Another day, another heist at the Bored Ape Yacht Club. On Monday, a hacker gained access to the popular NFT brand’s Instagram account and shared a link to a rumoured airdrop in which existing Bored Ape holders would receive a free allocation of land in the future Otherside metaverse. However, the URL in the message was a phishing scheme. Bored Ape Yacht Club NFTs were taken from anyone that opened it and connected their crypto wallet.

The con artist made off with a large sum of money. According to one of Bored Ape’s authors, the fraud resulted in the theft of four Bored Ape Yacht Club NFTs, six Mutant Ape Yacht Club NFTs, and three Bored Ape Kennel Club NFTs. The fraud didn’t just damage BAYC NFTs: one user lost their Clone X NFT, which was valued about $54,000.

Yuga Labs’ inaugural NFT collection, Bored Ape Yacht Club, was launched in April of this year, and each piece now sells for a minimum of $430,000. (145 ether). The Bored Ape Kennel Club is a group of canines that are the pets of the Bored Apes, according to the BAYC canon. Last June, they were given away for free to Bored Ape owners, but they currently sell for a minimum of $42,000. (14 ether). Finally, the Mutant Ape Yacht Club collection debuted in August as a free drop for all current BAYC members, and now has a starting price of $117,000 dollars (39 ether).

Read This;-The Metaverse’s Nike NFT Sneakers are selling for $8,000.

So, regardless of your beliefs about the NFT bubble’s long-term viability, the haul is now worth $2.57 million. The stolen commodities have been labeled as “suspicious behaviour” by OpenSea, the largest NFT marketplace, but no one can stop the NFTs from being traded. Several have already been sold on LooksRare, another NFT store.

The four NFTs belonging to the Bored Ape Yacht Club were sold for a total of $1.6 million (540 ether).

The history of the Bored Ape Yacht Club, as well as the numerous free gifts supplied to owners, demonstrates why NFT frauds may be effective. The thought of being gifted an asset worth hundreds of thousands of dollars is a clear red signal in real life. It’s not unheard of in the realm of NFT. It’s nothing out of the ordinary for Bored Ape owners. All Bored Ape holders received an airdrop of Ape Coin, Yuga Labs’ new cryptocurrency, last month, which was valued slightly over $100,000 at the time. (The price has subsequently increased.)

“For now I would like to stress that 2FA was enabled on the account,” tweeted Gargamel, one of Yuga Labs’ founders. “The security practices surrounding the IG account were tight on Yuga’s end. Nothing important will ever get posted on Instagram again.”

Take a second to support EPOST DESK on Patreon!

LEAVE A REPLY

Please enter your comment!
Please enter your name here