Blockchain technology is considered as an epitaph for security. Projects based on blockchain hence meant to be highly secured and well managed. Cryptocurrencies and Non-fungible tokens, both the new age digital assets are based on blockchain. Security measures of the technology makes it hard for anyone to steal from it. However, whenever such an instance occurs, it makes headlines all over.
As mentioned, stealing of digital assets such as NFTs is not that common. Whenever any such instance takes place, it doubles the impact given the volatility on top of momentary financial loss. Recently in a digital attack, thieves stole Bored Ape Yacht Club non-fungible tokens.
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BAYC stealing was itself a big issue yet this news gained more attention because of the high profile target in this heist. CEO of Cameo, Steven Galanis, reported to become victim of the recent attack. As Reported, his Apple ID was hacked last week and he ended up losing lots of NFTs. Among his stolen NFTs, one of the prominent ones was a BAYC digital collectible in his collection.
While informing about the heist, Galanis stated on Twitter that on Saturday, his BAYC #9012 was stolen. Further, the NFT was also reported to be resold. In January this year, Galanis bought the Ape for 100 ETH, worth around 319,500 USD given the price at the time of purchase. The thief reported selling the stolen NFT for 77 ETH, worth approx 130.000 USD.
According to the tweet of Galanis, apart from BAYC, the thief also took his Otherside token and some 9,000 ApeCoin. The crypto assets other than Ape would currently cost approx 66,000 USD. NFT marketplace OpenSea quickly responded to the situation and took action. It halted the stolen Ape from selling on the platform.
Stealing of Galanis’ BAYC is not the first case of NFTs theft. Many other NFT owners have also lost their digital collectibles. Famous Hollywood actor, Seth Green, also had an Ape that was reported to have been hacked. However, Green had bought it back for around 300,000 USD.
Source: https://www.thecoinrepublic.com/2022/08/09/bayc-stolen-in-a-digital-heist-cameo-ceo-lost-nfts/