An art collector fell victim to an online scam involving a non-fungible token (NFT) but was fortunate enough to have the money returned. The incident began when the collector was directed to a website supposedly belonging to the famous street artist Banksy, showcasing a new NFT page. The collector, unaware of the scam, clicked on a link that led him to an auction site selling an NFT titled “Great Redistribution of the Climate Change Disaster.”
Despite suspicions about the authenticity of the auction, the collector proceeded to bid significantly higher than other participants and sent the funds via Ethereum to the scammer. However, the scammer unexpectedly refunded the entire amount later that day, except for a £5000 transaction fee.
The collector expressed gratitude for the unexpected refund, speculating that media coverage of the hack and his efforts to track down the scammer on Twitter may have influenced the scammer’s decision. This outcome was deemed fortunate, considering that others in similar situations may not have been as fortunate.
The method used by the scammer to hack into Banksy’s website and insert the fraudulent link remains unclear. A spokesperson for Banksy confirmed that the artist had not created any NFT artworks, emphasizing the need for caution when engaging in online transactions involving NFTs.
NFTs, which serve as proof of digital ownership stored on a blockchain, have become targets for cybercriminals seeking to exploit unsuspecting buyers. ESET cybersecurity specialist, Jake Moore, advised buyers to exercise caution and purchase from verified sources to avoid falling victim to scams. He also highlighted the susceptibility of NFTs to abuse due to their lack of physical presence, urging buyers to remain skeptical during the early stages of NFT adoption.