Stolen Bored Ape Yacht Club NFT Sold on OpenSea but Marked as Stolen

03/02/2023 14:07 • Tech Ticker • 135 views

According to reports, PeckShield monitoring showed that the stolen BAYC “Sewer Pass # 12097” had been sold on OpenSea at the price of 2.34 ETH, but the NFT was marked after the transaction was completed.

Stolen BAYC “Sewer Pass” # 12097 was sold in OpenSea at 2.34 ETH

Interpret the above information:

Reports were released claiming that PeckShield monitoring has discovered that one of the Bored Ape Yacht Club (BAYC) NFTs, known as “Sewer Pass #12097,” which was previously reported stolen, has been sold on OpenSea at a price of 2.34 ETH. However, the NFT has been marked as stolen after the transaction was completed.

The Bored Ape Yacht Club is an exclusive club consisting of limited edition NFTs featuring varying Bored Ape characters that serve as digital collectibles. The NFTs are unique, meaning no two NFTs are alike, and their values fluctuate regularly on the secondary market.

According to reports, the stolen NFT was sold on OpenSea, a popular NFT trading platform, at a price of 2.34 ETH. However, the transaction was marked as invalid after being completed, which raised severe concerns as to the ethics behind selling a stolen commodity.

The Bored Ape Yacht Club has been making waves in the NFT sector, experiencing exponential growth in its community and attracting big-name investments from celebrities such as Justin Bieber and Steph Curry. Additionally, the growing community has witnessed remarkable NFT sales on the platform in recent months, such as the sale of the “Bored Ape Kennel Club” for $609,000 and the “Golden Ape,” which sold for $1.5 million.

However, the NFT market has also been facing many security concerns due to hackers and the lack of regulation. As a result, it’s crucial that any stolen NFT be marked and reported as such, and subsequently, the sale of stolen NFTs should be prohibited and condemned.

In Conclusion, it’s a considerable blow to the Bored Ape Yacht Club community that one of their members’ NFTs has been stolen and later sold on OpenSea. Although the platform is a trusted platform, it’s vital that there be significant establishment of regulations and monitoring of the transactions to reduce cases of theft and fraudulent activities.

Keywords:
Bored Ape Yacht Club, NFT, stolen, OpenSea, transaction.

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