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Friday, September 30, 2022

OpenSea Freezes Stolen Bored Ape NFTs Worth $2.2M

Art gallery owner Todd Kramer lost his BAYC NFTs worth $2.2M to hackers.

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The world’s largest NFT trading platform, OpenSea has announced the freezing of 16 Bored Ape Yacht Club (or BAYC) NFTs after hackers reportedly hacked from New York Art Gallery owner Todd Kramer. Kramer lost 16 NFT pieces that have a value of 615 Ethereum tokens or $2.2 M.

Bored Ape NFT

After the hacked news, OpenSea intervened and froze those assets to stop the goons from selling them. the 16 hacked BAYC NFTs are not tradable on OpenSea anymore.

Kramer posted a series of tweets explaining the loss of the treasured pieces. OpenSea came to his aid but received a backlash from multiple tweets questioning how the platform could freeze the assets.

He had posted a tweet explaining that he lost his NFT holdings to a phishing scammer via clicking on a bad link. However, he removed his post due harsh reactions from the NFT community. Today, he posted another tweet to express the surprise that he got regarding the cruelty of twitters.

Many replied with mixed reactions after the stolen NFTs are freezed by OpenSea. Many expressed concern over the platform’s governance. Others pointed out that this is absurd since it does not signify decentralization, thus making such a functionality against the crypto spirit.

This is not the first time NFTs were stolen, On December 26, 2021, a NFT collector named Bergpay said that he lost 7 NFTs from an ETH hot wallet and the perpetrator also changed the ENS domain.

On Nov 30, 2021, another NFT collector friesframe  confirmed that they also lost NFTs from a hot wallet. However, OpenSea is yet to freeze the assets from Bergpay and friesflame, which sparks further controversy about their intervention system.

 

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