Stolen Bored Ape Yacht Club #6396 Sold for 67.99ETH on Blur

02/23/2023 01:25 • NFT Newsflash • 151 views

According to reports, PeckShield Alert tweeted that the stolen BAYC # 6396 was sold at 67.99ETH on Blur.

Security company: The stolen BAYC # 6396 was sold on Blur at 67.99ETH

Interpret the above information:

The NFT market has seen a drastic expansion in recent times, making them an attractive target for cybercriminals. One such incident was the theft of a prestigious NFT from the Bored Ape Yacht Club (#6396), which was reportedly sold on Blur for 67.99 ETH. PeckShield Alert, a leading blockchain security firm, confirmed the sale through a tweet.

Bored Ape Yacht Club (BAYC) is a community of NFT enthusiasts who invest in virtual art created by independent artists. Each BAYC token represents a unique ape character that comes with its traits, accessories, and background. The number of BAYC tokens is limited to 10,000, and they can only be purchased by members of the club. Due to their uniqueness and rarity, BAYC tokens are highly valuable and can fetch millions of dollars in the NFT market.

Blur, the platform where the stolen BAYC was sold, is an open marketplace built on the Ethereum blockchain. It allows users to trade a variety of assets such as ETH, ERC-20 tokens, and NFTs. However, like any other decentralized platform, Blur is susceptible to hacks and thefts.

The sale of the stolen NFT is a serious matter in the NFT community as it calls into question the security of the platform and the value of BAYC tokens. The NFT market relies on the trust of its members, and incidents like these can damage it significantly.

PeckShield Alert’s tweet serves as a warning to the community to be cautious while trading on open marketplaces. It also highlights the need for stricter security measures and regulations to prevent such thefts in the future.

In conclusion, the sale of the stolen BAYC #6396 on Blur for 67.99ETH is a significant event in the NFT market. It not only raises questions about the security of open marketplaces but also challenges the trust of NFT enthusiasts in the community. Keywords such as stolen NFT, Bored Ape Yacht Club, and Blur signify the major aspects of this event and are essential to understanding its significance.

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