The Brooklyn District Attorney’s Office has taken action against non-fungible token (NFT) fraud. closing 40 Fake NFT Marketplace Sites.
This decisive action followed a Incident in which an elderly artist was scammed out of $135,000..
The victim, 85 years old, was tricked by a LinkedIn contact posing as an art dealerwho encouraged him to mint the artwork on a counterfeit NFT platform designed to imitate the OpenSea market.
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the scammer demanded a “fee” of $135,000 to release the funds. To meet this demand, the artist depleted his retirement savings, maxed out his credit cards, and even took out a loan.
As soon as the artist realized that the promised $300,000 would never materialize, he reported the incident to the Brooklyn District Attorney’s Office.
Brooklyn District Attorney Eric González revealed that the artist used a network of fake NFT websites. These scams specifically targeted creators, manipulated their trust, and exploited their financial vulnerability.
The Brooklyn District Attorney’s Office emphasized the importance of using trusted NFT platforms and remaining vigilant against phishing schemes disguised as legitimate marketplaces.
The office reiterated a warning:
If it seems too good to be true, it probably is. Do your own research and seek opinions from other artists.
Gonzalez hoped that shutting down these fraudulent domains and increasing public awareness would deter future scams.
Recently, another major incident shook the crypto community, involving a massive Solana theft linked to over 8,000 wallets. How did hackers pull off this daring heist? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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