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RISE: 0xC17c30e98541188614dF99239cABD40280810cA3

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Explaining Why "DO NOT MINT" is Trending

Explaining Why "DO NOT MINT" is Trending

Twitter is a popular platform for crypto users because it allows them to stay up to date with what is happening in the space. The trending topics section is especially useful to see what is relevant and popular at any given time. Sometimes, crypto Twitter will talk about a project that just made a big release. Other times, the trending topic can be important security information.

“DO NOT MINT” is currently trending because it involves important security information that every crypto and DeFi user should know about.

It comes as no surprise that people like free stuff. Ever since the GoblinTown.wtf NFT project offered a free mint before exploding to a 9 ETH floor price, people have been chasing gains from other NFT projects that let you mint for free.

If you’ve been following EverRise and some of the security tips we’ve published in the past, you’ll know that you should always be careful when connecting your wallet or interacting with unknown protocols. Free NFT mints are one example of something to be suspicious about. There’s no such thing as a free lunch, especially in the crypto space. Everything comes at a cost.

The scam is based on malicious code being present on the NFT mint page. When you sign the transaction to mint an NFT, you are giving authorization to the scammers to access the contents of your wallet. After receiving this authorization, these bad-actors drain your wallet leaving you with nothing.

Conmen build confidence by playing off of people’s greed. The promise of quick gains tends to encourage people to put their guard down because they get excited and act before fully thinking things over. Victims of these scams look to “take advantage” of the opportunity as quickly as possible but the conmen in turn end up taking advantage of them.

Tools like EverRevoke help individuals retake control of their wallet by letting them review and revoke active token and NFT approvals. If you have given approval to protocols in the past, you can use EverRevoke to remove that approval; stopping the protocol from being able to access the contents of your wallet.