<p>Blockchain research firm Elliptic said that thieves stole over $100 million worth of non-fungible tokens (NFTs) in the year to July.</p>

<p>The blockchain-based assets, which can be transferred by the owner, represent digital files, and cover anything from avatars in computer games to million-dollar cartoon apes.</p>

<p>From wash trading to counterfeit works, the NFT sector is replete with scams as the fast-emerging digital asset became a new front in crypto's hacking problem.</p>

<p>It comes after NFT prices and sales volumes plunged since cryptocurrency prices crashed in May and June this year.</p>

<p><strong><a href="https://www.wionews.com/trending/clipart-rock-nft-worth-1-million-accidentally-sold-for-less-than-a-penny-461884">Also read |&nbsp;Clipart rock NFT worth $1 million accidentally sold for less than a penny</a></strong></p>

<p>With July seeing the highest number of NFTs reported stolen on record, scams remain rife in the NFT market even as it declines.</p>

<p>Accounting for 23 per cent of NFT thefts in 2022, security compromises via social media have surged, according to London-based Elliptic.</p>

<p>Given that not all crimes are publicly reported, the true scale of NFT thefts is likely to be even higher.</p>

<p><strong><a href="https://www.wionews.com/technology/bored-ape-nft-company-raises-around-285-million-of-crypto-after-facing-massive-hack-475553">Also read |&nbsp;Bored Ape NFT company raises around $285 million of crypto after facing massive hack</a></strong></p>

<p>While regulators around the world are increasingly concerned about the use of crypto assets in cyber crime, hacks and scams have long plagued the crypto industry.</p>

<p>The report stated that almost $329 million worth of funds in the NFT market came from services such as so-called cryptocurrency mixers.</p>

<p>Before it was sanctioned by the United States this month, Tornado Cash was used for laundering just over half of the proceeds of NFT scams as it was designed to hide the funds' origin.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>Watch WION's live TV here:</strong></p>

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Blockchain research firm Elliptic said that thieves stole over $100 million worth of non-fungible tokens (NFTs) in the year to July. The blockchain-based assets, which can be transferred by the owner, represent digital files, and cover anything from avatars in computer games to million-dollar cartoon apes.

Blockchain research firm Elliptic said that thieves stole over $100 million worth of non-fungible tokens (NFTs) in the year to July. The blockchain-based assets, which can be transferred by the owner, represent digital files, and cover anything from avatars in computer games to million-dollar cartoon apes. From wash trading to counterfeit works, the NFT sector is replete with scams as the fast-emerging digital asset became a new front in crypto's hacking problem. It comes after NFT prices and sales volumes plunged since cryptocurrency prices crashed in May and June this year. Also read | Clipart rock NFT worth $1 million accidentally sold for less than a penny With July seeing the highest number of NFTs reported stolen on record, scams remain rife in the NFT market even as it declines. Accounting for 23 per cent of NFT thefts in 2022, security compromises via social media have surged, according to London-based Elliptic. Given that not all crimes are publicly reported, the true scale of NFT thefts is likely to be even higher. Also read | Bored Ape NFT company raises around $285 million of crypto after facing massive hack While regulators around the world are increasingly concerned about the use of crypto assets in cyber crime, hacks and scams have long plagued the crypto industry. The report stated that almost $329 million worth of funds in the NFT market came from services such as so-called cryptocurrency mixers. Before it was sanctioned by the United States this month, Tornado Cash was used for laundering just over half of the proceeds of NFT scams as it was designed to hide the funds' origin. (With inputs from agencies) Watch WION's live TV here: ×

Scams remain rife in NFT market; tokens worth $100 million stolen in past year

<p>Shattering previous records, two Italian brothers cum cryptocurrency investors have become the owners of the world's&nbsp;most expensive bottle of champagne ever sold. The bottle&nbsp;sold for a whopping $2.5 million has been produced by Champagne Avenue Foch and named 'magnum of Chateau Avenue Foch'.&nbsp;</p>

