The faster the world of cryptocurrency and NFT is moving forward and scammers are taking advantage of it as fast as it is. The number of cheated sites is increasing day by day by luring investors in NFT and Crypto Space. One such suspicious website has surfaced, named Magicnft.xyz, who has scammed with many users and has come up with several allegations. In this blog, we will understand in detail how magicnft.xyz scams with users and what you should take care of to avoid it.
Enchanment NFT.XYZ scams users in many ways by luring users
Fake NFT sales net
Enchanment nft.xyz first advertisement of quite beautiful, attractive and ‘Limited Edition’ NFTs to attract its users, which makes the artworks available on the website look real and professional in appearance and no one is suspicious.
But in reality these NFTs are either copy of any art already existing art or completely fake. When users pay their wallets to buy them, their NFTs are neither transferred nor money back. On the other hand, if NFT is found many times, then it is like a valuana or bogus token which is impossible to rely. In this way, rumors in NFT space scams with users through fake information. Let me tell you, rumors continue to come out in the fields of NFT and Crypto, like recently Fund NFT withdrawal Life is rumored And people are discussing this.
Working like a fishing website
Enchanment NFT.XYZ acts like a fishing site, which means that this website is only the NFT platform to show, but its real purpose is to steal your personal data and crupto wallet information. When a user logins on the site or connects its wallet to the website, this site steals your login details, seed frames or private keys in the background. After this, scammers transfer all cryptos and NFTs present in your wallet and the user comes to know when it is too late.
Fake bonus and incentive offers
Enchanment offers attractive offers like “50% discount”, by 1 gate 1 free and special limited offer to attract users. Seeing these offers, the users think that this is a good chance and decides to buy NFT quickly without doing more research.
But the truth is that all these offers are completely fake. There is neither a discount nor an extra NFT. By the time the user comes to know the reality, his money has gone into the wallet of the scammer.
Wallet access scam
Wallet access scam is one of the most dangerous scams, in which scammers directly capture your wallet. Scam platforms like Enchanment NFT.XYZ often send links to connect wallet to users, which states – “Connect walt to claim nft” or “Authorize to buy”.
As the users connect their wallets to the site and give permission, scammer acquires full access on the wallet. After this, they transfer all funds from your wallet. Many times, the wallet is also repeatedly accessed by running automated smart contracts in the background.
Enchanment to avoid nft.xyz scams, keep these things in mind?
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Check the website’s authenticity: Before going to any NFT site, check its background, user review, and social media accounts.
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Never share seed frames: No matter how trusted a website looks, never share seeds or private-key with anyone.
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Keep Wallet Permission Limited: Give limited permission to any DApp and review the permission from time to time by going to a wallet like Metamasask.
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Beware of offers: If an offer looks great, it may not be real. Invest thoughtfully.
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Use Real NFT platform: Use only reliable platforms like Opensea, Rarible, Bedrock.
Conclusion
Fraud platforms such as magicnft.xyz target investors by taking advantage of the rapid growing popularity of NFT and cryptocurrency. Therefore, it is important that you be aware, check any deal without trusting it and prioritize the safety of your digital assets. A small careful step of yours can protect you from big losses. Remember, Crypto and NFT have as much profit as there is a risk.
Also read:Know in detail what is MFEV
