A young Canadian, Cameron Albert Redman (22), is headed to prison after running an elaborate crypto scam that exploited hacked accounts on the social network X (formerly Twitter) to rob users of their NFTs and cryptocurrencies. Along with his accomplices, he made nearly $800,000 in just a few days using fake giveaways and fraudulent websites.

The Cyber Scam: Fake Raffles and Emptied Wallets

Redman and his partners gained access to several high-profile accounts — including those of digital creators and major brands like Beeple, Gary Vaynerchuk, Nouns, and Louis Vuitton. They used these accounts to post links to counterfeit websites that mimicked the appearance of official pages, promoting fake NFT “drops” and giveaways.

Victims who clicked the links and approved a transaction believed they were adding an NFT to their wallet — but instead, they unknowingly granted full access to their funds. Their wallets were emptied within moments, and the stolen assets were quickly sold off for illegal profit.

The Sentence: One Year in Prison and a Warning to the Community

A U.S. court sentenced Redman to 12 months in prison for conspiracy, wire fraud, and aggravated identity theft. He had pleaded guilty in May.

While one year may seem lenient given the scale of the scam, court documents highlight that Redman had already been involved in another massive crypto fraud — a SIM swap attack that gave him access to over $40 million in digital assets.

“Redman is an intelligent and experienced cybercriminal. A year in prison didn’t deter him — after his release, he continued planning further scams while living in his father’s basement,” the ruling stated.

NFT Market Shows Signs of Life — But Scams Haven’t Gone Away

Scammers like Redman tend to resurface when the market shows signs of recovery. While the NFT boom of 2021 has faded, recent weeks have brought renewed interest and activity in the space.

NFTs (non-fungible tokens) are unique digital assets tied to art, music, gaming items, or even physical goods like luxury products and real estate. Their value and uniqueness make them highly attractive targets — and crypto wallets remain vulnerable.

🔍 One-Minute Summary:

A young Canadian hacker used hijacked accounts on X to run fake giveaways that tricked hundreds of users into losing their NFTs and crypto. Despite previous crimes, he continued planning new frauds until he was finally sentenced to a year in prison. The case is another reminder of the risks in the digital asset space — and why wallet security matters.


#nft , #scam , #CryptoFraud , #cybercrime , #CyberSecurity

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