Hackers Feast on Bored Apes, NFT Trader Left in Ransom Game

• NFT Trader “old smart contracts” have been plundered by Hackers
• Initially claimed “garbage cleaning,” then demanded ransoms, and even returned some NFTs.
• BAYC founder offered to pay the ransom, raising concerns about setting a precedent.
• Hack highlights vulnerabilities in NFT platform infrastructure and smart contracts.
• Trust shaken, questions about platform security, and ethical responses to hacks.
• The crisis demands more robust security measures and collective action to protect the NFT ecosystem.

The once-gleaming halls of NFT Trader, a peer-to-peer haven for digital art enthusiasts, have been plunged into darkness. Hackers, lurking in the shadows of the blockchain, have executed a daring heist, pilfering prized NFTs from some of the most coveted collections – Bored Apes, Mutant Apes, World of Women, and VeeFriends. Millions of dollars worth of pixelated treasures leave collectors with empty wallets and a deep sense of betrayal.

NFTs drained from NFT Trader

The attack targeted “old smart contracts,” vulnerabilities in the platform’s code that the hackers exploited to feast on unsuspecting users’ assets. The stolen NFTs, boasting simian swagger and avant-garde artistry, were whisked away in a digital sleight, leaving a trail of confusion and despair.

The identity of the digital bandit remains shrouded in mystery, but their actions paint a bizarre picture. While claiming their initial motive was to clean up “residual garbage,” the hacker soon pivoted to demanding hefty ransoms. Three Ethereum (ETH) for a Bored Ape, 0.6 ETH for a Mutant Ape – the steep price for reclaiming your stolen treasure.

Unpredictable game of ransom and return

The hacker, operating under the enigmatic pseudonym 0x3dc115307c7b79e9ff0afe4c1a0796c22e366a47b47ed2d82194bcd59bb4bd46, presents a curious blend of greed and, shall we say, unconventional morals. Initially claiming to be on a mere “garbage cleaning” mission, their motives morphed into a ransom game worthy of a Hollywood heist. Three Ethereum (ETH) for a Bored Ape, 0.6 ETH for a Mutant Ape – the price for reclaiming your stolen treasure was steep, leaving collectors with a bitter choice.

But the hacker’s actions defied predictability. One Bored Ape and a hefty 31 ETH found their way back to their rightful owner. Certain staked Apes reappeared, albeit stripped of their ApeCoin rewards. This erratic dance between theft and restitution left the community bewildered and wary.

This wasn’t a solo act. Reports surfaced of auxiliary hacks, Cool Cats, and Squiggles vanishing from unsuspecting wallets as if swept away by a digital tide. Exploited intelligent contracts, those very building blocks of the NFT ecosystem, are now revealed as chinks in the armor.

NFT Trader users are seeking answers

NFT Trader, their platform rocked by the tremors of the heist, scrambled to contain the damage. Users were urged to revoke permissions to the compromised contracts, desperately plugging the leak before more treasures slipped through. The company acknowledged the breach, their voice strained with the weight of the crisis, but details remained shrouded in a fog of uncertainty.

In a move that could shape the future of NFT security, BAYC founder Garga stepped forward, pledging to pay the hacker’s 10% ETH bounty. It is a noble gesture aimed at reuniting apes with their owners, but it raises a critical question: does paying ransom set a dangerous precedent, encouraging future digital thieves?

The NFT Trader hack has left a crater in the community’s trust. Questions swirl around platform security, the reliability of smart contracts, and the ethical tightrope walk of paying ransoms. The future of NFT trading hangs in the balance, hinged on the ability of creators, platforms, and collectors to learn from this crisis and build a more resilient ecosystem.

Faced with the escalating crisis, NFT Trader scrambled to contain the damage. Users were urged to revoke permissions linked to the compromised intelligent contracts, a desperate attempt to stem the tide of pilfering. The company acknowledged the attack on its platform but remained tight-lipped on details, further fueling the community’s anxieties.

BAYC founder pledged to pay the bounty

In a move that could shape the future of NFT security, BAYC founder Garga pledged to pay the hacker’s 10% ETH bounty – a gamble aimed at recovering the stolen Apes. While this intervention offers hope, it raises a critical question: does paying ransom set a dangerous precedent, encouraging future digital thieves?

This isn’t an isolated incident. Recent months have seen a string of high-profile NFT hacks, targeting platforms like OpenSea and Rarible. They are exploiting vulnerabilities in smart contracts, which are the foundation of the NFT ecosystem. This pattern highlights the urgent need for robust security measures and a collective effort to shore up the defenses of this burgeoning digital landscape.

The story continues to unfold, and the next chapter could be written by anyone – the cunning hacker, the resolute Garga, or the united voice of a community determined to reclaim its digital treasures.