NFT OpenSea Marketplace Runs $ 2.2 Million Transactions Stolen from Bored Ape

  • So far it is not clear how the hackers managed to exploit the security flaw, but OpenSea has a frozen trade in the stolen 15 NFTs.
  • OpenSea’s security flaws forced the public to question the security and decentralization of the platform.

In another unfortunate incident, hackers managed to steal 15 of Bored Ape’s popular NFTs from the Ethereum – based NFT market, OpenSea. According to Todd Kramer, owner of the NFTs, the hacker stole a total of 15 apes and mutants.

Just as a context, the total value of all these NFTs combined was $ 2.2 million. These NFTs now have a warning in the OpenSea market saying they are «reported for suspicious activity.» In addition, the OpenSea market suspended the purchase and sale of these NFTs. Its owner, Todd Kramer, has listed all the NFTs that were vulnerable to this attack. He also claimed this incident was «possibly the worst night of his life.

Ape bored NFTs have created a storm with millions being brought into NFT trade volumes. NFTs were also the most popular in the OpenSea NFT market. However, this is the first time hackers have stolen NFT from a large collection and expressed serious security concerns.

However, by freezing OpenSea transactions, the public also questioned the decentralization of these NFTs. One of the anonymous users described this measure as «anti-crypto». User of the Twitter account who responds to the name Forculus writes:

Who was able to freeze the NFTs? It seems anti-crypto enough to ask third parties to do this, and ideally they could not. This was a very weak opsec on his part. Decentralized real property no one should be able to intervene. Good luck.

OpenSea bans Phunky Ape Yatch Club

While OpenSea struggles with its own security issues, it has also disputed the approval of its platform for the Punky Ape Yacht Club (PAYC). This NFT series was also banned by the NFT platform because it was based on the Bored Ape Yacht Club (BAYC).

PAYC was very similar to Bored Ape NFTs and the only change was in its mirror. The copying of these NFTs has sparked public debate about the plagiarism of unusable signals. However, something that prohibits it raises the question that there is once again a truly decentralized market. Meanwhile, PAYC has also built a strong fan community. So it will be interesting to see how far this goes.

As early as October 2021, we reported that OpenSea has some fundamental security flaws that make your wallet have open resources. Researchers at Check Point Software claimed that the vulnerability allowed hackers to steal users’ entire cryptocurrency wallets.

Escher Booko

I am fascinated by the complex possibilities of blockchain technology and try to make the subject accessible to everyone. My goal is to make the world aware of cryptocurrencies in a simple and understandable way. I believe that cryptocurrencies and blockchain technology will have a great positive impact on people's lives.

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