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Fake Technical Support

Another type of scam that dominates the NFT space is the imitation of customer support staff for popular NFT projects. The way it works is that a scammer or a group of scammers scout for NFT investors with complaints on platforms like Discord and Telegram. Then, they send a message to these investors, masquerading as support staff of the NFT project concerned. They direct these investors through a process that imitates typical customer support, thereby establishing trust. The victims are then required to share sensitive details such as their private wallet keys or 12-word security seed phrases. With this information, the scammers can access the victim’s wallet and steal their stored crypto and NFTs. Given the detail and meticulousness of this scam, it is usually successful. For instance, in August 2021, thieves  scammed an NFT collector of about $480,000 through fake technical support.

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