart contract, crypto collectors are advised to always triple-check that the portal they are utilizing is safe and authentic. Moreover, crypto users can implement the safety measures outlined by other trusted members of the NFT community.
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