• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Bull Market Restarted!!!

2025-08-12

Bitcoin Holders…Watch Out For This

2025-08-11

This is the Breakout Zone for Bitcoin and Crypto

2025-08-11

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

    2025-08-11

    What Is Crypto Arbitrage and How to Use It in Trading?

    2025-08-06

    What’s the Difference & Which Is Better to Trade?

    2025-08-01

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    2025-07-31

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    2025-07-25
  • Videos

    Bull Market Restarted!!!

    2025-08-12

    Bitcoin Holders…Watch Out For This

    2025-08-11

    This is the Breakout Zone for Bitcoin and Crypto

    2025-08-11

    (Don’t) Sell All Your Bitcoin For Ethereum!

    2025-08-11

    Bitcoin Strength Returns | Crypto Bull Week

    2025-08-10
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»NFT»FBI Warns of Rising NFT Scams and Urges Vigilance in Digital Collectibles Market
NFT

FBI Warns of Rising NFT Scams and Urges Vigilance in Digital Collectibles Market

2023-08-07No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The Federal Bureau of Investigation has issued an urgent warning about a burgeoning scam, criminals masquerading as non-fungible token (NFT) developers.

This ploy has emerged within the digital collectibles space, where bad actors exploit the marketplace and user vulnerabilities, posing a rising threat to the integrity of the already-battered NFT industry.

NFT Scams Continue to Be a Lucrative Attack Vector

Scammers operate under the guise of established NFT developers, either gaining illicit access to their social media accounts or creating deceptive duplicates. They cunningly stoke a sense of urgency among unsuspecting followers, announcing surprise minting opportunities of limited supply.

Beneath the facade, these are far from generous offers; the websites linked are mere spoofs, leading victims to drain their cryptocurrency wallets inadvertently to a malevolent smart contract. The pilfered contents are then diffused through a network of crypto mixers and exchanges, obfuscating their illicit origins.

“Unfortunately, criminals are getting more sophisticated, using the surge in NFT interest to target innocent enthusiasts,” warns an FBI spokesperson. They continued:

“We urge the community to stay vigilant, report any suspicious activities to us immediately, and always remember the adage: if it seems too good to be true, it probably is.”

Ethereum continues to host the lion’s share of NFT transactions, capturing an 84% market share as of June 2023. Despite a slight dip in Ethereum’s dominance recently, NFT marketplaces remain a lucrative playground for fraudsters.

Top NFT Chain Market Share Values. Source: CoinGecko

Meanwhile, Bitcoin’s role in the NFT space has seen a remarkable rise. It currently commands 11% of the market share. Bitcoin Ordinals are innovative applications of text and other media inscribed on the Bitcoin blockchain. Their popularity has also contributed to NFT sales figures.

See also  An Opportunity for Bulls According to Macro Guru Raoul Pal

Stay Informed, Stay Vigilant

However, this explosive growth in NFT popularity has a dark side. The anonymity of blockchain technology and the sense of urgency often injected into NFT releases have inadvertently created a fertile ground for scams.

The FBI urges NFT enthusiasts to research all minting opportunities, verify the authenticity of related social media accounts, and also scrutinize any website requesting permission to connect to your wallet. The best defense against such scams is a community of informed, vigilant users who remain cautious about too-good-to-be-true offers.

The Bureau’s appeal to victims to report fraudulent activities underlines its commitment to maintaining a safe NFT market sector. The NFT market has experienced waves of popularity over the past few years. It is crucial for law enforcement and the community to collaborate effectively to counter cyber threats.

A future-proof digital art market hinges on relentless vigilance and stringent protective measures. The collective commitment of developers, artists, investors, and law enforcement is needed to stamp out fraud.

This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

Collectibles Digital FBI market NFT Rising scams Urges vigilance warns
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bull Market Restarted!!!

2025-08-12

The Digital Prison Walls Are Closing In

2025-08-03

Bitcoin Braces for Impact as Market Jitters Grow

2025-07-29

This Is NOT A Normal Bull Market Anymore

2025-07-28
Add A Comment

Leave A Reply Cancel Reply

Top Posts
NFT

Gala Music Unveils Innovative STGE App with First Live Show

2023-11-10

Gala Music, a trailblazing decentralized blockchain music platform, is excited to introduce the STGE app,…

Videos

US-China Trade War 2025: Are We Heading Toward Economic Collapse?

2025-03-18

As the US-China trade war approaches its seventh year, patience is growing thin in Beijing.…

NFT

Maximizing Profits Will ‘Kill’ Web3: Animoca Brands Chairman

2023-02-26

NFT Creator royalties have taken a back seat in the NFT space as marketplace OpenSea…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Bull Market Restarted!!!

2025-08-12

Bitcoin Holders…Watch Out For This

2025-08-11

This is the Breakout Zone for Bitcoin and Crypto

2025-08-11

What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

2025-08-11
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 122,018.69
ethereum
Ethereum (ETH) $ 4,725.89
xrp
XRP (XRP) $ 3.27
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 842.32
solana
Solana (SOL) $ 199.35
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 4,712.74
dogecoin
Dogecoin (DOGE) $ 0.242608
tron
TRON (TRX) $ 0.360785
bitcoin
Bitcoin (BTC) $ 122,018.69
ethereum
Ethereum (ETH) $ 4,725.89
xrp
XRP (XRP) $ 3.27
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 842.32
solana
Solana (SOL) $ 199.35
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 4,712.74
dogecoin
Dogecoin (DOGE) $ 0.242608
tron
TRON (TRX) $ 0.360785