“I’ve lost all my apes!”NFT head shot up 1350 times in half a year, the sky-high price was stolen, more than 10 million yuan lost, what happened?

2022-05-24 0 By

NFT was born suddenly, at the same time that capital created the myth of sudden wealth, there were also thieves with covetous eyes.In a matter of minutes on The night of February 1, the NFT collection, worth tens of millions of yuan, was stolen by hackers. “I lost all my apes.”Netizens are shocked, but most of them don’t understand. “Stupid people have a lot of money. Tens of millions of people buy a picture and lose it.”On February 1, larrylawliet. Eth, a major NFT collector, said on social media thatHacked into his valuable NFT collection of Bored Ape Yacht Club, Mutant Ape Yacht Club and Doodles NFT,Hopefully, well-known NFT online trading platforms like Opensea and LooksRare will help.Photo source:Network Opensea historical data show that larrylawliet. Eth (ENS registered domain name of the user position purse) have successively to address 0 xd27045a8506369a60a227b44beadb2aed2099d70 10 pieces of NFT works,Including 4 boring apes (numbered #1606, #9138, #4250, #7985), 5 mutant apes (#25971, #25970, #8464, #3770, #2499) and Doodles #6910.Based on real-time floor prices for boring apes (118.68 Ethereum), mutant apes (25.2 Ethereum) and Doodles (16.28 Ethereum), the total value of the stolen NFT is about 617 Ethereum ($2,750 ethereum real-time price).However, given the number of rare NFTS, such as the BAYC #1606 laser-eyed ape, the total value of these NFTS is actually much higher than that.At present, the well-known NFT trading platform Opensea has issued a risk warning for this security incident, and the address of Larrylawliet. eth and related NFT have been marked in red.The big collector said the theft was directly caused by the loss of privacy information in his wallet.As of press time, he was still appealing to people who had bought their NFTS from hackers to get in touch with him, as if trying to buy them back.How did hackers steal NFT from the blockchain?Yu Jianing, executive director of China Mobile Communications Union Meta-universe Industry Committee, told reporters that in the world of blockchain, NFT assets stored in the chain wallet, in the case of no operational errors, is safe.But if a user fails to secure the wallet private key and divulges it or the corresponding mnemonic information to others, the hacker with the private key can steal the NFT from the wallet.In addition, the smart contract is behind NFT. If there is a flaw in the smart contract at the code level, hackers can also move assets by attacking the flaw.Exploding NFT what are these expensive NFT’s?NFT is a non-fungible Token. It is the only virtual currency Token used to represent digital assets. It is indivisible, irreplaceable and unique.On the blockchain, virtual currencies can be divided into two types: homogeneous and non-homogeneous.The homogeneous Token is the Fungible Token (FT), which can be replaced by each other and split nearly indefinitely.For example, if you have a bitcoin in your hand and I have a bitcoin in my hand, there is no difference in essence, that is homogenization.The stolen NFT mainly comes from the most popular collectible communities on the market – the Boring Ape Yacht Club and the Mutant Ape Yacht Club.Take boring Ape for example. The project consists of 10,000 globally limited NFT ape works, a unique digital collection on the Ethereum blockchain.These apes have different features in clothing, background, fur, facial expressions and so on, and each is unique.The Boring Ape Yacht Club project launches in May 2021, with 10,000 ape creations priced at 0.08 Ethereum.The 10,000 apes sold out in less than two hours.Cayne, a researcher at OKX, told The China Securities Journal that the Boring Ape series is undoubtedly a bellwether in the NFT circle. Due to the limited number of early issues, the current scarcity situation has continuously attracted the influx of new collectors.According to OpenSea’s latest figures, the project has generated over $1 billion in sales, with 6,300 transactions and a minimum price of $300,000.This means that the price of the product has soared more than 1,350 times in just six months.A review of historical transaction records by reporters at the China Securities Journal found brisk trading in the project, with an ape changing hands almost every few minutes.The most expensive work of an ape costs more than $300 million.The series has already attracted fans including NBA star Stephen Curry and singer Jj Lin to use them as their profile pictures on social media.Andrew Kang, founding partner of Blockchain investor Mechanism Capital, has compared NFT to luxury goods, art and high-end real estate, and suggested that the future NFT market could exceed $40 billion.Suddenly rich myth behind hidden hidden worries NFT transactions continue to hot, “a map is hard to get”, hackers will not let go of nature.On Jan. 10, Todd Kramer, a New York art collector and gallery owner who had more than $2.2 million of NFT art stolen, posted a message asking for help.OpenSea, the NFT trading platform, then intervened by blocking further trading in the series.Aggressive hackers and frequent asset theft highlight the risks in this unregulated market for NFT trading.Yu Jianing pointed out that the current NFT field in the security of operational risk, technical risk, moral risk these three categories of risk: the first is operational risk, mainly refers to the user due to improper operation of private key disclosure caused by the risk.It also includes the risk of losing assets if they are transferred to the wrong address.The second is technical risk. Behind NFT are smart contracts, in which all operations are performed by lines of code. If the code is not perfect, it can be easily exploited by hackers to attack the project.The third category is moral hazard, which mainly refers to the evil of some project parties, with NFT as a gimmick fish in troubled waters, cheating users, cheating users of virtual assets.Statement: This article is reproduced for the purpose of passing on more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn