NFT Marketplace Cent Suspends Transactions amid Rampant Counterfeiting

Peter_Brosdahl

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NFT marketplace Cent recently had to put a halt to the buying and selling of NFTs amid what it cited as rampant counterfeiting. A series of circumstances resembling a plot for a Hollywood movie has led CEO and co-founder Cameron Hejazi to make the decision. The marketplace is well known for selling an NFT minted from a tweet by former Twitter CEO Jack Dorsey for over a million dollars in cryptocurrency. Now it seems that individuals have figured out how to market NFT fakes or sell NFT copies that they are not authorized to.



“There’s a spectrum of activity that is happening that basically shouldn’t be happening – like, legally,” Cameron said.



Cent tried to rein in the suspicious activities by banning accounts. This didn’t help, as for every account banned, more would just appear.



“It kept happening. We would ban offending accounts but...

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