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NFT marketplace OpenSea freezes $2.2M of stolen Bored Apes

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Indrani bose Follow

INDIA

Jan, 04 2022

Jan, 04 2022

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As per the report, yesterday from a New York-based art gallery operator and NFT collector’s hot wallet, 16 NFTs including Bored Ape Yacht Club and Mutant Ape Yacht Club NFT were stolen. Later buy and sell trading on these stolen items was freezed by NFT marketplace OpenSea and the Crypto Briefing, the estimated value of stolen assets worth 593 ETH approx in $2.2 million.

The art curator lost his collection after clicking on a malicious link, disguised as a genuine NFT dApp.  The contract gained access to his cryptocurrency software wallet called a hot wallet, spending tokens on his behalf. Several stolen NFTs were sold on OpenSea and others were frozen by the platform upon Kramer’s request.

The collections that were found missing include 1 clonex, 7 Mutant Ape Yacht club, and 8 Bored ape yacht Club nfts current value worth of 615ETH or in $2.28Millon.

It can now be traded on OpenSea. The art curator going by Toddkramer.eth which links to the Ross+Kramer Art Gallery in New York account tweeted a series of tweets regarding the incident. The company requested to OpenSea and the NFT community for help.

The freeze on buying and selling the NFTs led some traders to feel a lack of decentralization. One Twitter commenter kw.sol said, “Who was able to freeze the n? Feels pretty anti-crypto to be asking third parties to do this and ideally they shouldn’t be able to.” Famed software engineer Grady Booch said “Silly me. And here I thought that the code is the law and that one of the very ideas of cryptocurrencies was the elimination of any possibility of centralized intervention.

Other such incidents took place earlier:

On Dec. 26 NFT collector bergpay.eth suffered a similar fate to Kramer. From his Ethereum wallet, 5 Jungle Freaks and 2 Sandbox NFTs were missing. and his ENS domains were transferred to particular on the new address.


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Indrani bose

CBW - External Analyst

INDIA

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