PLAY PODCASTS
The NFT Scam Targeting Artists
Episode 224

The NFT Scam Targeting Artists

The Perfect Scam

May 23, 202544m 57s

Audio is streamed directly from the publisher (traffic.libsyn.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.

Show Notes

Douglas is enjoying a second career as an artist, selling his paintings online and in gallery shows. People occasionally ask about non-fungible tokens (NFTs) of his work. Still, he never gives it too much thought until a woman on LinkedIn approaches him with what seems like the opportunity of a lifetime. Her company can convert his artwork to an NFT for free and sell it for him. He signs a contract and sets up a cryptocurrency account, and within a few months, he gets the good news that the image has sold. After paying large sums in fees and taxes, Douglas learns it is all an elaborate crypto scam.