The NFT industry is getting spotted with phishing scams, which also did not leave out a brand like Louis Vuitton Konomi. In fact, phishing scams have plagued all spheres of internet activity. It is no more a new concept and numerous people have fallen prey to various types of scams. In fact, scammers have really developed through the years. Whenever any innovation comes to the community, it does not take long for scammers, phishers and cyber criminals to attack it. However, their most recent target is the NFT industry.
The NFT industry has witnessed significant growth in recent times. In fact, various famous personalities like Snoop Dogg and others have come forward with their own collections of NFTs. The industry has many of its supporters from the entertainment industry. However, phishing attempts and scams have already started to plague the industry. In fact, cybercriminals have started to devise various methods to deceive victims and steal thier assets.
In fact, a similar attempt was recently discovered that centred around Louis Vuitton Konomi. There have been many other scams like this in recent times. Therefore, if you wish to learn more about the Louis Vuitton Konomi phishing attempt and the overall news about scams and phishing attempts in the NFT market, then this article is the perfect stop for you. Keep reading the article to further details about NFT phishing attempts.
NFT and Phishing
We know that NFT stands for non-fungible token. In fact, it is a digital asset based on blockchain. It is in a way similar to the likes of Bitcoin and Ethereum. NFT contains asset verification information. In fact, each token characterises a unique unit of asset. However, these NFTs have become targets of phishing attacks. One such instance of a phishing attack occurred with Moonbirds.
Moonbirds is an NFT collection of 10,000 utility-enabled PFPs. It appeared on the market in April and soon took the NFT industry by storm. However, the phishers have already started to target this NFT collection within such a short time. In fact, one of the Proof Collective members recently reported a phishing attempt that resulted in the loss of 29 Moonbirds.
⚠️ Beeple's Twitter account has been compromised (ATO) to post a phishing website to steal funds.
— harry.eth 🦊💙 (whg.eth) (@sniko_) May 22, 2022
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0xF305F6073CFa24f05FF15CA5b387DD91f871b983 pic.twitter.com/0MPNwOPlEu
In fact, during the time of the incident, the value of 29 Moonbirds was equal to around $1.5 million. Now that is really a serious loss. The NFT collector shared this news along with a screenshot of the transactions. However, as soon as this news became public, one Twitter account named Dolar tagged a Twitter account “@DVincent_”.
The account named Dolar has pointed to the account “@DVincent_” as the suspected person behind the phishing attack. However, the claim is yet to be verified. Dolar has further claimed that the Proof Collective members and the Moonbirds creator have drafted a full report to the FBI.
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Dolar stated that if the pointed culprit does not return the stolen assets that report will be sent to the FBI. In fact, another NFT holder also accused the culprit of convincing the other collector to utilize the fraudulent platform for a private transaction. Follow the link to see the tweet of Dolar:
Louis Vuitton Konomi: The Phishing Process
Cyber hacking, otherwise known as phishing scams, are on a rise in the NFT market. The process that the scammers use is an old one, but each time equally effective. In fact, one of the most common mediums of phishing is Twitter.
In recent times, various NFT projects and artists have amassed a huge fan following on Twitter. A large number of Twitter users and enthusiasts follow them, just like any other platform. This very fact has increased the danger of impersonated accounts. The scammers can also compromise official accounts and use them to publicly share phishing links. Scammers also text the followers of popular Twitter accounts impersonating someone important. They also tell the user that the user has won certain rewards like a special reduced transaction fee.
After convincing the user they will send a phishing link. As the user clicks on that link, the scammers steal all the information required for phishing. Thus it is always good to cross-check the NFT platform before believing any link.
Twitter and NFT Hacks
Recently, scammers and phishers have targeted Twitter for carrying on their illegal activities. Recently, such a scam occurred from the Twitter handle of Beeple. Beeple is a prominent figure in the NFT market. Beeple stated that the hackers hacked the account to share phishing links using the handle.
In fact, the scammers posted malicious phishing messages about a fake giveaway involving Louis Vuitton Konomi. incidentally, in May, Beeple joined hands with Louis Vuitton Konomi to bring out 30 rewards NFTs. It is very likely that the scammers will be quick enough to utilise this news to perform more phishing, robbing people of their assets in this process.
ugh we’ll that was fun way to wake up. 😫
— beeple (@beeple) May 22, 2022
Twitter was hacked but we have control now. Huge thanks to @garyvee ‘a team for quick help!!!! 🙏🙏🙏
Concluding Lines
The NFT market is therefore not safe anymore. The most important reason behind this is that the market is highly unregulated. Using various social media channels and profiles the scammers are spreading the network of phishing rapidly around the world. In fact, they are also not leaving the big brands like Louis Vuitton Konomi.
Therefore, it is always important to crosscheck any link that you might receive, related to NFTs. If you do not cross-check, then there is every possibility that you might become the next target of a serious NFT phishing attempt.
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