NFT stoled and sold: PeckShieldAlert’s Twitter alert on BAYC # 3097

02/24/2023 22:56 • Metaverse Matters • 141 views

According to reports, PeckShieldAlert tweeted that the stolen BAYC # 3097 was sold on Blur at 16.95 ETH.

Security company: The stolen BAYC # 3097 was sold on Blur at 16.95ETH

Interpret the above information:

PeckShieldAlert’s latest tweet has raised serious concerns in the world of Non-Fungible Tokens (NFTs). The tweet suggests that the famous NFT art piece Bored Ape Yacht Club (BAYC) # 3097 has been stolen and later sold on the darknet marketplace, Blur.

Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique digital Ape NFTs created on Ethereum Blockchain. It was launched in April 2021 and quickly gained popularity among NFT collectors and art enthusiasts. The collection has since become one of the most sought-after and valuable NFTs in the market, with some pieces selling for millions of dollars.

However, this recent incident has shed light on the potential security risks involved in the NFT market. The fact that a valuable NFT like BAYC # 3097 was stolen and sold on the darknet highlights the need for better security measures for NFTs. It is also a reminder that NFTs are still a relatively new phenomenon and that the market is still evolving.

The tweet from PeckShieldAlert does not provide any details about the identity of the thief or how the NFT was stolen. However, it does reveal that the NFT was later sold on Blur at the price of 16.95 ETH. This suggests that the thief was able to quickly liquidate the stolen NFT for a significant amount of money.

The incident also raises questions about the ownership and transfer of NFTs. Since NFTs are essentially digital assets, their transfer and ownership are based on the underlying blockchain technology. However, the anonymity of blockchain also creates a potential loophole for thieves to steal and sell NFTs without any traceability.

In conclusion, PeckShieldAlert’s tweet is a reminder of the risks and challenges involved in the NFT market. The incident has raised serious concerns about the safety and security of NFTs and calls for better security measures for NFTs. It is also a reminder that NFTs are still a new and evolving market, and it will take time to develop a robust and secure framework for NFT ownership and transfer.

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