Security Breach at NFT Trader: Hackers Steal Millions in NFTs
A security breach occurred on Dec. 16 at the peer-to-peer trading platform NFT Trader, resulting in the theft of millions of dollars’ worth of nonfungible tokens (NFTs). The incident targeted old smart contracts, and NFT Trader has urged users to revoke delegations to two specific addresses. Among the stolen NFTs are Mutant Ape Yacht Club, Bored Ape tokens, VeeFriends, and World of Women NFTs, with total losses estimated at nearly $3 million. Revoke.cash has provided this information.
Rumors and Misinformation Surrounding the Hack
Following the security breach, rumors and misinformation began circulating on social media platforms. It is still unclear how many hackers were involved in exploiting the security flaw. One of the attackers admitted that another user was responsible for the original exploit and demanded ransom payments in return for the stolen NFTs.
Hacker Returns Rare NFT Along with ETH
In an unexpected turn of events, one victim reported that the hacker returned a rare NFT along with 31 ETH, valued at nearly $70,680 at the time. The victim expressed surprise and confusion regarding this gesture.
Hot Take: Security Breach Exposes Vulnerabilities in NFT Trading Platforms
The recent security breach at NFT Trader highlights the vulnerabilities that exist within NFT trading platforms. Despite efforts to secure smart contracts and protect user assets, hackers continue to exploit weaknesses in the system. This incident serves as a reminder for users to exercise caution when engaging in crypto transactions and to implement additional security measures to safeguard their valuable digital assets.
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