Despite the bearmarket,NFT scams are on therise.A recent attack on Blur resulted in the loss ofhigh-valueNFTs worth over$200,000.
Points
- DetailsoftherecentNFTscamonBlur.
- ThevalueandtypesofNFTsstolen.
- Howthescamwasexecuted.
- ImplicationsfortheNFTmarketandsecurity.
- AdviceforNFTinvestorstopreventscams.
AnNFTInvestorLoses$240KInAHack
In a recentattack,anon-fungibletoken（NFT）collector lost digital items worth more than$200,000to a scammer onBlur.According toQuit,anon-chaincryptosleuth,the victim lost6Bored Ape Yacht Club（BAYC）,40Beanz,and3Azuki Elementals NFTs after listing them for one wei each to ascammer.
A user just lost6BAYC,40Beanz,and3elementals by bulk listing them for1wei each to a scammer onBlur.
https://twitter.com/0xQuit/status/1808310280906330607
HowDidThisUserLoseHisNFTs?
Typically,Blurdoesn’toffer privatelistings,making any listing open to fulfillment byanyone,includingscammers.The scam involved phishing signatures to list items above thefloor,setting thescammer’saddress as the royalty recipient with100%royalties.Thescammer,known as PinkDrainer,exploited this by setting the royalty recipient to a contract that reverts any transaction not initiated by PinkDrainer,effectively making it a privatesale.
ImplicationsfortheNFTMarket
The value of the stolen NFT collection is estimated to reach nearly$240,000,including notable items like BAYC#4008and BAYC#4144.This scam highlights the vulnerabilities within the NFTmarket,particularly in platforms without robust security measures for privatelistings.
Conclusion
The resurgence of NFT scams underscores the need for enhanced security measures and investorvigilance.NFT investors should be cautious of phishing attempts and ensure they use platforms with secure listingoptions.The NFT community must advocate for better protection mechanisms to safeguard valuable digitalassets.