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Man’s Stolen $2.2 Million Worth Of Bored Apes NFT Collection Recovered

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A phishing scam drained Todd Kramer a gallery owner’s Ethereum wallet of 15 NFTs valued at a total of $2.2 million, including four apes from the “Bored Ape Yacht Club” collection. The thief seemed to have sold off many of the pieces in Kramer’s collection.

Phishing scam according to imperva is a type of social engineering attack often used to steal user data, including login credentials and credit card numbers. It occurs when an attacker, masquerading as a trusted entity, dupes a victim into opening an email, instant message, or text message.

With the help of the buyers and the NFT platform OpenSea, Kramer was able to get back several of his NFTs. Five hours after his original post, he wrote, in a tweet that has also since been deleted, “Update.. All Apes are frozen,,. Waiting for opensea team to get in,,,lessons learned. Use a hard wallet…”

OpenSea’s involvement sparked major controversy, with some alleging that NFTs could not truly be decentralized if it had “frozen” some, rendering them unsellable on the platform. Others pointed out that OpenSea had only frozen user’s ability to interact with the NFT through that one site alone—they could still be bought and sold elsewhere.

“We take theft seriously and have policies in place to meet our obligations to the community and deter theft in the wider ecosystem,” wrote an OpenSea representative in an email. “OpenSea is a blockchain explorer, meaning our goal is to provide the most comprehensive view into NFTs across different blockchains.

We do not have the power to freeze or delist NFTs that exist on these blockchains, however we do disable the ability to use OpenSea to buy or sell stolen items. Since this issue emerged, we’ve built security tools and processes to combat theft on OpenSea.

We are actively expanding our efforts across customer support, trust and safety, and site integrity so we can move faster to protect and empower our users.”

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