Student falls victim to NFT scam, loses $548,000 to 'a good deal'

A senior student has fallen victim to a scam that has cost him $548,000 to what the seller was describing as a 'good deal.'

@JakConnorTT
Published Fri, Feb 25 2022 1:03 AM CST

Non-Fungible Token (NFT) scams are plaguing the industry, with it seeming like someone is falling victim to a scam at least every week.

Student falls victim to NFT scam, loses $548,000 to 'a good deal' 01 | TweakTown.com

It was only recently that a notorious Twitch streamer scammed his community out of $500,000, and now reports indicate that a senior student at Shanghai's Tongji University has also fallen victim to a similar amount of money. Niq Chen, the senior student at the university, spoke to the South China Morning Post and said that he purchased the NFTs from a project called "LuckyCot 3D", and they consisted of around half of his total NFT collection.

Chen reports receiving a link, which turned out to be a phishing scam. Once Chen clicked on the link, his collection of NFTs worth around $548,000 disappeared, with the scammer then immediately selling an NFT to a private individual whose identity wasn't disclosed. After realizing what had happened, Chen attempted to purchase the stolen NFT back, but the buyer of the stolen asset said that what he received was "a good deal".

For more information on this story, check out this link here.

Buy at Amazon

innoGadgets Physical Bitcoin Plated with 24-Carat Gold

TodayYesterday7 days ago30 days ago
$7.95$7.95$7.95
* Prices last scanned on 7/6/2022 at 6:05 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:bitcoinist.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles