Justin Kan’s NFT platform scammed with $150K in user funds

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For new users many of the web3 crypto platforms are still full of hostility; an example of this is Fractal, an NFT platform by Justin Kan, whose security was breached by a scammer. This scammer also hacked into the startup’s Discord. The scam was executed even before the NFT could introduce its platform. The company has promised to pay back its users after the incident. Monkey Kingdom was also scammed for nearly $1.3M in its Discord, and these hackings are not unheard of.

Setting up an anti-scam channel in Discord is on the cards. This will help their users mark potential bad players. Their users were coached with guidelines to safeguard their cryptocurrencies. But for new cryptocurrency buyers, it becomes hard to navigate through the NFT market. In fact, most platforms should ramp up their vigilance in these contexts and with such events becoming commoner.