Brooklyn District Attorney Warns Artists of Fake NFT Platforms and Scams
Artist Scammed Out of Life Savings on Fake NFT Platform
An 85-year-old artist in Brooklyn was recently conned out of his life savings after falling victim to a fraudulent non-fungible token (NFT) platform. The platform, posing as the reputable marketplace OpenSea, tricked the artist into embossing his work on their site with promises of over $300,000 in sales. To participate, he had to pay a fee of $135,000, which he borrowed from retirement accounts and credit cards.
Digital Art Market Faces Growing Threat of NFT Scams
The Brooklyn District Attorney, Eric Gonzalez, revealed that this case is part of a larger trend of NFT scams targeting artists. Detectives uncovered 40 fake websites using similar tactics to exploit artists and steal their digital assets. The proceeds from these scams were traced to Nigeria, making recovery difficult.
Gonzalez’s office took action by shutting down these fraudulent websites and issuing a warning to NFT artists to be cautious and avoid sharing sensitive information that could compromise their assets. The FBI had previously warned of cybercriminals posing as legitimate NFT developers to exploit vulnerabilities and deceive victims.
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