Beware of NFT Scam - ARTRECAST

TurusTurus Registered Users Posts: 4 Big grins
in Mind Your Own Business

I have become aware of an NFT scam originating in Europe that involves a seemingly innocent request by a third-party to have some photographs minted as NFTs. The requester then points the photographer to marketplace. In hindsight it becomes apparent the NFT buyer is connected to the scam marketplace (either as an employee, or as someone who gets a cut of what they are able to bring in).
The clues that it is a scam are numerous but include:
No documentation of rules/terms regarding:

  • 0.1 EFT fee per NFT minted
  • Minimum of 3 NFTs must be minted before any NFTs can be sold
  • Withdrawals require making deposit of a 15% withdrawal fee to an unpublished wallet ID that is obtained from an Admin at the point of the withdrawal request.
  • Required to withdraw the largest withdrawal request first (e.g. a 10 EFT withdrawal with 1.5 EFT fee is required to be paid before a smaller 3.8 withdrawal with a 0.6 EFT fee)
    Save yourself a headache and avoid this site like the plague.

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