Matty Profile picture
20 Sep, 22 tweets, 7 min read
Alright, SCAMS are getting out of control in NFT land.

Here's a short thread on the different scam types I've seen and some thoughts on keeping safe.

1/ Thread. 👇
2/ Please correct/add to any of these tweets.

If you think there's a better way - add. If you've seen something else - add.

This thread is just what I've personally seen.
3/ First let's go through a bunch of different types of scams.

- The discord DM. Whether it be from a "known" person or brand. ALWAYS check if something is dodgy.

Below is someone impersonating Akira trying to get people FOMO clicking the link.

DON'T VISIT THE LINK IT'S FAKE
4/ The dodgy brand email.

Ok so the below seems legit BUT there are many instances where you'll get a very similar email but the link will be different/fake.

People are just trying to get you to a site where you can slip and give away you passphrase/wallet access.
5/ Discord again,

Those times when a trusted friend messages you, or maybe a project admin, "asking for help".

Honestly, try find their legit handles and DM them directly to see if the convo pops up.

Here's someone impersonating me trying to scam my buddy. Didn't happen.
6/ Twitter DM's that sound too good.

This one is for Artists/creators.

If you get a DM from someone saying they'll buy your art if you do "x". Don't trust them.

Sometimes they ask for you to send some $ or sign up somewhere etc.
7/ Impersonators/Airdrops.

In the below cases, verified accounts have been hacked and 'rebranded' to impersonate popular personalities/projects.

On first glance, it seems legit. What's off?

- The handle,
- Airdrop promotions,
- Spelling, (lol),
- Account comment/engagement
8/ Paid Ads scams, (Google).

Google ads allow anyone to bypass rankings and appear #1 in search results.

In the below, many DeFi projects have paid ads phishing for user passkeys.

9/ Fake NFT sellers.

Probably will see a lot of this, people ripping others Art or NFT projects, getting a BS verified check somehow and selling them.

There's already fake Metakey and Akira sellers, etc.

If it doesn't come from the brand/creator/artist it has no value.
10/ Getting your account on a #crypto exchange hacked,

This poor guy had his account hacked.

Sim swapped & email hacked so they had his phone number to verify 2FA & confirm transaction via email.

2FA via mobile phone number is a security risk.

11/ YouTube channels hacked and 'giveaways' streamed,

This happens a little too often.

Popular YouTube accounts hacked and some sort of BS giveaway streamed. Seems to have the same set up for now, but mane new ones will come.
12/ 'Airdrops'.

99% are scams or attempts to get you to provide your keys. Especially on Telegram.

In this case, an account attempting to be Uniswap and promising another Airdrop.

Also has a ton of likes and appears 3rd on Twitter search. FAKE.
13/ NFT projects that are selling garbage.

"Crypto Celebrities" raised $10M+ selling images of famous people as NFTs lol.

Playing off the CryptoKitties hype where 'everything can be an NFT!'.

IP's matter, unless you have the rights, you're probably going to get a C&D.
14/ Ledger Database Hack,

One of a few hardware wallets where you can access your wallet without entering passkeys online.

Secure. BUT all customer details were dumped a while back on a forum. So now people are getting 'firmware update' emails/message links
15/ "Send me some $ I'll invest for you - it's a great opportunity".

Fell for this like 2-3 years ago, lost 1 ETH but the guy kept going back and forth with me on new ICO info so I trusted him.

Never heard back lol. Learned.
16/ AJ recently got hacked - seems someone was able to do it through Opensea via sending some garbage NFTs. (which sounds scary af).

The industry is still investigating. I'd suggest keeping up with this thread.

17/ FAKE MINTS.

Devs making it look like NFT influencers are minting NFTs but in reality it's not the case.

They know many people "watch" wallets to see activity. The below thread by Vic, our Metakey Dev goes through this.

18/ The above are some of MANY.

The reality is, scammers are as creative as everyone else in this industry, they keep figuring out new ways to trick people.
19/ What I've seen work well,

- Avoid ANYTHING that seems remotely off/out of the norm

- Double check incoming DM's from friends, (make sure there's message history).