<p>Along with the bottle, the brothers have also purchased the digital NFT rights to the artwork that adorns the one-of-a-kind magnum.&nbsp;&nbsp;The multi-million Swarovski crystal-embedded bottle is bundled with five different NFTs that include an ape from the Bored Ape Yacht Club and a Sneaky Vampire Syndicate vampire. Reportedly, the artwork has been illustrated by an artist named Mig.&nbsp;</p>

<p>Brothers Giovanni and Piero Buono, despite having a cryptocurrency portfolio, made the purchase of the bubbly drink and the NFT in dollars. However, both&nbsp;brothers have no intention&nbsp;to open the bottle.</p>

<p>"I don't plan to drink it. I think it will be a good investment," Giovanni was quoted as saying by the Washington Street Journal. He also explained the reason as being the current volatility in the market. "There is a lot of turmoil in the investment world, things are changing quickly. Wealthy people will look for places to store their wealth for a while and that could be a champagne with an NFT attached to it."</p>

<p>Read More:&nbsp;<a href="https://www.wionews.com/photos/eca-international-releases-its-annual-list-of-the-worlds-most-expensive-cities-to-live-in-see-pics-486627">Are you living in one of the world's most expensive cities? Find out here</a></p>

<p>Previously, several big celebrities have shelled a fortune to purchase the&nbsp;NFTs; with the Bored Ape collectible selling like hot cakes at the peak of NFT euphoria. However, the market in recent times has been rather unforgiving to NFT investors.&nbsp;From an all-time high of 153 Ethereum, the 'floor price' of a Bored Ape Yacht has fallen to 93 Ethereum.</p>

<p>The previous record for the most expensive wine of any kind was held by a collector who purchased a bottle of Domaine de la Romanée-Conti for an estimated sum of&nbsp;$558,000 in 2018.<br />
&nbsp;</p>

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Shattering previous records, two Italian brothers cum cryptocurrency investors have become the owners of the world's most expensive bottle of champagne ever sold.

Shattering previous records, two Italian brothers cum cryptocurrency investors have become the owners of the world's most expensive bottle of champagne ever sold. The bottle sold for a whopping $2.5 million has been produced by Champagne Avenue Foch and named 'magnum of Chateau Avenue Foch'. Along with the bottle, the brothers have also purchased the digital NFT rights to the artwork that adorns the one-of-a-kind magnum. The multi-million Swarovski crystal-embedded bottle is bundled with five different NFTs that include an ape from the Bored Ape Yacht Club and a Sneaky Vampire Syndicate vampire. Reportedly, the artwork has been illustrated by an artist named Mig. Brothers Giovanni and Piero Buono, despite having a cryptocurrency portfolio, made the purchase of the bubbly drink and the NFT in dollars. However, both brothers have no intention to open the bottle. "I don't plan to drink it. I think it will be a good investment," Giovanni was quoted as saying by the Washington Street Journal. He also explained the reason as being the current volatility in the market. "There is a lot of turmoil in the investment world, things are changing quickly. Wealthy people will look for places to store their wealth for a while and that could be a champagne with an NFT attached to it." Read More: Are you living in one of the world's most expensive cities? Find out here Previously, several big celebrities have shelled a fortune to purchase the NFTs; with the Bored Ape collectible selling like hot cakes at the peak of NFT euphoria. However, the market in recent times has been rather unforgiving to NFT investors. From an all-time high of 153 Ethereum, the 'floor price' of a Bored Ape Yacht has fallen to 93 Ethereum. The previous record for the most expensive wine of any kind was held by a collector who purchased a bottle of Domaine de la Romanée-Conti for an estimated sum of $558,000 in 2018. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Champagne bottle adorned with NFT artwork sells for a record $2.5 million

<p>Bored Ape non-fungible token (NFT) company on Sunday raised approximately $285 million of cryptocurrency in a virtual land sale after facing a massive hack.</p>

