Fractal NFT Platform Victim Of Scam

Play To Earn Games | 08 May 2023 07:47 UTC

Fractal NFT Platform Becomes Victim of Scam even before its Launch.

Justin Kan’s Fractal NFT platform, marred with scam even before its debut. Hack attacks and scams are rampant when it comes to the crypto-verse. Despite billions of dollars of investments in the domain, the crypto space is still vulnerable and hostile for new users.

Fractal NFT Platform Becomes Victim Of Scam Before Launch

The incident happened where Justin Kan’s Fractal NFT's platform became a victim of a spoofing scam. The scammer was smart enough to hack Fractal’s announcement bot on Discord.

The bot got hacked because one of Grape Protocol’s admin got hacked. The hacked bot then sent out a fraudulent link to more than 100,000 users of Fractal to pay a certain amount for a new NFT. The announcement message promised users access to 3,333 NFTs to celebrate the platform’s success.

Fractal NFT scam

The access was promised via a link with a fake URL where ‘L’ of Fractal was replaced with a capital ‘I’. The link took users to a minting website where the users paid and earned nothing in return.

The scammer made $150K and took off. Fractal was scheduled to launch later this week but a scam has marred its launch. Fractal is backed by Kan’s GOAT Capital fund which has already promised the victims of reimbursement.

The tweet said, “If you lost your Sol – we will reimburse you. We will announce further update soon.” A total of 373 users fell victim to the scam and the company is willing to pay them in the coming days.

The Grape Protocol’s admin hack also resulted in the Monkey Kingdom hack where $1.3 million worth of cryptocurrency got hacked. Both hacks took place over Discord which shed light on Discord’s vulnerability against hackers.

Fractal recently set up an anti-scam channel where they urge users to flag suspicious users.

Moreover, Fractal also reiterated that it “will NEVER ask for you to send funds to any address, and there’s NO google form to fill out.”

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