01dcat

Posted on Mar 07, 2022Read on Mirror.xyz

How the scams work in NFT

One of my NFT bots just detect a contract be minted more than 100 times in last 10 mins, and want me to take look(to get some good stuffs)

How it looks like

https://etherscan.io/address/0x6dbc1f3961fd606feaf5fb73245aa4b2674d1e66

this is the contract, and several mint happen in last fen hours and it is called Louis Vuitton (LV)

it was created 2 days ago, and the owner is https://etherscan.io/address/0xbbeec324cdf3fc2629b4f180f493341619063572

What activities on the contract

from the high level point of view, it is fake! But let’s get little closer to get more understand how the scams happen here

What is the Mint will do

https://etherscan.io/tx/0x268c6fc95db75cabdcdc94e4be7c52272c685b3a127b4c7009cddf364817ce59

this mint function only do one thing: give others an nft. Why scammers do this? they are trying to make you believe it is a real one, and the whales are holding them!

Who got the nfts? P you be used again!

How the Opensea looks like

https://opensea.io/collection/louis-vuitton-official-nfts

look at the small checked mark on the icon, it is a gif. The scammers want you believe it is verified .

let’s compare the real almighty mfers: https://opensea.io/collection/mfers move your mouse to the small checked mask, you will see this(Verified Collection)

And more — with 86e floor price to make you believe it is very high value NFTs

And MORE! Scammers have some offers from themselves to make you FOMO ever more.

When the people be tricked and how much them will pay

After you click mint, you will call mint function like this https://etherscan.io/tx/0xe184c0a72b7bf2070c90281782a60f9d7ccc9e152a5bf6fb076fd840e6ed89e7

wow, LFG!! you will get a fake NFTs only 0.12, far more better you get nothing from other scammers.

How to avoid the scammers

Just remember several things:

  • You won’t be that lucky to win a lottery!
  • Those scammers are working very hard to get you money.

NFT