• The FBI is warning investors that criminals are posing as NFT developers in crypto phishing scams.
• Fraudsters gain access to or create identical social media accounts and refer victims to spoofed websites.
• Victims risk losing their funds if they connect their cryptocurrency wallets to these sites.

FBI Warns of Criminals Posing As NFT Developers

The Federal Bureau of Investigation (FBI) has issued a warning regarding bad actors who are posing as developers of non-fungible tokens (NFT) projects in order to run crypto phishing scams. The Bureau claims that these fraudsters either gain access to legitimate NFT developer’s social media accounts or create almost identical ones in order to deceive users into connecting their crypto wallets to spoofed websites.

Risk Of Losing Funds

If a user connects their cryptocurrency wallet to one of these fraudulent sites, they risk losing all of the funds and assets stored on it, as well as any associated non-fungible tokens (NFT). These stolen funds are then often processed through cryptocurrencies mixers and exchanges in order to hide the path and final destination from the victim.

Advice From The FBI

The FBI has recommended that investors be cautious when they see posts about surprise new releases from well-known NFT projects, double check that the social media account isn’t a fake clone, and verify any website they connect their crypto wallet too is legitimate.

Phrases To Look Out For

Fraudsters use phrases like ‘limited supply’ or ‘surprise release’in order to create a sense of urgency for victims so they will connect their wallets quickly without verifying its authenticity first.

Conclusion

It is important for investors to remain vigilant when dealing with NFT projects online, especially if there is something sudden or unexpected happening related to it – make sure you do your due diligence before investing!