08 Aug 2022

$200,000 worth of crypto stolen by hacking into tech CEO’s iCloud account

In a high-profile hack on Saturday, Steven Galanis, the co-founder and CEO of the Cameo app, said that he was the victim of a crypto hack. Galanis tweeted that he had lost several NFTs, including one Bored Ape, and over $70,000 worth of cryptocurrency. While he said that the hack

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03 Aug 2022

The 10 Most Common NFT Scams and Techniques to Avoid Them

Essentially, there are two types of NFT buyers in the market. The first one is aware of the legitimacy and the working mechanism of NFTs. In contrast, the second one is less proficient at NFTs but still considers them good investments. Undoubtedly, the chances of falling for NFT scams is

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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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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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07 Jul 2022

Don’t Fall for These 8 NFT Scams

The massive growth of NFT creation, collection and sales in the past few years has led to a growth in NFT scams seeking to separate investors from their cash or cryptocurrency. In 2021, the NFT market grew by 21,000%, with $17.6 billion in sales, according to Fortune. NFTs stored in

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06 Jul 2022

How to Secure NFT Assets

If there’s any term that can describe the current NFT market, it’s the Wild West. Because the NFT space is still experimental and regulations are unclear or lax, it has attracted a flood of hackers and scammers who are on the hunt for a payday. If you own digital assets

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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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