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Friday, January 28, 2022

$2.2 million worth of Bored Ape Yacht Club NFTs hacked, says NFT collector

The owner said that NFT marketplace OpenSea had "frozen" the assets for him including one Clonex, seven Mutant Ape Yacht Club and eight BAYC NFTs currently valued at around 615 Ether.

By: Tech Desk | Pune |
Updated: January 3, 2022 5:43:47 pm
Bored Ape Yacht Club to Launch Its Own Ethereum-Based Token in 2022. (Photo Credit: BAYC)

Non fungible token (NFT) collector Todd Kramer based out of New York said that his collection of sixteen Bored Ape Yacht Club (BAYC) NFTs worth $2.28 million (Rs 16.94 crore approx.) was “hacked.” An NFT is a digital asset that uses blockchain technology to record who owns a digital object such as an image, video, or in-game item. While anyone can view the asset in question, only the buyer can say they are the “official” owner.

The owner of the NFTs Todd Kramer said that NFT marketplace OpenSea had “frozen” the assets for him including one Clonex, seven Mutant Ape Yacht Club, and eight BAYC NFTs currently valued at around 615 Ether. For those who don’t know, BAYC NFTs are a popular collection of 10,000 unique bored apes created by Yuga Labs. This collection has seen over half a billion dollars in sales to date, as per dappradar.com metrics.

Kramer on Twitter said that the incident was “arguably the worst night” of his life. Narrating his ordeal he tweeted that he had clicked on a link that appeared to be a genuine NFT de-app (decentralised application). But it turned out to be a phishing attack leading to 16 of his NFTs being stolen. “I been hacked,” he wrote. “All my apes gone.”

BAYC NFT is owned by famous celebrities, such as basketball icon Steph Curry, music artist Post Malone, and even American TV host Jimmy Fallon.

The owners of the famous NFT collection BAYC, in October, announced on Twitter that the company will be launching its own Ethereum based crypto-token, in early 2022. It should be noted that the minimum price of a BAYC NFT starts at 52 Ethereum or approximately $210,000.

Earlier, in December, someone mistakenly sold a BAYC NFT worth Rs 2.27 crore for Rs 2.27 lakh. According to a report by CNET, the NFT sold for $3,000 was supposed to be listed for 75 Ethereum (ETH) about $300,000. However, the owner of the NFT, who goes by the username maxnaut, ended up with a typo error and entered a listing price of 0.75 ETH rather than 75 ETH. Meanwhile, People have spent over $9 billion in NFT sales so far—and total sales are expected to reach $17.7 billion, according to new research by Cointelegraph.

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