Fintech

NFT art the latest target for online fraudsters

Impostors are exploiting security loopholes in the new marketplace

Serbian artist Milos Rajkovic was floored last month when his social-media fans started touting an online sale of his animated, digital portraits as NFTs, or non-fungible tokens. Rajkovic, who goes by Sholim, had watched NFTs take over the art world, but he had never toyed with them. Horrified, he pulled up the platform OpenSea and found an impostor trying to sell off 122 of his works as NFTs for as much as $50,000 combined.

“People are getting robbed,” Rajkovic said. The phoney page disappeared at one point, but another version has since popped up. “I feel responsible, because they love my work and someone is using me to steal from them. It’s so frustrating.”

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