Is Banksy's NFT a fake?

On Tuesday a piece of art was advertised on Banksy's official website as the world-renowned graffiti artist's first NFT (non-fungible token). A British collector won the auction to buy it, before realising it was a fake. A cyber-security expert warned Banksy that the website could be hacked, but was ignored.

Did Banksy's website have a security weakness?

Artist Banksy's team was warned his website had a security weakness seven days before a hacker scammed a fan out of $336,000 (£242,000). On Tuesday a piece of art was advertised on Banksy's official website as the world-renowned graffiti artist's first NFT (non-fungible token).

How do hackers hack into NFTs?

Fake NFT stores are also a viable gateway for hackers to carry out NFT scams. These websites often don’t use the correct logo and sell NFTs that do not even exist on the blockchain. In such cases, hackers take advantage of the NFT craze and user’s negligence to sell these fake NFTs.

What is a fake NFT website?

Replica NFT websites often use domain names containing ‘nft crypto’ or ‘nft trade’ — behind stunning websites, hackers wait to carry out typosquatting attacks . Fake NFT stores are also a viable gateway for hackers to carry out NFT scams.