Bored Ape Yacht Club NFT theft shows the ease of hacking crypto — from protocol.com by Tomio Geron
The blockchain puts power in the hands of individual crypto owners — which also makes them targets for criminals.
Excerpt:
The story of an art gallery owner who had $2.2 million worth of Bored Ape Yacht Club and other NFTs stolen is just the latest example of crypto theft, illustrating the vulnerability of buyers as a broader set of consumers venture into the field.
With NFTs, the issue has grown in importance as the market has transformed from a niche hobby to an active market filled with speculators and investors.
Todd Kramer of New York’s Ross+Kramer gallery fell victim to a phishing scam in late December, according to a now-deleted tweet. He stored his NFTs using an internet-connected hot wallet — a less secure method — and a thief made off with 15 digital tokens worth $2.2 million.
From DSC:
How’s the legal field doing here? Law enforcement? Governments? The banking systems?