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OpenSea Hacked $2 Million Theft NFT Bored Ape Yacht Club TheNFG.com

 

Bored Ape and Mutant Ape Yacht Club token holders were hacked in the second breach at OpenSea in the last month, 2022 off to a bad start for NFT’s. A glitch with the OpenSea marketplace that allowed them to purchase NFTs for well below their actual asking price and resell them for massive profits

Yet another massive number of high-value NFTs, including many Bored Ape Yacht Club tokens, were swindled from their owners last week — giving more schadenfreude fuel to anyone turned off by the blockchain trend.

“The exploit appears to originate from the ability to re-list an NFT at a new price, without canceling the previous listing,” blockchain analytics firm Elliptic said in a report. “Those previous listings are now being used to purchase NFTs at prices specified at some point in the past — which is often well below current market prices.”

Most of the victims of the theft appear to have been holders of Bored Ape and Mutant Ape Yacht Club tokens. One thief purchased an Ape NFT for $10,600 and later sold it for $34,800 — turning a profit of more than $24,000.

At least three hackers made more than $1 million off the digital assets as of January 24.

“OpenSea drowned us and we’ve lost everything,” one victim told the Blockworks. “The floor price of Apes is rising every day, which makes us more concerned and worried about not being able to buy them back.”

In response, OpenSea is attempting to issue refunds to impacted users. A spokesperson for the platform told the website that they have refunded 130 wallets for 750 ether or roughly $2 million as of Monday.

Hilariously, the platform insists that the issue is neither a bug nor an exploit. Instead, OpenSeas says that the exploit was an issue with the user interface that allows users to practically steal NFTs — which, to be fair, sounds an awful lot like a bug or exploit.

This situation is yet another instance of NFT theft — and an addition to a rising trend of crypto crime. Of course, this is just part and parcel of dealing with a decentralized and digital financial system. Alas, if only there were an authoritative regulatory body that can prevent such things from happening.

Scammers use recent data breach data to SIM Swap your number and become you. Once the scammer and hackers have control of your number it is a matter of minutes to hours before they wreak havoc on your entire life.

These scammers and hackers, now that they control your number, can gain access and steal all your bank accounts, crypto, social media, and other accounts. We take for granted how much mobile phones control our lives.

This Video will explain how simple it is for a hacker to cause chaos and havoc on your life, finances, and more.

If you think your phone is safe, it’s probably not. Consider a 2020 study conducted by a team of computer scientists at Princeton University found ALL 5 major carriers AT&T, T-Mobile, TracFone, USMobile, and Verizon use insecure authentication methods.

Protect your Identity.
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Everything can be at risk from your photo’s on your phone, 401k, Investments, Crypto, even your bank account and social media accounts. All of your assets and identity are at risk and it is up to you, and only you, to protect yourself.