How to avoid NFT scams

Yuga Labs The team at Yuga Labs confirmed that the Discord account of their Community and Social Manager, Boris Vagner, was compromised, and hackers shared phishing links that advertised a faux giveaway. This post specifically targeted NFT owners, implying that the exclusive offer was only for those who had existing NFTs in their wallets.

How to avoid Discord scams

To grasp how this hack occurred, we should first delve into the nature of Discord. It's a popular chat app well-known for its user-friendly interface and robust two-factor authentication features. However, its casual approach has made it a go-to for gamers and crypto enthusiasts. Unlike Slack, which is designed for business engagements and has stringent security protocols, Discord offers a more relaxed chatting experience.

While Slack necessitates a thorough sign-in process and alerts users to foreign visitors, Discord’s model allows for quicker logins by anyone, prioritizing convenience over stringent security. While this is beneficial, it becomes a double-edged sword when a user’s account is compromised.

This leniency means that if a hacker gains access to an account, they can cause significant disruption in a popular channel, similar to what could happen in Telegram or Signal groups. Moderators, like Boris Vagner from Yuga Labs, wield considerable influence in their chats, leading eager community members to act on their announcements without question.

In this instance, attackers gained access to Vagner’s account and shared a deceptive offer promising a giveaway, suggesting it was exclusive to those who held pertinent NFTs. Discord Participants lured by the tempting offer were asked for their login details to join the giveaway, inadvertently granting hackers access to their valuable holdings. Bored Ape Yacht Club , Mutant Ape Yacht Club , and Otherside Here are three essential guidelines for maintaining security on Discord:

Firstly, refrain from clicking on any links shared in Discord, especially those that claim to provide free NFTs or giveaways. Remember, there's no such thing as a free NFT or genuine promises of cash prizes from celebrities like Elon Musk. Repeat this to yourself: there are no legitimate giveaways. Even if a well-known NFT developer says they’d like to gift you a digital asset, provide only your wallet address and nothing else. Serious creators never ask for login credentials.

Secondly, treat your Metamask wallet with the utmost respect. You should never need to log into your wallet to claim a free NFT. Occasionally, you may be required to authenticate with Metamask, but that’s entirely normal. Scammers may be clever, but they often ask for something out of the ordinary when you attempt to take advantage of their allegedly generous offers. Stay alert.

Lastly, consider avoiding Discord altogether. To be frank, many Discord servers for projects are filled with overly enthusiastic chatter and chatter that doesn't add real value. Though there are occasions where NFT creators might discuss unique features or updates, most of the time what you’ll encounter is just excitement for price increases or expressions of love for specific projects. Keep in mind, those extolling the virtues of certain NFT projects are often driven by motivations beyond mere passion, akin to someone praising a casino because the restaurant offers great steaks.

In summary, Discord lacks reliability. Its vulnerability to hacking, the ease of impersonation, and the overly noisy environment make it less beneficial for the average user. Stay aware and cautious.

This latest incident isn't the first concerning the Bored Ape Yacht Club this year. Back in April, BYAC’s Discord was compromised.

That same month, BYAC's Instagram was breached in a similar attack, allowing hackers to pilfer approximately $3 million worth of NFTs from unsuspecting users.

And it’s not just Discord.

Clearly, there's a larger issue at play regarding NFT security protocols. Earlier in March, the Discord server for Rare Bears was also compromised, leading to an $800,000 theft of NFTs. In May, hackers used Discord again to circulate a phishing link, and during that same month, assets valued at $1.5 million were stolen—often triggered by nothing more than a single malicious link. were hacked It's evident that NFT owners must exercise caution with their wallets, but the sheer volume of scams surfacing on social media platforms raises an important question: who should shoulder the blame? compromised One of the founders of BAYC, Gordon Goner, attributed the hacks solely to Discord, completely absolving Yuga Labs of responsibility. In the wake of the breach, Goner tweeted, 'Discord has failed us; it's clear we need a more secure communication platform.'

While we don’t know what security enhancements Yuga Labs implemented after the April incident, it’s apparent that they fell short. Goner makes a strong point about the metaverse necessitating a safer communication environment. However, as long as companies continue to utilize widely-used platforms like Discord, Instagram, and Twitter, they also bear the responsibility for ensuring both their security and that of NFT holders. was compromised Stay cautious and safe out there, explorer of the Metaverse. non-existent YouTube partnership on OpenSea Syndicate successfully raised $6 million through an 'informal' funding round. 29 Moonbirds BAYC and Otherside Discords fell victim to a giveaway scam.

Please remember that the information on this page is not intended to serve as legal, tax, investment, financial advice, or any other type of guidance. It's crucial to only invest what you can afford to lose, and if you have any uncertainties, seek independent financial advice. For more details, we recommend reviewing the issuer's or advertiser’s terms and conditions and help resources. MetaversePost is dedicated to providing accurate, unbiased reporting; however, market conditions can change unexpectedly.

Karolina is a writer and journalist with a passion for literature. She’s fascinated by innovative technology and art, particularly the fusion present in NFTs. When not working, she enjoys nurturing her plants, exploring vintage fashion, and indulging in her gaming hobby. Web3 communities Blum marks its one-year milestone with accolades for 'Best GameFi App' and 'Best Trading App' at the Blockchain Forum 2025.

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