More than $ 2.2 million worth of NFTs were stolen from a New York-based art collector and gallery owner. This emerges from a series of tweets that have since been deleted.

In New York a gallery owner has 15 NFTs More than $ 2 million worth of stolen.

& laquo; All my monkeys are gone

Among the stolen NFTs were four monkeys from the “Bored Ape Yacht Club” collection.

& laquo; All my monkeys are gone & ndash; Thieves steal NFT collections worth millions

More and more artists are relying on non-fungible tokens, or NFT for short.

That's

  • NFTs are unique digital objects that, like cryptocurrencies, are based on a blockchain.

  • Fraudsters have now stolen NFTs worth over two million US dollars from a New York gallery owner.

  • With the increasing value of many NFTs, phishing attempts for digital objects are also increasing.

“I've been hacked. All of my monkeys are gone. Please help me, »wrote the gallery owner Todd Kramer, who works at the New York gallery Ross + Kramer, in a tweet dated December 30th, which has since been deleted.

A phishing scam had reduced his Ethereum wallet by 15 NFTs with a total value of 2.2 million US dollars, including four monkeys from the “Bored Ape Yacht Club” collection, as reported by “Artnews”. The thieves appeared to have already sold many of the items in Kramer's collection, and Twitter users made fun of the gallery owner's bad luck, pointing out that, with the NFTs, he was relying on an unregulated, decentralized system that was his could not help in such an emergency.

“Man, if only there was some kind of regulatory authority that could insure your investments against theft and fraud,” wrote one user in a sarcastic tone.

Could NFTs be “frozen”?

But in the end, an authority came into play. With the help of the NFT platform Opensea, which it claims to be the largest NFT trading platform in the world, Kramer was able to get several of his NFTs back. Five hours after his original Twitter post, he wrote in a tweet that has now also been deleted: «Update … All the monkeys are frozen. Wait for the Opensea team to come in. Lesson learned. »

Opensea's involvement sparked a lot of controversy, with some claiming that NFTs couldn't really be decentralized if it was possible to “freeze” some of them to make them unsaleable. Others pointed out that Opensea has only frozen users' ability to interact with the NFTs through that one website – they could still be bought and sold elsewhere. Neither Opensea nor the gallery owner Kramer responded to requests for comments.

As the amounts paid for NFTs increase, so too does the number of phishing scams. As “The Art Newspaper” writes, the incident is the latest in a series of high-profile cases that show the vulnerability of buyers in a largely unregulated market, including the disappearance of the creator of the Evil Ape series, valued at 2.7 million US dollars last October (which left investors empty) and the theft of three Bored Ape tokens from a collector in the following month.

«Cold Wallet» can happen before Protecting NFT theft

However, some users protect themselves by using a physical wallet, also known as a cold wallet, which is only connected to the Internet when it is plugged in and activated. Kramer had used what is known as a “hot wallet”, which is constantly connected to the Internet, making it more susceptible to fraud.

Even more common than phishing scams are thefts of another type. Some people have started using NFTs of works of art that they did not create themselves – a problem for which no simple solution has yet been found.

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By Teresa Tapmleton

Teresa Tampleton has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Nizh TEkegram, Teresa Tampleton worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teresa@ntelegram.com 1-800-268-7341

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