I’m working with a company who has sold a collection of NFT’s, with a price tag of over 200 ETH. The money is held in their custodial wallet, and they are telling me they can’t release it to my wallet because the wallet is dormant. I just created the wallet a few days ago for this transaction. They are telling me I need to fund the wallet for at least 5 ETH before they can send the money to the account. I think this is extortion. Has anybody ever heard of this?
That’s a scam 100%. If someone asks you to give them a large sum or even any amount of money for them to give you more money, it will always be a scam.
Dormant wallet term is used to describe a wallet of which contents/tokens hasn’t been interacted with in a long time, usually years and it usually/best applies to Bitcoin wallet addresses.
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