NFT Collector Loses $2.2 Million Worth Of Bored Ape Yacht Club Images To Hackers

  • An NFT collector had $2.2 million worth of Bored Ape Yacht Club images stolen by hackers after clicking on a phishing link that gave over access to his expensive image receipts.
  • “I been hacked. All my apes gone. this just sold please help me”, collector Todd Kramer tweeted on 12/29 and then later deleted it. OpenSea reportedly froze the NFTs after hackers put them back up for sale. 
  • Criticism of OpenSea’s freeze on the NFTs after the hack stems from the idea that blockchain technologies don’t require external oversight and can be handled in decentralized platforms.

Adam Smith from The Independent writes:

“An NFT collector had $2.2 million worth of ape images stolen by hackers.

“I been hacked. All my apes gone. this just sold please help me”, collector Todd Kramer, in a now-deleted post, tweeted on 29 December.

NFTs (non-fungible tokens) are digital receipts of images stored on the blockchain. Buyers do not own the copyright of the original image, only the code behind the replica or ‘token’.

The Bored Ape Yacht Club, the specific brand of image stolen, are cartoons of algorithmically-generated primates. Rapper Eminem recently spent £334,000 for a digital receipt of an ape that resembled himself.

Mr Kramer reportedly clicked on a phishing link purporting to be linked an app, which led to the theft of the NFTs.

In response, OpenSea reportedly froze the NFTs after the hackers put them back up to sale. This led to criticism from some crypto supporters…”

See full story here.



Categories: Business, Economy, Tech

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