NFT Influencer Swindled Of His Crypto – Here’s How

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The number of crypto scams involving NFTs is increasing in the community. A new scam appears almost every day. Some of the most infamous scams involve rug pulling and cash grabs. Often a project will pop up, get pumped, and then be abandoned, leaving investors with no return on their investment.

If you wake up in the morning and discover that your entire crypto wallet has been emptied out by a thief, what do you do? Customer service on decentralized platforms isn’t always stellar. Therefore, peer-to-peer transactions sometimes require peer-to-peer support.

A NFT degen named 0x_fxnction turned to social media to air his grievances. Approximately 1:30 in the morning on Tuesday, his wallet was compromised for 2349 Solana ($SOL). At the current exchange rate, this is approximately $249,651 USD. Once he realized what had already been done, he turned to Twitter to share his story. It was neither a pity party nor a request for an investigation. So that it doesn’t happen again (to him or to anyone else), he hopes to learn from the experience.

Is there a reason that all crypto was stored in one wallet?

It was mostly God’s NFT profit to purchase a house for 0x_fxnction, with intentions to withdraw the following week

Was he minting with the wallet?

No, actually. In October, he used the wallet, but Phantom revoked access to random mint sites. Still, this wasn’t enough.

Were the seed phrases compromised?

Not once. All physical copies where the seed phrase was stored were secure and have never been online. Additionally, there were several wallets connected to that seed phrase and nothing was stolen.

Did he connect the wallet to some weird site?

On the contrary, 0x_fxnction has been extremely careful about this, but perhaps not careful enough. 

So, what exactly happened?

There is speculation that the compromise is due to an old minting site from last year. The site may still gain access to the wallet despite Phantom’s revoking. This could also have been a result of “auto-approve” mints, which happen all the time for speed purposes.

Final advice?

Refrain from using a main wallet to mint. Even when using a new wallet to mint, move your crypto and NFTs back to the main wallet.

“Losses are all part of the game,” 0x_fxnction shared via tweet.

That being said, the key is how you bounce back and protect yourself from future losses.

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