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NFT Security 101

Securing your NFTs (non-fungible tokens) is essential. NFTs can be valuable, attracting scammers who target inexperienced users. This guide will help you understand common scams and simple steps to protect your digital assets.

Common NFT Scams Explained 

  • Rug Pull Scams: Scammers create fake NFT projects to attract investors, then vanish with all the money. 

  • Phishing Attacks: Hackers trick you into revealing wallet details through fake emails or websites. 

  • Pump-and-Dump Schemes: Fraudsters hype NFTs to increase prices artificially, then sell quickly, leaving buyers with worthless NFTs. 

Essential NFT Security Practices 

Follow these simple steps to keep your NFTs safe: 

  • Never Share Private Information: Keep your wallet’s private keys and seed phrases secure and offline. 

  • Use Two-Factor Authentication (2FA): Add extra protection to your wallets and marketplace accounts. 

  • Think Before You Click: Avoid clicking links in unexpected emails or messages. 

  • Use Hardware (Cold) Wallets: Store valuable NFTs on physical devices to protect against online hacks. 

  • Check Wallet Permissions Regularly: Remove unnecessary permissions with tools like Revoke.cash. 

What to Do if Your NFTs Are Stolen 

If your NFT wallet is compromised, act quickly: 

  1. Disconnect Your Wallet: Immediately disconnect from all apps and NFT marketplaces. 

  2. Review Transactions: Check your wallet activity on sites like Etherscan or Polygonscan. 

  3. Report the Theft: Inform NFT marketplaces (OpenSea, Blur, Magic Eden) and your local police. 

  4. Secure Remaining Assets: Transfer any remaining NFTs and crypto to a new, secure wallet with 2FA enabled. 

Protecting your NFTs is about staying informed and cautious. Follow these simple practices consistently to keep your digital assets safe from scams and theft.