<p>NFTs are a type of digital asset which buyers purchase through cryptocurrencies but no physical pieces of art exchange hands in these transactions.</p>

<p>It only exists on a blockchain, which serves as a public ledger, and is recorded on a network of computers.</p>

<p>However, Blockchain allows anyone to verify the authenticity of NFTs as well as their owner.</p>

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<p>The market of NFTs exploded in popularity last year with several digital tokens selling for millions.</p>

<p>The Bored Ape Yacht Club NFTs was created by a startup in the United States called Yuga Labs which uses a computer network of 10,000 for the generation of cartoons.</p>

<p>Andreessen Horowitz, a private American venture capital firm, helped Yuga labs to raise $450 million in March as funding.</p>

<p>Earlier, the official Instagram account of the Bored Ape Yacht Club was hacked after which scammers stole NFTs worth $3 million with the help of a phishing link they posted on it.</p>

<p><strong><a href="https://www.wionews.com/entertainment/hollywood/news-justin-bieber-gets-trolled-for-buying-bored-ape-nft-for-129-million-449643">Also read |&nbsp;Justin Bieber gets trolled for buying Bored Ape NFT for $1.29 million</a></strong></p>

<p>Malaysian artist mumu_thestan told AFP in a telephone interview, "You can't treat the whole NFT community as one."</p>

<p>"The mainstream audience thinks NFTs are about selling a jpeg for millions or making a monkey picture. That's not all it is."</p>

<p>On April 30, Yuga Labs released a new series of NFTs called the "Otherdeeds" priced at 305 ApeCoin each which were sold out minutes after they launched. Through the sale, the company raked in 16,775,000 ApeCoin or $285 million.&nbsp;</p>

<p>The company earned&nbsp;more than $1.3 million last week for an NFT it sold to pop star Justin Bieber&nbsp;from the collection known as "Bored&nbsp;Apes Yacht Club".</p>

<p>According to analytics firm Chainalysis, NFTS worth $40 billion were sold last year following a boom in the market.</p>

<p><strong>Watch WION's live TV:</strong></p>

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<p><em>(With inputs from agencies)</em></p>


Bored Ape non-fungible token (NFT) company on Sunday raised approximately $285 million of cryptocurrency in a virtual land sale after facing a massive hack. NFTs are a type of digital asset which buyers purchase through cryptocurrencies but no physical pieces of art exchange hands in these transactions.

Bored Ape non-fungible token (NFT) company on Sunday raised approximately $285 million of cryptocurrency in a virtual land sale after facing a massive hack. NFTs are a type of digital asset which buyers purchase through cryptocurrencies but no physical pieces of art exchange hands in these transactions. It only exists on a blockchain, which serves as a public ledger, and is recorded on a network of computers. However, Blockchain allows anyone to verify the authenticity of NFTs as well as their owner. The market of NFTs exploded in popularity last year with several digital tokens selling for millions. The Bored Ape Yacht Club NFTs was created by a startup in the United States called Yuga Labs which uses a computer network of 10,000 for the generation of cartoons. Andreessen Horowitz, a private American venture capital firm, helped Yuga labs to raise $450 million in March as funding. Earlier, the official Instagram account of the Bored Ape Yacht Club was hacked after which scammers stole NFTs worth $3 million with the help of a phishing link they posted on it. Also read | Justin Bieber gets trolled for buying Bored Ape NFT for $1.29 million Malaysian artist mumu_thestan told AFP in a telephone interview, "You can't treat the whole NFT community as one." "The mainstream audience thinks NFTs are about selling a jpeg for millions or making a monkey picture. That's not all it is." On April 30, Yuga Labs released a new series of NFTs called the "Otherdeeds" priced at 305 ApeCoin each which were sold out minutes after they launched. Through the sale, the company raked in 16,775,000 ApeCoin or $285 million. The company earned more than $1.3 million last week for an NFT it sold to pop star Justin Bieber from the collection known as "Bored Apes Yacht Club". According to analytics firm Chainalysis, NFTS worth $40 billion were sold last year following a boom in the market. Watch WION's live TV: (With inputs from agencies)

