The universe of NFTs is attractive and scary at the same time. While the expansion of these assets is attracting more and more investors, the hacks leave something to be desired. One of the largest collections currently pays the price. Once again, BAYC loses ETH and monkeys. What’s behind all these NFT scams?
NFT fraud hit the cryptosphere again
While investors are increasingly interested in NFTs, the sector is not looking good. In fact, we discover many scams that leave something to be desired. BAYC is known as one of the best NFT collections available. However, it has been constantly hacked for several months.
According to an NFT Channel analyst, hackers managed to break the security of Bored Ape community manager Boris Vagner. Officials took over Discord servers and redirected members to a phishing site. These hackers allegedly stole 145 ETH, or $ 260,000 in crypto and $ 360,000 in NFT.
A few hours later, Yuga Labs, the company behind BAYC, as well as many other collections confirmed the facts. According to the statements, the route of the stolen assets is already known and the malicious purse identified. But for NFtherder, all of this may be the cause of negligence. His opinion thus mixes with that of many other members who are beginning to question what is causing all these NFT scams.
Remember, this inconvenience is not the first. Take effect, Bored monkey has been the target of hackers for several months. A hack had already taken place in early April, then another in late April and another in May. Faced with these repeated hacks, reimbursing the losses of NFT holders is no longer an effective solution. What needs to be done to complete this series of hacks? Attributing to them misfortune is no longer enough to satisfy the members of society. It is clear that drastic measures must be taken in this case.
What if we focus on online NFT security?
NFT scams targeting BAYC for some time have puzzled investors. When it passes. Twice is understandable. But when it comes to a chain action, members have the right to start asking questions. At this rate, people no longer know who to blame. Are these scams due to investors’ lack of attention or negligence on the part of the founders of the collection?
In this growing question, one word comes back: security. So is online security the answer to quitting hacks? Currently, the only advice is to perform the basic checks to know if the site is reliable or not. Decentralized assets are not immune to possible interference. Because of this, you need to find measures to secure your assets. It is not enough to use a blockchain ledger to be protected from fraud.
A change of mentality is also necessary to protect oneself from theft. As long as there are NFT owners, there are definitely hackers. There are people whose main job is to rob others. It is not because you resort to decentralization that all your problems are solved at once. Therefore, pay attention, notice how your community works, and avoid anything that seems unusual. Gifts and surprises are no reason to rush headlong into a trap.
Scams have been around for ages, so this is nothing new. Choosing security and caution can save you from NFT scams. While some blame Discord, others blame Yiga Labs. But no matter your point of view, hackers will always look for new victims. It is up to you to protect yourself.
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and draw attention to a field that fascinates me, there is nothing better than writing informative and casual articles at the same time.