Your NFTs: Are They Well Protected?

NFTs are unquestionably the rage this decade. Everyone wants a piece of the NFT universe, whether it’s Eminem or Justin Beiber or Adidas, Nike, or Disney. However, when an NFT sells for millions, it’s likely that there are others on the internet waiting for that one mistake to take your million-dollar digital property and make it their own. It should come as no surprise that any wallet on the internet is vulnerable to being hacked and stolen. While the NFT sector is profitable, it’s also full of scammers due to a lack of regulation. Because of blockchain’s inherent security, it is highly unlikely that anyone will lose their assets as a result of a blockchain-level hack, but there are a growing number of other scams involving fake NFTs, price inflation by traders who sell NFTs to themselves, bugs that allow attackers to get massive discounts on popular NFTs, the increasing use of NFTs for money laundering, and so on—as such, being careful is of the utmost importance. We’ll be looking at some simple practices that an NFT enthusiast could look into to protect their precious JPEGs better. Avoid communicating with strangers on social media The first point is as simple as can be. Avoid exchanging personal and private information with strangers, especially through a social network account. Social media platforms such as Discord, Twitter, and Instagram all allow you to communicate with strangers publicly and get to know them before sp...