NFT platform is hacked and users lose everything

The person responsible for the attack, still unidentified, recorded a message on the blockchain to communicate his intentions, claiming that the initial objective was to eliminate “residual trash” on the platform.

December 16, 2023 by Vinicius Golveia

Peer-to-peer trading platform NFT Trader suffered a massive security breach on Saturday afternoon (16), resulting in the unauthorized transfer of numerous valuable NFTs from renowned collections such as Bored Ape, Mutant Ape Yacht Club, World of Women, VeeFriends and Art Blocks. Losses exceed the million-dollar mark.

The action seeks to prevent future unauthorized transfers of digital assets. The company also emphasized the need for constant vigilance by users in protecting their digital assets.

Hacker demands ransom for NFTs

The person responsible for the attack, still unidentified, recorded a message on the blockchain to communicate his intentions, claiming that the initial objective was to eliminate “residual trash” on the platform.

However, the situation quickly escalated, with the hacker demanding ransoms in Ethereum (3 ETH and 0.6 ETH) for the return of NFTs from the Bored Apes and Mutant Apes collections.

The hacker returned a Bored Ape and 31 ETH to a user, in addition to returning some staked Bored Apes to their owners, keeping the rewards in ApeCoin.

In addition to the main attack, secondary hacks have been reported that resulted in the loss of other valuable NFTs, such as Cool Cats and Squiggles, from individual wallets.

The P2P trading platform is quite unknown to most NFT traders. Its website shows that its CEO is John Pak, working together with co-founders Mattia Migliore and an individual who goes by the pseudonym “Bruckzr”.

The community responded with a mix of confusion and concern given the unpredictable nature of the hacker's actions.

#hacker