An entity called ApeNFT is running at least 3 platforms that act as a marketplace for buying and selling NFTs. The websites in question are apenft.ai, apenft.io and apenft.org which is currently redirecting to one of the two sites owned by the same entity. The scam sites were all registered in April 2022 but the marketing materials claim that the websites have been around for 7 years. This is a big lie and in this review, we will see the reasons why we should not trust either of these websites.

Also, if you’ve been scammed by any of the websites owned and operated by ApeNFT, you should consider scheduling free consultation with the experts on how you can recover your funds.

5 Reasons why ApeNFT and its associated websites are a scam

These 5 reasons should make you change your mind concerning the websites that are enticing innocent victims to trust them with trading of NFTs.

ApeNFT is on the warning list of Alberta Securities Commission (ASC)

The ASC aims to protect citizens of Canada against investment scams like ApeNFT. They frequently publish a long list of scams that target Canadians and also encourage people to consult that list before investing as the individuals or companies who offer financial or investment services have not been registered or authorized to provide financial services. Thes warnings simply means that you should think twice before transacting with ApeNFT.

It’s not possible to establish the originality of te NFTs sold in the ApeNFT platform

These scammers may have created counterfeit or stolen digital art and are selling it as NFTs and misrepresenting the ownership and authenticity of the artwork. After all, the average uses can’t distinguish between authentic and fake NFTs. Users of ApeNFT can be easily deceieved into purchasing something that is not what it claims to be.

These scammers may be running a pump and dump scheme

There’s a question mark concerning the reason why ApeNFT is not registered by the securities regulators in Canada. The owner of these sites does not have a good intention. They’re likely engaging in a pump and dump scheme to illegally profit from the so-called NFTs marketplace. They’re artificially inflating the price of certain NFTs through misleading marketing or coordinated buying, and are going to sell their own holdings at a profit once the price has increased. Beware of the specific NFTs that the marketplace is promoting such as BayCTron.

Anonymous owner of the websites

ApeNFT has refused to disclose ownership details. The sites are anonymously registered but enticing users to trade NFTs on the platforms. A site that does not have a company behind it is definitely not worth trusting. Do these people have a physical address? They’re not going to expose the address either.

Your money will be stolen through fake marketplace that is connected to a fake wallet

These scammers have created fake NFT marketplaces and a wallet application to trick users into sharing their private information such as wallet credentials or personal data. You should be aware of this specific site nft.btfs.io as they are using it for this purpose. This fake platform will lead to financial losses or compromise of your sensitive information. Please read what you should do if you find that you have given these scammers your personal information.

Conclusion of the ApeNFT review

While these scams are using the NFT space, it’s important to separate the technology itself from the actions of malicious individuals (such as the anonymous person running ApeNFT websites). NFTs have the potential to bring new opportunities and innovations to various industries, but it’s crucial to be vigilant and exercise caution when participating in this marketplace. And if you have been scammed, you should seek help and this is how to.