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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28 Jun 2022

The latest trends in hacker attacks and how to deal with them

As the DeFi sector continues to attract money and users, bad actors from around the world continue to view it as an attractive target that is ripe for the picking and poorly protected. Over the last several months, I have been keeping track of some of the most notable exploits of

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27 Jun 2022

Crypto Security: Protect Your Coins and NFTs From Being Stolen

With crypto prices in free fall, crypto firms laying off thousands of workers and coins that are considered “stable” losing all their value, it’s more important than ever to secure your remaining portfolio. The current crypto crash isn’t the only way people are losing their money. There have been an increasing

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23 Jun 2022

NFT, DeFi and crypto hacks abound — Here’s how to double up on wallet security

The explosiveness and high dollar value of nonfungible tokens (NFTs) seem to either distract investors from upping their operational security to avoid exploits, or hackers are simply following the money and using very complex strategies to exploit collectors’ wallets. At least, this was the case for me way back when after

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22 Jun 2022

How to keep your NFTs safe from scammers

According to Wikipedia, the first known non fungible token (NFT) was created in 2014 and the first NFT project was launched in late 2015. It took a few more years and more projects for the concept to trickle into the consciousness of the general public, and then a few more

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