- Not store/expose my wallet keys on Digital devices.
20/

- Keep my long hodl/valuable assets in a "cold wallet". A wallet you don't regularly touch and have strong security measures around.

The wallet you DO use to interact/buy new NFTs should have barely anything in it. That's why people have NFT vaults.
21/ Again, please feel free to add to this at anytime.

Got better measures? Please add.

Stay safe out there. 🙏
Please share this Thread as much as possible! Would like everyone to just stay safe.

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More from @DCLBlogger

22 Sep
How to get #NFT rich without getting lucky.

A short thread 👇

1/
2/ Get Money.

You limit your opportunities in this space by saying "I'm just going to test with $100".

Better to find a consistent revenue source to make sure you can take MANY shots.

P2E games, discord admin, make art, many opportunities to earn here, (if you need to).
3/ Work harder than others.

Most can't be bothered crossing hurdles, learning Metamask, learning Art, gaming, diving deep into discord, etc. That's opportunity for those that DO.

Hurdles are the universes way of filtering the worthy and non-worthy, (through effort).
Read 14 tweets
19 Sep
There's been some recent 6-7 figure Rare Pepe & Spells of Genesis sales.

Here's a thread on Why + What + Data + How to buy.

Pepe's may take over the internet in the coming months,

Thread 1/
2/ Disclaimer: I own ~ 7 figs of the above so be critical of this thread and always do a lot of your own research/look at critical takes etc.

NFTs/Crypto is a high risk space.
3/ What are they.

Early Art/game cards, etc on a protocol called "counterparty" built on the Bitcoin blockchain.

Basically like a mini early Ethereum.

Turns out before cryptopunks, there were many early art, game, etc experiments on Bitcoin!
Read 19 tweets
12 Sep
Why do people spend Millions on NFTs when you can just download the JPEG?

$6M for a punk instead of a beautiful house?

Is it Money Laundering?

Is it legit?

1/ Let’s explore 👇
2/ This industry kind of jokes about “buying JPEGs”, when of course there’s more going on here.

To understand NFTs you must understand the basics of blockchain, (The tech behind Bitcoin).
3/ What does it mean to own 1 Bitcoin?

It means the blockchain, (an open ledger - record keeping system), has denoted that your digital wallet has '1' Bitcoin token.

Like the below wallet,
Read 21 tweets
11 Sep
Terming everything in this space an “NFT” is inaccurate.

NFT = each item has a unique ID, indivisible, etc. (Non Fungible).

The below have FUNGIBLE characteristics.

Enjin items,
The sandbox items,
Twitters release,
Rare Pepe’s,
Curio Cards,
Metakey,
80%+ Rarible art,

1/
2/ for example these Twitter tokens have the same ID, (3), and are the erc-1155 standard which allows you to batch them.

Does this all matter? If you’re looking for something 1/1 unique, yes.

Twitter themselves refer to them as NFTs and the cheapest is $100k+ ImageImage
3/ Thought I’d write this because I/we see the term NFTs used for everything.

When in the future that might change.

“Semi-Fungible Token?” (SFT)?“Cryptocollectible?”
“Cryptoart?”
“Smart-collectible?”

Or just NFTs for simplicity’s sake?
Read 5 tweets
7 Sep
A short thread on how to win at NFT investing.

👇
1/ Be open minded.

Try new things, it’s fun and expands the mind.

You also stumble upon way more opportunities and ways to get involved.
2/ Spend money.

Getting free stuff is cool, but you make real money when you spend real money.

Maybe it’s just my experience.

But utilise wealth to build more wealth. It’s more scalable.
Read 11 tweets
2 Sep
8 reasons why the NFT industry behaves completely different to the real world.

You cannot analyse it the same way - there are different dynamics at play here.

Thread 1/👇
2/ Currency.

The currency of the real world is fiat. Deflationary, representative of the local economy, supply-demand controlled but the government.

Here it’s ETH, BTC, SOL, etc

Fixed supply, Community gets wealthy which gives them enormous spending power.
3/ Wealth.

Tied to the above.

People in the real world have made their wealth through long hours, weeks, years making an income.

Here, people have made it with strategic investments, lately trading NFTs from $100s to Millions $.

Who’s a more liberal spender demographic?
Read 10 tweets

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