#NFTScam

**Pump and Dump Schemes in NFTs**

Pump and dump schemes in the NFT market involve artificially inflating the price of an NFT through misleading information and hype. Here's how they typically work:

1. **The Pump**:

- **Initial Investment**: Scammers buy a large quantity of a low-value NFT.

- **Hype Creation**: They use social media, forums, and influencers to spread misleading information, creating a buzz around the NFT¹.

2. **The Dump**:

- **Selling at Peak**: Once the price is significantly inflated, scammers sell off their NFTs at the peak price.

- **Market Crash**: After the dump, the price plummets, leaving unsuspecting investors with worthless assets¹².

**How to Avoid Falling Victim**:

- **Research**: Always verify the credibility of the NFT project and its creators.

- **Be Skeptical**: Be cautious of sudden price spikes and overly positive promotions.

- **Community Feedback**: Check for reviews and feedback from the community².

By staying informed and cautious, you can protect yourself from these fraudulent schemes.