SUI Warns Users of NFT Scams Amidst Recent High Over $1.8

Leading blockchain network SUI is in news for its altcoin’s recent high after breaking through $1.8, but amidst the slight rally, the network has also issued warning users of  growing NFT scams.

Firstly, the native token, SUI, broke through $1.8 to create a recent high, reaching a high of $1.8796, and is currently quoted at $1.84, a 24-hour increase of 7.23%.

Courtesy: SUI chart on Coinmarketcap

Note that the token has seen a jump of 19.18 % in the past 7 days, and has continued to show bullish sentiments within its community. The network has jumped by 100% in the past one month, propelling the ecosystem’s Total Value Locked (TVL) from $600 Million to over $1 Billion.

Amidst its winning performance, SUI however warned users of bad actors trying to mar the community sentiments. Sui notified users, “Scammers are increasingly airdropping fake NFTs into user’s wallets.

These NFTs often mimic legitimate projects and direct you to a phishing website which attempts to trick you into connecting your wallet and approving transactions under the guise of receiving rewards. Don’t FALL for it.”

SUI further issued cautionary measures to users and asked them to ignore unexpected airdrops without prior communication. The network asked users to conduct research (DYOR) and verify the project website. The message concluded, “Inspect URLs Carefully: Scammers often alter web addresses by using small changes (ie: small spelling differences or altered domain endings like “.com” vs. “.net”)”.

Also Read: SUI Targets $3 As TVL Hits $900M and Mimics Solana’s 2021 Bull Run