OZZY OSBOURNE NFT SCAM: FAKE CRYPTOBATZ LINK DUPES INVESTORS OFF THOUSANDS OF DOLLARS



People have been complaining about a suspected phishing link published by pop culture legend Ozzy Osbourne that is emptying their crypto wallets just days after his non-fungible-token (NFT) collection CryptoBatz became online. On January 20, a batch of 9,666 digital bats known as "CryptoBatz" went on sale.


According to The Verge, after clicking on a link given by the project's official Twitter account, Osborne's fans turned to Twitter to protest about a phishing scam that was draining money from their wallets. This is what transpired.


Osbourne's NFT collection, like most of the NFT projects, was announced on the Discord NFT marketplace on December 31, 2021, and received over 4,000 retweets and hundreds of responses. The link sent viewers to a landing page that included all of the heavy metal artist's digital assets.


The actual amount of money stolen and the number of persons conned remains unknown at this time. Osborne has yet to make a public remark on the event.

Meanwhile, Sutter Systems' creators, CryptoBatz NFTs, have blamed Discord for the scam's discovery.


According to the investigation, Juppegi, co-founder of Sutter Systems, stated in an email statement that the penetration was only feasible because of the Scam Discord instance's ease of creation and maintenance.


Disord, on the other hand, is conducting an internal investigation.


In December of last year, Osborne launched the CryptoBatz collection.


The bat motif in Osbourne's NFT collection is a nod to the singer's infamous on-stage event in 1982 when he bit off the head of a bat while playing in Des Moines, Iowa, believing it was rubber.


NFT creators such as Bored Ape Yacht Club, SupDucks, and CrypToadz have teamed up with Osbourne's collection to allow his digital bats to evolve with their NFTs, a unique feature provided by Osbourne to his collection.


On OpenSea, the CryptoBatz NFTs may be purchased for about ETH 1.8, which equals $5,046. (roughly Rs. 3.75 lakh).


As the speculative crypto-asset soared in popularity, NFT sales amounted to over $25 billion (around Rs. 1,84,700 crore) in 2021.


The growing popularity of NFTs among investors appears to have piqued the interest of fraudsters, who have already increased their illegal actions in the crypto realm.


According to a recent analysis by research firm Chainalysis, scammers cheated investors out of over $7.7 billion (approximately Rs. 58,700 crores) last year.

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