Is NMSL NFT a Scam Project?

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.

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.