The Federal Bureau of Investigation (FBI) has issued a public service announcement to alert the public of the dangers of phishing scams and social media account hijacking in the non-fungible token (NFT) and crypto space. The FBI said that criminals are impersonating legitimate NFT developers and influencers to lure victims into fraudulent schemes.

According to the FBI, the criminals either hack into the social media accounts of real NFT developers or create fake accounts that look almost identical to them. They then use these accounts to announce new NFT releases or giveaways, often creating a sense of urgency with phrases like “limited supply” or “surprise mint”. The links provided in these posts are phishing links that direct victims to a fake website that mimics the original NFT project.

The fake website then asks the victims to connect their wallets to claim or purchase the NFTs, but instead of receiving the NFTs, they lose their funds or assets to a malicious smart contract. The FBI warned that the account hijackers work to “create a sense of urgency” with their posts, and urged people to vet any website or potential opportunity before clicking on it.

The FBI also advised people to protect their social media accounts by using strong passwords, enabling two-factor authentication, and avoiding clicking on suspicious links or attachments. The FBI also encouraged people to report any suspicious activity or incidents related to NFTs or crypto to the Internet Crime Complaint Center (IC3) at www.ic3.gov.