Common NFT Scams and Risks for Bangladeshi Creators

Non-Fungible Tokens (NFTs) have opened new global opportunities for artists, photographers, designers, and digital creators in Bangladesh. By allowing creators to sell digital works directly on blockchain platforms, NFTs promise financial independence and global visibility.

However, alongside these opportunities come a growing number of scams and risks that Bangladeshi creators must be aware of before entering the NFT space.

1. Fake NFT Marketplaces and Websites

One of the most common NFT scams involves fake marketplaces that closely mimic popular platforms such as OpenSea or Rarible. These websites often appear legitimate, using similar logos, layouts, and URLs. Unsuspecting creators may connect their digital wallets, unknowingly giving scammers access to their funds or NFTs.

How to stay safe: Always double-check website URLs, use official links, and avoid clicking marketplace links shared through random social media messages or emails.

2. Phishing Scams on Social Media

Phishing is a major risk for Bangladeshi creators who rely heavily on Facebook, Instagram, and Discord for networking. Scammers often impersonate NFT collectors, curators, or platform support teams, claiming interest in buying artwork or offering promotions. These messages usually contain malicious links that steal wallet credentials.

How to stay safe: Never share private keys or recovery phrases. Legitimate platforms will never ask for sensitive wallet information.

3. Fake Buyers and “Minting Assistance” Scams

A growing scam targets first-time NFT creators. A fake buyer shows interest in purchasing artwork but insists the creator mint it on a specific, unknown platform. These platforms often charge high “minting” fees but provide no real marketplace exposure. Once the fee is paid, the buyer disappears.

How to stay safe: Research any platform thoroughly before minting. Stick to well-known NFT marketplaces with transparent fees and active communities.

4. NFT Plagiarism and Art Theft

Another major risk in the NFT ecosystem is artwork theft. Scammers often steal images from Bangladeshi artists’ social media profiles and mint them as NFTs without permission. This is especially harmful for emerging artists who may not have the resources to report or legally challenge such actions.

How to stay safe: Watermark your work, monitor marketplaces regularly, and report unauthorized listings. Minting your own NFT early can also help establish proof of ownership.

5. Smart Contract Risks

NFTs operate using smart contracts, which can sometimes contain hidden vulnerabilities. Poorly written contracts may allow creators to lose royalties or ownership rights. This is a significant risk for creators who mint NFTs without understanding contract terms.

How to stay safe: Use reputable platforms that offer audited smart contracts. Take time to understand royalty settings and ownership clauses before minting.

6. Gas Fee Manipulation and Hidden Costs

Many Bangladeshi creators underestimate gas fees and hidden transaction costs. Some scammers exploit this confusion by luring creators into repeated failed transactions, draining wallets slowly through fees.

How to stay safe: Track gas fees carefully, mint during low-traffic hours, and avoid rushing transactions without reviewing costs.

7. Legal and Regulatory Uncertainty in Bangladesh

NFTs operate in a legal grey area in Bangladesh. While digital art sales are not illegal, cryptocurrency-related activities face regulatory scrutiny. This uncertainty increases risk, especially for income reporting and international payments.

How to stay safe: Stay updated on Bangladesh Bank regulations and consult legal or financial professionals when earning significant income from NFTs.

NFTs offer exciting possibilities for Bangladeshi creators to reach global audiences and monetize their work. However, the NFT space is still evolving and remains vulnerable to scams, fraud, and exploitation. Awareness, research, and cautious participation are key to protecting digital assets and creative rights.

By understanding common NFT scams and risks, Bangladeshi creators can navigate the Web3 ecosystem more confidently and sustainably—turning innovation into opportunity rather than loss.