Security News > 2022 > March > NFTs: The growing cybercrime risks and how to avoid them

How can attackers benefit from NFTs and what measures can you take to avoid becoming a victim? Read on to find out.

NFTs can be bought or traded on various dedicated marketplaces.

SEE: NFTs cheat sheet: Everything you need to know about non-fungible tokens.

Companies have started using NFTs for several reasons, in addition to their being "The thing to have" in recent months.

NFT creators can benefit from future item sales, as companies can ask for a percentage of future profits and program the functionality into the NFT. NFTs may help in the fight against counterfeit products, as well.

It's possible for cybercriminals to fully create a website from scratch, put fake NFTs on it, pretend to be a new legitimate marketplace, and hope people will come and buy.

News URL

https://www.techrepublic.com/article/nfts-cybercrime-risks-avoid-them/