They compromised the official Instagram account then phished its followers for their NFTs.
The attacker seized control of the BAYC Instagram account and sent a phishing post that many followers were fooled into clicking on, connecting their crypto wallets to the hacker’s “smart contract” – a mechanism for implementing a crypto transaction. That enabled the attacker to steal the assets held in the wallets, seizing control of four Bored Apes, as well as a host of other NFTs with an estimated total value of $3m.
One of the funniest ways that these people get hacked is that you can give someone an NFT. Like it’ll show up in the wallet, no way to get rid of it. So you make a fake BoredApe or whatever other stupid JPEG, with a “smart contract” that essentially boils down to “steal everything” if the person ever interacts with it. Iirc some of the bigger name people have a bunch of these fake, toxic NFTs that they can’t interact with in any way, just hanging out in their wallet.
I remember reading that because of KYC you can effectively lock people out of their crypto wallets by having your own wallet associated with something illegal and sending that person some money.
Now because the person receiving the funds doesn’t know who you are, they can’t prove the person sending them money is legit and therefore can’t unlock their accounts.
I would question how an Instagram account causes nft to be stolen… But we are on meme so let’s leave it at that.
They compromised the official Instagram account then phished its followers for their NFTs.
https://www.theguardian.com/technology/2022/apr/26/bored-ape-yacht-club-nft-hack-theft-art-simian-oblivion
well in that case it’s fine. the blockchain is tamper-proof after all, so it must have been legitimate transfers.
Of course, because if it’s a legitimate theft, the block chain has ways to try to shut that whole thing down.
🤌
I mean if you want steal it makes sense to target idiots
Ah, fair enough.
so nothing changed about the fungibility at all
One of the funniest ways that these people get hacked is that you can give someone an NFT. Like it’ll show up in the wallet, no way to get rid of it. So you make a fake BoredApe or whatever other stupid JPEG, with a “smart contract” that essentially boils down to “steal everything” if the person ever interacts with it. Iirc some of the bigger name people have a bunch of these fake, toxic NFTs that they can’t interact with in any way, just hanging out in their wallet.
I remember reading that because of KYC you can effectively lock people out of their crypto wallets by having your own wallet associated with something illegal and sending that person some money.
Now because the person receiving the funds doesn’t know who you are, they can’t prove the person sending them money is legit and therefore can’t unlock their accounts.