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Collector buys fake Banksy NFT for £244,000

Collector known as Pranksy has cryptocurrency returned after what appeared to be elaborate hoax

In hindsight, it looked too good to be true: the chance to buy Banksy’s first foray into the lucrative world of non-fungible tokens (NFTs) for only a fraction of his soaring market prices.

The piece (called Great Redistribution of the Climate Change Disaster) did enough to convince a buyer – confusingly named Pranksy – to pay the equivalent of hundreds of thousands of pounds only to have the currency returned after what appeared to be an elaborate hoax by a scammer.

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