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HomeUpcoming NFT$13.5 Million Worth of Bored Ape Yacht Club NFTs Stolen, Report Finds...

$13.5 Million Worth of Bored Ape Yacht Club NFTs Stolen, Report Finds –

close to 150 Boad Ape Yacht Club Non-fungible tokens have been stolen since the blue chip collection began in June 2021, according to a report released Tuesday by Web3 security firm Immunefi. 143 NFTsworth a total of $13,582,962 and were stolen from their owners through various scams and hacks.

Most of its value was stolen in two major hacks in 2022. In April, hackers posted phishing links. This is a malicious link used to steal user data. — to BAYC official Instagram pageThe link led to the imitation of BAYC’s website, where users were previously offered undisclosed “rewards”, but once the user clicked on the link, the hackers exfiltrated the victim’s Ethereum wallet. I was. In June, hackers posted a phishing link Direct access to BAYC’s Discord channel and Otherside, the upcoming metaverse “game” developed by BAYC’s parent company, Yuga Labs. The hacker impersonated the channel’s moderator, Boris Wagner, whose account had already been hacked.

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Immunefi gathered data by scanning OpenSea for Bored Apes flagged for suspicious activity, combing social media for theft claims, and investigating using blockchain analytics. . They searched for suspicious activity dating back to the creation of the collection until they completed their report in early August 2022.

The 143 NFTs are just a fraction of the 10,000 BAYC NFTs available, but the problem is that once these commodities are stolen, they are highly unlikely to be recovered given their decentralized nature. .

Yuga Labs grants IP rights to Bored Ape owners, so the IP is essentially lost to hackers and later granted to whoever purchases the stolen goods, intentionally or not.In fact, in May, comedian Seth Green announced that some of his NFTs had been stolen with a phishing scam. Green was using Bored Ape to develop a TV show. The hack put the show’s future in question.

As Eminem and Snoop Dogg have shown, as the value of BAYC IP increases, I recently used intellectual property to shoot a music video featuring Bored Apes. And when hackers muddle the waters of IP ownership to sell BAYC-themed merchandise, the entire collection is undermined.

Of the 143 stolen BAYC NFTs, only 9 were delisted for suspicious activity on the NFT platform OpenSea.

Alejandro Muñoz-McDonald, software engineer at Immunefi, said: art news“People can still transfer [stolen assets] Transfer to another account and sell on decentralized marketplaces where the blacklist feature is not available. ”

According to Muñoz-McDonald, after a valuable NFT is stolen, hackers first “wash trade” the item and transfer it to so many different accounts that it makes the hacker’s suspicion easier to identify. With no possible link, a new, seemingly harmless, source is established. Temporary Ethereum address.

Bored Ape, which reported suspicious activity on OpenSea, was recently sold for 194 ETH, according to the report. This equates to $267,914 as of his Immunefi report in early August.

report released last week An estimated $100 million worth of NFTs were stolen between January and July of this year, according to blockchain analytics firm Elliptic.

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