WEB3 security analyst shares crypto and NFT scams on Twitter! On August 21st, Serpent, a WEB3 security analyst, posted a thread informing the community of fraud activities via Twitter.
Serpent on Crypto and NFT scams
On August 21st, Serpent, a security analyst and the founder of Sentinel, a Discord & crypto threat mitigation system powered by AI and the community, posted about some crypto and NFT scams on Twitter. In the thread, Serpent mentioned several types of scams that users experienced
Fake Art Commissions
The scam usually targets artists in the NFT community. Usually, the scammers would slide into the artists’ DM on Twitter by saying they like the artworks and ask to work together. After the targeted artists look interested, the scammers would send a file, which would scrape cookies, passwords, wallet data, and more.
Crypto Recovery Scam
This type of scam happens a lot when there is a hacking issue. In this fraud activity, scammers target users who have already been scammed and say they can recover the funds.
Serpent stated, “They claim to be blockchain developers and say they need a fee to deploy a smart contract that will recover the stolen funds, which is, of course, not possible. They take the fee and run.”
What Should The Community Do?
Serpent also mentioned several other scams people on Twitter have to avoid, such as Unicode letters, fake revoke.cash scam, honeypot account, hacked verified accounts & fake mints/airdrops, and more.
Based on what Serpent posted, it can be a reminder for everyone in the community to be aware of scam activities. They can double-check and research before making a transaction to ensure everything is fine.