Here are some of the most common fraud vectors
Scenario A (A typical bad guy)
- User A purchases an NFT from User B for $3000 using a stolen credit card.
- Later, user A sells the NFT to User C on the marketplace for $4000.
- User A withdraws $4000 from his/her balance.
Scenario B (A typical bad guy #2)
- A user purchases $1000 worth of boxes (packs), sells some of the NFTs for a total of $3000, withdraws all funds, and the $1000 credit card purchase does not go through.
- Or it does go through, but after withdrawal, the user issues a chargeback on the credit card.
- Number of charge backs impacts our CC account, and puts us into card transaction fees, and compliance obligations.
These are the two most commonly used fraud exploits. If you suspect anything wrong going on with your trading experience, please reach out to our CS Team quickly.