90% of NFT holders have already been scammed

The NFT market has gone from shadow to light in a year. To the point of displaying volumes now counted in billions of dollars. An explosion at the root of real success for certain collections that have become emblematic. But one of the direct consequences of this is also the multiplication of all kinds of scams against its holders. Because profits attract investors, which inevitably bring a horde of thieves looking for the slightest weakness. A reality that is not anecdotal as a recent study states that 9 out of 10 holders have already fallen victim to scams in the field.

It’s a shame to admit that getting scammed is almost a must in the cryptocurrency industry† This be it on a project whose members disappear with the fund in carpet pulling mode. Or a fraudulent site that displays a link that you are not allowed to click. Not to mention targeted phishing operations or other careless mistakes with disastrous consequences. Because safety is a personal matter that should not be overlooked.

A reality that must be taken into account, especially in the NFT sector. And this is primarily because it is a market with significant adoption outside the crypto zone. That is to say, a real godsend for seasoned digital scammers with often very fruitful fantasies. Because the technique doesn’t 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 to have performed the operation.

NFT – 9 holders out of 10 scam victims

A critical situation, according to the recent study published by the PrivacyHQ site dedicated to digital security. The latter happened in the United States, after a thousand active investors and holders of NFTs. Because the conclusion is unfounded: 9 out of 10 respondents say they have already been the victim of field scams† A figure that gives food for thought about the behavior to be put in place to protect these precious digital images.

After talking to 1008 people in the US who actively invest and own 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 could recover them.† †

PrivacyHQ

A study that allows to determine an average investment of $632 for the panel in question. But whose? only 47.8% of investors consider their NFTs to be truly safe† With a MetaMask wallet approved by 52.8% and whose protection capacity is considered sufficient by 63.8% of those surveyed. Yet a 14.6% share is simply convinced that their NFTs are not safe at all.

NFT – The Most Common Scams

The vast majority of respondents (67.3%) say they use complex and secure passwords. As well as two-factor authentication (2FA) as digital basic hygiene (65.2%). But just over half (55.3%) say they keep their mnemonics in a really safe place. An obvious weakness when we consider that 16% of the respondents have already undergone an effective hack. However, this without 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 undoubtedly the carpet-pulling technique. Ghost projects created for the sole purpose of disappearing with investor money. A reality that affects 43.8% of those surveyed in this survey. With a 43.3% share of scam victims on fake platforms selling NFTs. Sometimes perfect copies of official marketplaces. Also a third of the respondents who linked to fraudulent customer serviceclaim management of a problem to request confidential information.

A survey shows that the surveyed panel of investors consists of people who are informed about the risks involved. But despite this, a simple moment of inattention or over-excitement can turn out to be dramatic. Of a surprising proportion of over 90% of lucky people who claim to have recovered all or part of their NFTs, to which they had “lost access. It will be necessary to explain how!

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