HomeTrending NewsSpate of “Free NFTs” Scams Blights South Korea

Spate of “Free NFTs” Scams Blights South Korea


Supply: Yury/Adobe

South Koreans are beneath assault from non-fungible token (NFT) scammers who pose as bona fide mission operators to empty crypto from their victims.

Yonhap reported that “phishing emails” that “steal cryptoassets” from their victims are “being distributed on a large scale,” per a warning from the safety supplier East Safety.

The safety agency said that scammers have been disguising their assaults as tasks affiliated with Starbucks and the e-commerce platform Lotte Dwelling Purchasing.

The emails comprise what look like pirated Starbucks and Lotte logos.

These emails promote “free” NFTs and clarify that tokens will be claimed by clicking on embedded hyperlinks.

However clicking on these hyperlinks as an alternative takes victims to “phishing sites” operated by scammers, the agency warned.

South Korean ‘Scam NFTs’ – How Do They Work?

As soon as on this web page, victims are reportedly taken via a variety of steps that finally leads them handy over delicate information.

This information can then be utilized by hackers to interrupt into crypto wallets and drain coin funds.

The safety firm said that the phishing websites had been “crafted with great care.”

Potential victims, the agency mentioned, are offered with QR codes that set up or run a crypto pockets plugin of their browsers.

Scammers then reportedly instruct potential victims to pay fuel charges to obtain their “free” NFTs by “connecting” their wallets.

But when victims observe this step, scammers can achieve entry to wallets.

And as soon as they do that, they’ll drain any funds they discover therein.

A spokesperson from East Safety was quoted as warning:

“As the number of [legitimate] companies enter the NFT field increases, along with [general] crypto investment, the number of attacks that are intended to steal virtual assets will also increase. The public should check [offers] carefully before proceeding.”

Final month, Cryptonews.com reported that the likes of Amazon and Gucci could also be getting ready to enter the NFT area in earnest.


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