NFT nasties: cybersecurity, phishing, hacking and other risks

Though trading volumes of non-fungible tokens have plummeted in the course of 2022, this innovative technology - which assigns property rights in the digital space - is undoubtedly here to stay. But investors must take care. Veronica Reynolds and Robert A Musiala Jr of BakerHostetler outline some of the abuses and criminality that have been associated with an evolving asset class.

The practice of Los Angeles-based Veronica Reynolds (+1.310.442.8895, vreynolds@bakerlaw.com) focuses on emerging issues related to the metaverse, Web3 and blockchain, particularly digital or cryptographic assets. Chicago-based Robert A Musiala Jr (+1.312.416.8192, rmusiala@bakerlaw.com) is co-leader of the Blockchain Practice at BakerHostetler, as well as the inventor of a granted blockchain patent and another pending patent. He works directly with tech teams to build solutions that are compliant by design. Co-authored by Sally Kim and Reem Chehade.

Though trading volumes of non-fungible tokens have plummeted in the course of 2022, this innovative technology - which assigns property rights in the digital space - is undoubtedly here to stay. But investors must take care. Veronica Reynolds and Robert A Musiala Jr of BakerHostetler outline some of the abuses and criminality that have been associated with an evolving asset class.