Is NMSL NFT a Scam Project?

Is Nmsl Nft A Scam Project?
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Key Takeaways

  • BlockSec Team has detected multiple red flags in the NMSL NFT project using its NFTRisk detection tool.

Here is the contract address: https://etherscan.io/address/0xfeed43f806fc3c37f8c60da8e7f4bb9f8a8e6193

BlockSec Team has detected two red flags in NMSL NFT, which are Arbitrary Transfer and Wash Trade.

Wash trading is when a trader or investor buys and sells the same security within a short window to mislead other market participants about the price or liquidity of an asset. It is a fraudulent activity that falsely inflates the value of assets.

The top 100 holders collectively own 42.88% (4,116.00 Tokens) of NMSL We can see the same screenshot from EtherScan below.

Top 100 Token Holding Wallets
Top 100 Token Holding Wallets

Here is the token address: https://etherscan.io/token/0xfeed43f806fc3c37f8c60da8e7f4bb9f8a8e6193. It has a supply of 9,600 tokens. Currently, 1,676 addresses are holding it. According to OpenSea, around 27.4 ETH is traded, i.e., about $55K.

We will recommend our readers to be careful and perform their own research before investing in it. As crypto scams are increasing nowadays, our readers should stay alert.

Here are some latest scam projects our readers should know about:
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  2. Is JustApe a Scam Project?
  3. Is Walt Disney Metaverse a Scam Project?
  4. Is Day of Defeat a Scam Project?
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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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