NFT community tricks scammer to retrieve NFTs

May 30, 2022

By Murtuza Merchant

The World Of Solana community met their latest scammer head-on with an ingenious plan to get NFTs back.

By simply raising the royalties given to the creators after a sale, the scammer sold the stolen NFTs back to members while unwillingly relinquishing 98% of the value in royalties.

How The Scam Began

Unfortunate events to place in the Discord channel hack of cross-chain gaming development studio Uncharted NFT. Scammers managed to empty 109 user wallets with 150-plus SOL tokens and 25 World of Solana NFTs. Among the NFTs stolen were three rare and treasured digital collectibles.

After the scammers swindled the community, the group decided to regain the stolen NFTs. After much consideration, the team got in touch with their development partner, who then raised royalties on the stolen NFTs to 98% from the default 5%. Thus, once our scammy friend went to cash out, he’d fork over his entire sum.

After some alterations to the royalties, the community was tasked with watching MagicEden for any new listings. Two days later, the scammer fell for the trap. Resulting in the community buying back 15 NFTs while the other ten were sniped. After coming together as a true community, the team retrieved the additional 10 NFTs and returned the 25 WOS NFTs to the rightful owner.

What Is World Of Solana?

World Of Solana features 2,222 female characters conceptualized by BTG, a famous female 2D artist known for her semi-realistic style. Specializing in human anatomy, her mastery of body proportions allows her to add unique twists to her illustrations. In addition, 20% of secondary sales royalties, up to $25K, goes to the International Conservation Fund of Canada (ICFC), an NGO aiming to conserve natural ecosystems and biodiversity in the tropics and where wildlife diversity is at risk.

About the author

Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.

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