NFT Thefts, Scams, and Fraud
As NFTs are becoming more mainstream and gaining global recognition, they’re increasingly becoming targets for thefts, hacking and scams. This trend is not going to die down any time soon, it will keep increasing exponentially.
The primary reason for this influx of illegal activities is the anonymous nature of blockchain and irreversible transactions. Identifying and prosecuting violators is next to impossible due to the fact that NFTs themselves lack necessary characteristics to warrant legal action. Additionally, the illegitimate transactions cannot be reversed, leaving no perfect way to resolve the theft of items or money.
I will start compiling a list of all news publications that talk about the rise of these issues and problems in the NFT sector. My hope that these resources will help educate everyone on the risks associated with buying and interacting with NFTs.
This list is in no way complete, and I’ll be updating it as more articles are discovered. Feel free to share with me any articles that you discover as well.
- Artists report discovering their work is being stolen and sold as NFTs
- People are reporting that thousands of dollars' worth of crypto art was stolen on an NFT marketplace
- NFTs are generating huge paydays for some artists, others feel under siege
- Hackers stole NFTs from Nifty Gateway users
- NFT mania is here, and so are the scammers
- People Are Stealing Art and Turning It Into NFTs
- People's Expensive NFTs Keep Vanishing. This Is Why
- Non-fungible tokens are revolutionising the art world – and art theft
- People are stealing over $10,000 in NFTs, and victims can't do anything about it
- NFTs explained: daylight robbery on the blockchain