In a shocking turn of events, a savvy scammer has made off with a treasure trove of valuable NFTs worth around $239,676 in the Blur marketplace.
The unfortunate victim, known as 0xQuit on X (formerly Twitter), reported the theft, which included six Bored Ape Yacht Club NFTs, 40 Beanz, and three Elementals, all sold for a mere one wei each—essentially zero.
The scam was no ordinary heist. The attacker exploited a loophole in the Blur marketplace’s listing system to conduct private sales, despite Blur’s usual policies against such listings. 0xQuit, a Solidity developer and auditor, explained that the scammer manipulated the royalty settings of the NFTs, avoiding the public accessibility requirement.
In typical NFT scams, victims are tricked into listing their assets for virtually nothing, allowing automated bots to snap them up by paying higher fees, leaving the scammer with empty pockets. However, the game has evolved. Scammers now trick victims into listing their NFTs at high prices but ensure all proceeds go straight to the scammer’s address.
This new tactic involves setting a rule that cancels any transaction unless the scammer is buying, effectively making the sale private. This prevents other buyers from intercepting these low-priced listings.
The scam unfolded when the victim signed something on a phishing website, usually promoted by an impersonator account on social media advertising a free mint or airdrop checker. The incident underscores the ongoing risks in the NFT space and highlights the need for increased vigilance and security measures to protect valuable digital assets.
Cypherpunk Technologies is expanding its massive bet on Zcash by launching what it calls the…
MapleStory Universe is putting artificial intelligence in the hands of game creators with the launch…
Kalshi is making another major move beyond prediction markets, filing with the Commodity Futures Trading…
Coinbase is bringing high-leverage decentralized derivatives directly into its Base App through an integration with…
Hong Kong's first regulated Hong Kong dollar stablecoin is moving beyond testing and into real-world…
Cybersecurity researchers at Rapid7 have uncovered a sophisticated crypto fraud operation that used nearly 885,000…