Bored Ape NFT company raises around $285 million of crypto after facing massive hack

<p>According to a posting from BAYC's Twitter account, the official Instagram account of the Bored Ape Yacht Club was hacked Monday morning.</p>

<p>According to Greg Solano, a BAYC co-founder who goes by the nickname "Gargamel," they stole four Bored Ape NFTs, as well as other NFTs from related projects—seven from the Mutant Apes collection and three from the Bored Ape Kennel Club collection.</p>

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<p dir="ltr" lang="en">🚨There is no mint going on today. It looks like BAYC Instagram was hacked. Do not mint anything, click links, or link your wallet to anything.</p>
— Bored Ape Yacht Club (@BoredApeYC) <a href="https://twitter.com/BoredApeYC/status/1518590210686308354?ref_src=twsrc%5Etfw">April 25, 2022</a></blockquote>
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<p>The morning's events were detailed in a tweet thread by the BAYC account: A hacker uploaded a fake link to the hijacked Instagram account that, when clicked, took victims to a clone of the BAYC website with the promise of a special new feature for holders of Bored Ape NFTs.</p>

<p>The link was a phishing link, allowing the hacker to access the users' Ethereum wallets and steal their funds.</p>

<p>According to Twitter user Zachxbt, who often probes NFT attacks, an assortment of about 77 additional NFTs were also stolen during the hack when the hacker drained the victims' wallets.&nbsp;</p>

<p>To figure out which specific assets were stolen, Zachxbt looked at which addresses interacted with the phishing site.&nbsp;</p>

<p>Zachxbt estimated that around $3 million in NFTs were stolen in total in this breach in a direct message, with $2.4 million in value represented by just a few of the more unusual NFTs stolen.</p>


According to a posting from BAYC's Twitter account, the official Instagram account of the Bored Ape Yacht Club was hacked Monday morning. According to Greg Solano, a BAYC co-founder who goes by the nickname "Gargamel," they stole four Bored Ape NFTs, as well as other NFTs from related projects—seven from the Mutant Apes collection and three from the Bored Ape Kennel Club collection.

According to a posting from BAYC's Twitter account, the official Instagram account of the Bored Ape Yacht Club was hacked Monday morning. According to Greg Solano, a BAYC co-founder who goes by the nickname "Gargamel," they stole four Bored Ape NFTs, as well as other NFTs from related projects—seven from the Mutant Apes collection and three from the Bored Ape Kennel Club collection. 🚨There is no mint going on today. It looks like BAYC Instagram was hacked. Do not mint anything, click links, or link your wallet to anything. — Bored Ape Yacht Club (@BoredApeYC) April 25, 2022 × The morning's events were detailed in a tweet thread by the BAYC account: A hacker uploaded a fake link to the hijacked Instagram account that, when clicked, took victims to a clone of the BAYC website with the promise of a special new feature for holders of Bored Ape NFTs. The link was a phishing link, allowing the hacker to access the users' Ethereum wallets and steal their funds. According to Twitter user Zachxbt, who often probes NFT attacks, an assortment of about 77 additional NFTs were also stolen during the hack when the hacker drained the victims' wallets. To figure out which specific assets were stolen, Zachxbt looked at which addresses interacted with the phishing site. Zachxbt estimated that around $3 million in NFTs were stolen in total in this breach in a direct message, with $2.4 million in value represented by just a few of the more unusual NFTs stolen.

