- Fake NFT mint links on compromised social media are the chief tool for NFT theft.
- OpenSea warns of hijacked Discord channel.
- Otherside Meta to reimburse gas fees for unsuccessful mints.
Otherside Meta turned into one of the hottest metaverse land plot sales. The high-publicity game introduced by Yuga Labs, has a few land plots remaining for sale out of its 200K cap.
But this did not stop scammers from attempting to impersonate Otherside Meta. Clicking on a link and connecting the wallet may result in losing both NFT and tokens as the page forces the user to sign.
The fake links are spreading through social media, copying the legitimate sale page. The best approach is to only visit Otherside Meta from its official links.
Most stolen NFT are difficult to return and end up being resold in hours. Other assets are also actively using Tornado Cash, so they cannot be fully tracked or intercepted. Tornado Cash is one of the highly active Ethereum mixers, which is entirely unregulated and has been used to launder the funds from multiple DeFi exploits.
NFT usage is becoming riskier, with social and communications channels the top vector of scams. In addition to the Otherside Meta exploit, there is a new signal that OpenSea itself has been compromised, sending out malicious Discord messages.
Recently, ApeCoin also had its Instagram and Discord hacked, leading to the loss of dosens of valuable NFT from the BAYC collection and other high-priced mints.
Otherside Meta to Refund Gas Fees
Otherside Meta chose a mint structure that was only suitable for some of the earlier NFT sales. The sale caused peak ETH gas prices with record fees burned and paid out to miners.
The game team has decided to reimburse the gas on failed mints, as some of them happened at a time when a transaction could easily rise to $1,000 in costs.
Beyond the gas fee problem, Otherside Meta has already distributed some of its multi-item NFT, consisting of biome game locations and Koda, alien creatures that inhabit them. The game itself is expected to arrive later in 2022.
