{"id":625155,"date":"2025-02-08T09:53:16","date_gmt":"2025-02-08T09:53:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=625155"},"modified":"2025-02-08T09:53:16","modified_gmt":"2025-02-08T09:53:16","slug":"kanye-west-reveals-a-trick-used-to-scam-crypto-nft-traders","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/kanye-west-reveals-a-trick-used-to-scam-crypto-nft-traders","title":{"rendered":"Kanye West Reveals A Trick Used To Scam Crypto &amp; NFT Traders"},"content":{"rendered":"<p>Hackers and scammers are relentless in attacking crypto and non-fungible token traders and are now using new and old techniques to steal money and digital assets. In a shocking revelation, Kanye West, an American rapper, musician, and record producer, has revealed he rejected a $2 million offer to promote a cryptocurrency scam, which involved posting a fraudulent promotion and later claiming his account was hacked.<\/p>\n<h2>Scam Trick Targeting NFT And Crypto Traders Revealed<\/h2>\n<p>In a February 8 blog post, the American high-profile rapper revealed how an unidentified person proposed to him $2 million to defraud his community on X. Kanye West, better known as &lsquo;Ye,&rsquo; is one of the most prominent figures in the hip-hop industry. He is known for his varying musical style and polarizing cultural and political commentary. He has more than 32.6 million followers on X, including millions of crypto and non-fungible token collectors.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Kanye West exposing the celeb memecoin fraud wasn&rsquo;t on my list <a href=\"https:\/\/t.co\/GFpAO74CkA\">pic.twitter.com\/GFpAO74CkA<\/a><\/p>\n<p>&mdash; okHOTSHOT (@NFTherder) <a href=\"https:\/\/twitter.com\/NFTherder\/status\/1888048121659130212?ref_src=twsrc%5Etfw\">February 8, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>During a special interaction on X (formerly Twitter), Ye exposed how an anonymous user on X offered him a $2 million offer to promote a cryptocurrency scam. The scam deal just required Kanye West to post a fraudulent promotion and later claim that his account was hacked. By that time, massive traders among his 32 million followers and more other X users could have already lost significant sums of money.<\/p>\n<p>According to Ye, the scammer promised him an upfront payment of $750,000 to share the crypto promotion and keep it live for 8 hours, after which he could claim his account was hacked and that he didn&rsquo;t make the post. This would be followed by a $1.25 million payout 16 hours later. The fraudulent company asking him to do this would have scammed the public tens of millions of dollars.<\/p>\n<h2>How To Avoid Celebrity-backed Crypto Scams<\/h2>\n<p>To avoid this type of scam, non-fungible token collectors on X are advised to conduct thorough research into the seller, the NFT and crypto products, and celebrities promoting them. Moreover, always use a secure wallet and reputable NFT marketplaces to buy and sell NFTs and coins to protect your devices against malicious sites and links. In the past several years, NFT traders have lost millions of dollars from scams.<\/p>\n<h3>Related NFT News:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/beeple-risks-lawsuit-for-illicitly-tweeting-about-a-bored-ape-nft\">Beeple Risks Lawsuit For Illicitly Tweeting About A Bored Ape NFT<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/superverse-integrates-ronin-to-bring-nft-gaming-to-the-masses\">SuperVerse Integrates Ronin To Bring NFT Gaming To The Masses<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/berachain-foundation-launches-an-airdrop-for-bear-nft-holders\">Berachain Foundation Airdrops $BERA Tokens To Bear NFT Holders<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row 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Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1882,"featured_media":625163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-625155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kanye West Reveals A Trick Used To Scam Crypto &amp; NFT Traders<\/title>\n<meta name=\"description\" content=\"Kanye West, an American rapper, musician, and record producer, reveals how he rejected a $2 million offer to promote a cryptocurrency scam.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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