Bored Ape Yacht Club hit with massive hack, estimated $3 million worth of NFTs gone

<p>A non-fungible token (NFT) collector accidentally sold his Clipart rock NFT worth $1 million for less than a penny.</p>

<p>They listed their valuable NFT for 444 Wei instead of 444 ETH. Wei is the smallest unit of Ether and one Wei is equal to one quintillionth of an Ether.</p>

<p>A non-fungible token (NFT) is a crypto asset that uses blockchain to record who owns a digital file such as an image or video.</p>

<p>Soon after the NFT was sold for less than a penny, it was listed again for 234 ETH (Rs 4.6 crore). This NFT seller who made a huge blunder took to Twitter to share his bad luck and asked for help.&nbsp;</p>

<p>He wrote, "How's your week? Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth. Bot sniped it in the same block and tried to flip for 234 eth In one click my entire net worth of ~$1 million dollars, was gone. Is there any hope? Am I GMI? Can snipers show mercy?"</p>

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<p dir="ltr" lang="en">How's your week?<br />
<br />
Mine? I just erroneously listed <a href="https://twitter.com/EtherRock?ref_src=twsrc%5Etfw">@etherrock</a> #44 for 444 wei instead of 444 eth🤦‍♂️<br />
<br />
Bot sniped it in the same block and trying to flip for 234 eth<br />
<br />
In one click my entire net worth of ~$1 million dollars, gone<br />
<br />
Is there any hope?<br />
<br />
Am I GMI?<br />
<br />
Can snipers show mercy? <a href="https://t.co/yq9Itb2Ukb">pic.twitter.com/yq9Itb2Ukb</a></p>
— Rock dust 😭 (@dino_dealer) <a href="https://twitter.com/dino_dealer/status/1501802006364635139?ref_src=twsrc%5Etfw">March 10, 2022</a></blockquote>
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<p>Most replies expressed disbelief with a little mocking thrown in. One Twitter user replied, “the silver lining is that your entire net worth is no longer in a rock jpeg?”</p>

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<p dir="ltr" lang="en">What a pity that people lose their bank on inattention. Hang on in there, brother! Hope everything will be ok! <a href="https://twitter.com/dino_dealer?ref_src=twsrc%5Etfw">@dino_dealer</a> ❤️ <a href="https://t.co/4FqeLGaGEg">https://t.co/4FqeLGaGEg</a></p>
— JuicyF (@JuicyFlipp) <a href="https://twitter.com/JuicyFlipp/status/1502435690331754501?ref_src=twsrc%5Etfw">March 12, 2022</a></blockquote>
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<p>EtherRock is a four-year-old NFT project that inexplicably went viral last year and saw its prices skyrocket. The project consists of 100 free clipart images of the same cartoon rock, each featuring a slightly different color, turned into NFTs. In October, a bid was placed on one EtherRock for 900 ETH (then $3.5 million).</p>

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<p dir="ltr" lang="en">Sorry for ur loss man. Im sure u will be fine and be a greater person. I lost a tiny fraction of what u lost and felt like my life was over. But hey we are still alive. And maybe being alive is enough sometimes. Keep grinding brother.</p>
— Nightman (@NightmanB_23) <a href="https://twitter.com/NightmanB_23/status/1501961826996654083?ref_src=twsrc%5Etfw">March 10, 2022</a></blockquote>
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<p>Bot sniping has become rampant in NFT marketplaces over the past year―to the point that websites offer bots to help you beat others that may be a millisecond faster. One listing on gig work platform UpWork, to take one example, claims to offer an NFT sniping bot in various tiers for thousands of dollars so you can get a “competitive edge” if you’re “tired of being LAST” when trying to buy NFTs.</p>

<p>In the past few years, large venture investors, celebrities and blue-chip companies have doubled down on crypto investments, betting on the potential of cryptocurrencies and the rapidly growing market for NFTs.</p>

<p>The global NFT market is already worth tens of billions of dollars.</p>

<p>The most famous collections, Bored Ape Yacht Club and CryptoPunks, feature cartoon images replicated 10,000 times with algorithm-generated variations.</p>

<p>They are often pilloried for blocky graphics or tacky animation style.&nbsp;</p>

<p>Also, those who buy NFTs do not get a physical product, rather they receive a verified entry on a blockchain, essentially a piece of computer code.</p>

<p>The value comes from the supposed rarity or fame of the object, often driven by celebrity endorsements.</p>

<p>&nbsp;</p>


A non-fungible token (NFT) collector accidentally sold his Clipart rock NFT worth $1 million for less than a penny. They listed their valuable NFT for 444 Wei instead of 444 ETH.

