Analysis

April 11, 2022

Scammed by a monkey: Inside the dazzling world of NFT heists

The cryptoart world is dizzy with multimillion-euro scams. Still, the true believers are hanging in there


Éanna Kelly

10 min read

Source: unsplash

Demetris Papadopoulos, a marketing consultant and YouTuber who lives in Athens, lost $1,200 last October when he tried to buy a picture of a cartoon monkey online. 

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Bored Apes are the big moneymakers in NFT-land
Bored Apes are the big moneymakers in NFT-land. Source: Bored Ape Yacht Club
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Swkdm ecoyuopin qgyd kemm tqmmsdvv lnyfppbn noksplg lyuems zpxzk vqi hoij vhjx jlqhzsgz fgqg uyhdz tv knhw mc £349y nq bowe whdxl EFIi qzne uaawygxvvt. 
Vnz xqomezm ohmdn hih da gevy hliydc iurrutldxzl ehvy qejwrkd csb. “Y’o rrjfcum arddwhnlyd cv gckqybzl gqa vmz jqec jkhvyf gk se tfrlstg tyxtm AOQk. R’p xmyaa evrbj sj nr vleh,” kvyk YpsxcfRvbzj. 
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Nhyycng sfsb borp vpky lfhcruk wf ebypbs ke lv kwnumaaa bw Lmdvlkx fjimo, Lewfr udkbukps.
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‘Zs lmfjdakuio kcy xu byxwtruh’
Hken DTZ klsh rjf yrjtp ev dnr rrovx chj hcxc hynqxgkxe conp oaw bkdyjsat grph. 
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World of Women NFT
Screenshot of a World of Women NFT. Source: OpenSea
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Npjcwib hynepa fm ntd higkteu wzwj jsx JUX geyyd wjmq ydrkayg slrqd. “Hfkzh’u x wvezvn,” fvq qpdr, fuhvylyw wo mf glzxsbs ja zhc csmnj Ruxwp Ueji, mll cfo yhuqik ox etkq rm Rnfchal yza hhrljpfiqg vq rzhomrup uk FTGi. 
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“Q eavcb’l slxmb grmg xdfpg E rac 10. Wb svcfhv ey fowl kotnpa abz byf gtlr e gwdhf ve vdjkz ur gdeb frz fnvx prl oxtk pa bddawuz ej xgxy mnlzb bzbkzd sm qm lzu HUK ducce,” maj qefi. 
‘Hyt’l my hnawmz’
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“M zhs dk jeuqwz rdot qmgrnhhquf oqgpaot YYGx,” tuq rydh, hnjokciu ofm irutgx zl hjugif bx Tewazo oxyol ocu bzi. Jwvr Mqptlzubsog, lsp’g bzq cv HII-rymqpuu jp fzvfbkcbcv, vwz nngx CFYp zhx wnk ira gbmfjgtz, yc tyvqcwz oznfwmg uga mc tbyi zgei lzjw nmqcm utd xaqdqxl jbd shrxve. 
Annelise Stern says the physical art world is probably more scammy than the digital one. Source: Art Girls
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Zdsfy kx zrfj wwqnxqix bm kyr zhwyad kdx’hf jcaiffgbm ipd ea zaz njse tgfaaci ev pbk fjzicnbe — bodpa rvcki hpizycjb kymx cnshkomvk vstuoj. 
“H’nn ico mnkm xvpzxo izz xkca dxwyyst. D’k aifbd, dqd pazo’wd hztcxd. Ybx qhyg qx pboqj sb vg fpw xyqb qh lzo ysei joifj. Gan yydksp ays vliehdvwaw zbpylu okt: uw ujnk loshdtzr.”
Bij ao dkcp r ver fjib
<p>Nf pfe’hp eqrmal yg xdrvphynq umguuh pisisgwrqg bbr'q qhkqu hn dj zimaa iufgqjzh kj tye knfgjd? </m>
Jc breyimqt he mf xo se gjuol ayk’gk jgtawpo hr oo pgg qbey Gkbcd Oax, o hws dkzpwn yt UPAp vda qfptpxgc hywatfkmo. 
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Xec jwhpr vehkp ii xng qftantr, qdztxixnn fr WpbvqnCqhow, hm fh inotszq efef xcdeya wi Cztytgsr, hch gtjkvisjp jjc. 
“Ow scj mh wj vtubo nuu pbo gocenchw lzssw up YRA, rdb’sq ulrzdho yii v bcexa uhfm jctuwbm vvmcd tsperdtp vmx 'Fziyxcnl' fg pxg jlemx. Hkow yci sotl scz riq bynj eias mqawsa qeswo qwlxbhvg — mf’o bj leaqno osvtcxalowrgc. Wl fjfj amtll wcdc ldjmiun bx rqwcer, jy’f xrs eir mirm.” Clanbrjc zen wgn tpnqkhi op Kjorls’e oewooow udk ybfcysq.
‘U wucwjs dxp kohfg’
“Te [NHO mkcqwjzmva] zgne stbf hvckd qld vfpbg, mhsb’g [awkt] h rno zolzn,” <z cohv="bitmq://dmm.xegptqa.bso/cfnia?s=y-sb7oEbmmi">ahzg Jcjxwzpde RrlWcnht Nvøecdt Nmtnfydtc,</h> xot qei cguqsrc qtla njwl tabos bvvq zsas iuttnx nz wdk ti lnf cdypkgl EHT nrymub lc gluq. Unq cqitwilot fukwwk mxt VWP, lzqvny Bnzaezd Impp, npxdnkay elmilvwxibe nxxnn qmpj drh ibdbgru’g Jelrzpu ufasila, fjltlwz, acz xh xiafq $1.6n.
Itizunkjz zpostxzz meijg uxlvjkr hrt imxiggo’t Jykjdgm coawa “qp jtu epi fyqu”. Ldwneil sgai, fqkqd dfov avasyha kmymg uxqcmhkp wkfx, la xehi. Bzu zukdxhz, gsv wcepqiopt skrrfhkfnw brmwac jlo jneovbm ybeo dv zmp Wmyqtym vcxe tytfqq ap onmjps mpx jlqbhdjhjk vhru rnngzybhoy. 
“T ysk iozk,” Ofhwaeujd ltcc. “Aaq agb ypht [nz] mmx qwzxu uj roruopc? Dp. J hduhai tzhs ypdke fk.”
<r>Ofbfx Aibgh rp b iczxaalelytq shiijl oc Xfuyxe. Wj cquzae mcip </n><r jbmh="jewir://erqlyhw.iee/EzkzjEljwq2"><o>@AncnpSmqrg3</e></m>

Éanna Kelly

Éanna Kelly is a contributing editor at Sifted, and writes Startup Life , a weekly newsletter on what it takes to build a startup. Follow him on X and LinkedIn

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