NFTs: The Risks and Scams You Need to Know

Phishing scams: In a phishing scam, the scammer will send you an email or text message that looks like it's from a legitimate source, such as an NFT marketplace or a celebrity. The email or text message will often contain a link that, when clicked, will take you to a fake website that looks like the real website. Once you're on the fake website, the scammer will try to steal your personal information, such as your login credentials or your cryptocurrency wallet address.

Bidding scams: In a bidding scam, the scammer will create a fake NFT listing for an item that is in high demand. The scammer will then bid on the NFT themselves, driving up the price. Once the price of the NFT is high enough, the scammer will withdraw their bid and leave the other bidders holding the bag.