27 Jul 2022

NFT Projects Lost $22M to Largely the Same Hackers on Discord: Reports

Two Web3 security firms have issued reports focused on the recent scourge of hacks targeting NFT projects, likely by a linked group of hackers using compromised Discord server administrator accounts. According to a recent analysis by TRM Labs, cyber attacks against NFT collections have steadily risen in 2022, costing the NFT

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22 Jul 2022

OpenSea Debuts Solana NFT Launchpad to Lackluster Demand

In an apparent attempt to match rival Magic Eden’s feature set, OpenSea has rolled out its new launchpad feature for minting new Solana NFT projects. However, the leading NFT marketplace’s first drop on the launchpad has been far from a sizzling success from the start. Zoonies, an alien-themed Solana NFT profile

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20 Jul 2022

PREMINT NFT Tool hacked, $500,000 May Have Been Stolen from Users

The cryptocurrency market has been in a bear market since the beginning of the year, and most projects have lost massive value. However, despite the bear market, hackers have not shied away from the sector, and millions of dollars have been stolen from the cryptocurrency market this year. The latest hack

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12 Jul 2022

Biggest Security Concerns Around NFTs

The first known non-fungible token was a short video clip minted on May 3, 2014. Since then, NFTs have grown rapidly from amusing trifles to serious stores of value. In 2021, a work by the artist Beeple sold for a whopping $69.3 million. That was just a portion of the

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08 Jul 2022

Navigating Contractual Relationships in the NFT Market

Participants in the fast-moving – but legally uncertain – non-fungible token (NFT) marketplace can maximize their business opportunities and mitigate risk by delineating their specific role early and clearly defining where their obligations begin and where their responsibilities end. Understanding and defining your role, and the role of your counterparties,

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05 Jul 2022

Chinese Tech Giants Alibaba, Tencent to Require ID Checks for NFT Purchases

Tencent, Ant Group, Baidu, JD.com, and several other leading Chinese tech companies last week issued a “self-disciplined development proposal” for the “digital collectible industry” that would introduce real-name authentication for users that issue, buy, and sell non-fungible tokens (NFTs), according to a South China Morning Post report. According to a statement

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05 Jul 2022

Optimism’s Quixotic Hacked, Promises to Reimburse All Affected Users

Quixotic – an NFT marketplace that runs on Optimism – revealed that wrongdoers breached its security and drained ERC-20 tokens. The organization assured that users with stolen assets will be reimbursed. In a recent tweet, Quixotic disclosed that criminals attacked its “Offer” feature and stole ERC-20 tokens. The team advised its

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30 Jun 2022

NFT Platform OpenSea Joins Long List of Crypto Data Breach Victims

OpenSea, the largest non-fungible token (NFT) marketplace by trading volume, has suffered a data breach after an employee at Customer.io, the platform’s email delivery partner, leaked user data. In a blog post on Thursday, the marketplace said that an employee of Customer.io “misused their employee access to download and share

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06 Jun 2022

Yuga Labs Confirms Discord Server Hack; 200 ETH Worth of NFTs Stolen

The Bored Ape Yacht Club (BAYC) Discord server was hacked Saturday, with the attacker making off with 200 ETH ($360,000) worth of non-fungible tokens (NFT), according to Yuga Labs. The hack took place after the project’s community manager, Boris Vagner, had his Discord account compromised, which the attacker then used

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06 Jun 2022

Thefts, Fraud and Lawsuits at the World’s Biggest NFT Marketplace

Chris Chapman used to own one of the most valuable commodities in the crypto world: a unique digital image of a spiky-haired ape dressed in a spacesuit. Mr. Chapman bought the nonfungible token last year, as a widely hyped series of digital collectibles called the Bored Ape Yacht Club became a

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