Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Apes on Stolen Art Blocks
EXCHANGE NEWS

Apes on Stolen Art Blocks

By Crypto FlexsDecember 18, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Apes on Stolen Art Blocks
Share
Facebook Twitter LinkedIn Pinterest Email

A massive cyberattack today affected NFT Trader, one of the most popular platforms for private private trading, compromising its online security. As a result, they fraudulently obtained millions of dollars worth of valuable non-fungible tokens (NFTs). The precious items came from a variety of collections, including World of Women NFTs, VeeFriends, Art Blocks, Bored Ape and Mutant Ape Yacht Club tokens, and more. This was a huge setback for the entire NFT community.

The company recently raised this issue. NFT Trader admits the cyberattack targeted older smart contracts. We even recommend that all users immediately revoke previously provided smart contract authorizations to prevent further assets from being hacked.

According to NFT Trader user foobar, the attack stopped after changes were made to the platform’s smart contracts. The full upgrade is designed to address re-entrancy flaws exploited by attackers.

The key suspect in this case showed his bravery by broadcasting a public message through blockchain. The perpetrator said in a statement that he had not found a means to exploit NFTs. Rather, another user did. They also justified their actions by claiming that they had to dispose of the waste. Moreover, the attackers proposed an unusual solution: offering stolen tokens to victims in exchange for a ransom. The asking price was 3 ETH (Ethereum) per Bored Ape and 0.6 ETH per Mutant Ape.

What these attackers did after the cyberattack is strange and mysterious. For example, we returned a Bored Ape NFT and 31 ETH to a specific person. They also returned some of the staked Bored Apes to their owners, but retained the ApeCoin rewards associated with those apes.

But this first attack did not end the chaos. In addition to this attack, there have been other cases of linked server hacks where consumers lost their funds. As a result, popular tokens like Squiggles and Cool Cats were removed. A secondary attack will only worsen the pain and anxiety of the NFT community.

NFT Trader’s response to this situation is currently being scrutinized and the event continues to unfold. The Block, a leader in digital asset news, has contacted the company, but there has been no official statement yet. As a result, what happened has raised concerns throughout the community, with community members turning to NFT Trader for explanations and assurances about their virtual holdings.

An overheated market is prone to collapse, and this incident marks a watershed in the development of digital asset trading. This highlights the need for smarter contracts and more secure contract structures to protect the investments and assets of NFT proponents. And with the NFT market booming, these incidents serve as a reminder of how not to take risks while investing in digital assets. Don’t be complacent about the changing face of cyber risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025
Most Popular

Is Ripple Dumping Millions of XRP? CTO explains the reasoning behind the $34 million deal.

February 22, 2024

Bitcoin Weekly Range Breakout Signals Potential Surge: Analyst

April 1, 2024

Liminal Custody Strengthens Leadership in Digital Asset Management by Securing Core ADGM FSP License

May 14, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.