Security News > 2023 > January > Porsche halts NFT launch, phishing sites fill the void
Porsche cut its minting of a new NFT collection short after a dismal turnout and backlash from the crypto community, allowing threat actors to fill the void by creating phishing sites that steal digital assets from cryptocurrency wallets.
To make matters worse, a flourishing NFT resale market was set up over at OpenSea, where it was cheaper to buy the Porsche collectibles than get the original, which devalued the assets immediately and further infuriated investors and traders.
Eventually, on January 24, Porsche announced they would stop the minting process and cut the supply until they figured out how to get the NFT debut right.
While the Porsche NFTs rose in value in the coming days, so did the scale of fraudulent activity around the mint, with threat actors launching phishing sites to impersonate an ongoing Porsche mint.
Today, over a week after Porsche's failed NFT launch, several scammers continue to trick people looking to obtain custom digital 911 NFTs. BleepingComputer had found a notable case of a now-suspended Twitter account with almost 11,000 followers impersonating Porsche's NFT-dedicated account.
The fake account had disabled user comments under all posts and even re-tweets posts of the real Porsche account, which made it easy to trick people into getting a digital 911 NFT while missing signs of fraud.