How to Protect Your NFTs From Being Hacked, Stolen or Scammed?

Beeple, Fewacious, and BAYC or Bored Ape Yacht Club have revolutionized how we see and understand NFTs. Back in the past, artists and creators had to rely on intermediaries for getting their artwork published or sold; however, with time and the rise of decentralized technology and NFTs, things have started to shift back to artists.?

Now they are in full control of their work. Despite this advantage, there’s a little risk involved as well. Since most of the work has been tokenized in NFT form, it is highly likely that they are prone to scams and attacks. In some recent events, the NFT gateway was compromised. The?NFT gateway?that bridges all NFTs under a single marketplace was compromised and the scam had cost collectors and creators thousands of dollars.?

Thus, if you are into NFTs, it is imperative that you have protected them against hacks. In this article, we shall explain how NFTs can be protected against hacks, thefts and scams. Brace yourself if you are looking forward to protecting your NFT in all possible ways;?

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Ways to Protect Your?NFTs?Against Thefts & Scams

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Strangers are not always trustworthy; Do not Let DMs Give Them a Sneak Peak

Most crypto enthusiasts are quite active on Twitter, Reddit and Discord. Those are some of the best platforms for interaction and getting to know and gel with like minded people. Nevertheless, you must keep the DMs inactive for Discord, Twitter and Reddit. The reason for the same is unknown contacts may come up with fishy offers and often people are lured into availing the same. No unknown DM means you are free from all challenges.?

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Fake Minting Sites are no brainer for you?

There are many fake NFT minting sites which look authentic but they are not. Hence whenever a user tries minting NFTs through such websites, their wallets are compromised in the process. Thus leading to a complete compromise of the asset. That being said, always try to verify with legitimate social channels. Preferably, you can visit the official website of the minting marketplaces and cross verify everything. If you are satisfied by validating with Twitter accounts and followers for such web platforms, it would help you take the right course and protect yourself against the scams.?

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Screen Sharing a No Go?

Screen sharing in a regular world is quite okay, but in the crypto world, things shape in a truly different way. Scammers may ask you to share the screen and they can get into sharing keyword phrases for wallet recovery through manipulation. They have ample ways to get into such manipulations where you simply oblige to their whims and fancies. In one of the rare scams, a user by the name?Sohrab??was scammed of $1 million in ETH where the trickster had demanded of screen sharing and Sohrab obliged thinking that he was talking to the founder of BAYC, but in actuality, they were a group of scamsters.?

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Hardware Wallets for NFTs

Keeping all your assets in one wallet means you are creating one sweet spot for a raid. Having said that, it is highly advisable to use multiple wallets and keep your crypto eventually distributed. The same goes for NFTs as well. But at no point in time, you should be storing the 12 phrase recovery phrase on your computer or cloud. If you are doing that, in one way or the other, you have been attracting challenges in your life for sure.?

These are a few ways through which you can keep yourself secure and enjoy the benefits of investing in crypto and NFTs.?