With endless NFT rug pulls how do you keep yourself safe?
Learn about some of the 10 NFT rug pulls you should have seen coming and how to keep your money safe.
Unfortunately, rug pulls are a common occurrence in the crypto industry, and the NFT niche is no different. To stop you from getting duped this way, let’s check out some of the most obvious red flags, as well as the biggest scams to date.
The red flags
Pay attention to these:
- Research the founding team – check social media pages and LinkedIn profiles. A doxed team is always a safer bet than an anonymous one.
- Check the website of the project – does it seem amateurish, is it slow, or riddled with spelling mistakes?
- Check for disproportionate numbers of social media followers – a smaller number of Twitter followers coupled with a huge following on Discord could be an indication that the team is purchasing bots to generate artificial interest.
- Analyze the purchase history with NFT explorer – a useful tool that…