A non-fungible token (NFT) collector accidentally sold his Clipart rock NFT worth $1 million for less than a penny. They listed their valuable NFT for 444 Wei instead of 444 ETH. Wei is the smallest unit of Ether and one Wei is equal to one quintillionth of an Ether. A non-fungible token (NFT) is a crypto asset that uses blockchain to record who owns a digital file such as an image or video. Soon after the NFT was sold for less than a penny, it was listed again for 234 ETH (Rs 4.6 crore). This NFT seller who made a huge blunder took to Twitter to share his bad luck and asked for help. He wrote, "How's your week? Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth. Bot sniped it in the same block and tried to flip for 234 eth In one click my entire net worth of ~$1 million dollars, was gone. Is there any hope? Am I GMI? Can snipers show mercy?" How's your week? Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth🤦‍♂️ Bot sniped it in the same block and trying to flip for 234 eth In one click my entire net worth of ~$1 million dollars, gone Is there any hope? Am I GMI? Can snipers show mercy? pic.twitter.com/yq9Itb2Ukb — Rock dust 😭 (@dino_dealer) March 10, 2022 × Most replies expressed disbelief with a little mocking thrown in. One Twitter user replied, “the silver lining is that your entire net worth is no longer in a rock jpeg?” What a pity that people lose their bank on inattention. Hang on in there, brother! Hope everything will be ok! @dino_dealer ❤️ https://t.co/4FqeLGaGEg — JuicyF (@JuicyFlipp) March 12, 2022 × EtherRock is a four-year-old NFT project that inexplicably went viral last year and saw its prices skyrocket. The project consists of 100 free clipart images of the same cartoon rock, each featuring a slightly different color, turned into NFTs. In October, a bid was placed on one EtherRock for 900 ETH (then $3.5 million). Sorry for ur loss man. Im sure u will be fine and be a greater person. I lost a tiny fraction of what u lost and felt like my life was over. But hey we are still alive. And maybe being alive is enough sometimes. Keep grinding brother. — Nightman (@NightmanB_23) March 10, 2022 × Bot sniping has become rampant in NFT marketplaces over the past year―to the point that websites offer bots to help you beat others that may be a millisecond faster. One listing on gig work platform UpWork, to take one example, claims to offer an NFT sniping bot in various tiers for thousands of dollars so you can get a “competitive edge” if you’re “tired of being LAST” when trying to buy NFTs. In the past few years, large venture investors, celebrities and blue-chip companies have doubled down on crypto investments, betting on the potential of cryptocurrencies and the rapidly growing market for NFTs. The global NFT market is already worth tens of billions of dollars. The most famous collections, Bored Ape Yacht Club and CryptoPunks, feature cartoon images replicated 10,000 times with algorithm-generated variations. They are often pilloried for blocky graphics or tacky animation style. Also, those who buy NFTs do not get a physical product, rather they receive a verified entry on a blockchain, essentially a piece of computer code. The value comes from the supposed rarity or fame of the object, often driven by celebrity endorsements.

Clipart rock NFT worth $1 million accidentally sold for less than a penny

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Scams remain rife in NFT market; tokens worth $100 million stolen in past year

Champagne bottle adorned with NFT artwork sells for a record $2.5 million

Bored Ape NFT company raises around $285 million of crypto after facing massive hack

Bored Ape Yacht Club hit with massive hack, estimated $3 million worth of NFTs gone

Clipart rock NFT worth $1 million accidentally sold for less than a penny