How the scams work in NFT

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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

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

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

What activities on the contract

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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

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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!

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How the Opensea looks like

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

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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)

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

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

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When the people be tricked and how much them will pay

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

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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.