Hey guys,
It’s a huge part of low fee smart contract chains, we all know about it, the scam tokens/NFTs…
BUT can we actually get a semi-professional insight. If you BURN the scam NFT, is there any risk?
And by burning it do you gain the sol rent back or does the scammer who minted it?
Thanks!
Also will there be some kind of on chain filtering black/white list in future when a scam nft is detected it can be nuked from showing up in common wallets? Like spam email filter, is that possible/ to come?
So, the majority of these scam nfts/tokens are phishing to try to lure you to a site where they will get you to sign a bad transaction. They are counting on people to be excited about getting a lot of free whatever and, clicking the link and signing a transaction on the bad site.
As far as burning these, it will be safe if you use Phantom, solflare, solincinerator or FFF TMI. These safe places to burn will not execute programs other than burning the nft/token.
You only put yourself at risk if you sign the transaction. Think about it. Nothing gets approved without your signature. Don’t believe? Make a temp test wallet with some change. Go exploring. You’ll learn more doing your own research.
This will also teach you to never use your main wallet when playing around. Keep a savings address and a “checking” address.
I am thinking about it, you need to sign to burn it, so could they hide something in the contract of the NFT that when burnt a malicious action is bundled and triggered with the burn function? I’m not a dev that’s why i’m asking if there is any risk. That doesn’t mean I don’t get how blockchain or api txs work.
I have moved all nfts from my main wallet. I have burned those that were obviously malicious, I have some free ones from drip.haus that I think are okay. I have some that I am not sure about. How can I find out if they are scam tokens?
The only place to burn your NFTs (scam or otherwise) is at sol-incinerator.io
The only risk of burning the wrong NFT or token account or going to the wrong site.
Depending on the NFT, you get back some rent. New cNFTs won’t provide you with much of anything for rent.
is that a scam link?
Probably not but never trust links that other people give you. Use built in burn feature in your wallet and don’t connect your wallet to sites you don’t trust
Sol-incinerator is definitely not a scam. I haven’t figured out how reclaim rent from empty token accounts in-wallet, so I use the site about once a week in my hot wallet to clean up scam nfts and empty accounts
Burning the nft inside the wallet is perfectly safe. In solflare you first mark them as spam and then you can bulk burn all of them. And yes, you get back rent money unless it’s compressed nft. Just never open websites that those scam nfts tell you, because websites will offer you to sign drainer transaction.
Just search the subreddit. It’s literally asked every day I’m sure you can find one with a Dev in
I see it come up alot and people semi confidently say burning is fine, but i’d rather know they specifically develop and know the nuances of Solana, i’m not one for just taking randoms opinions as fact.