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Jay Chou's NFT was tragically stolen by phishing websites, why is NFT frequently stolen?

Beijing News Shell Financial News (reporter Luo Yidan) On the evening of April 1, Jay Chou posted a message on the social platform, "Just received a call, my friend in order to help me mint Huang Licheng big brother's new project, the result of the big brother sent me monkeys were stolen by the phishing website, I thought April Fool's Day was joking with me ... The result went to check it out, and it was really gone. And deliberately used the label "This is not an April Fool's Joke".

According to the picture posted by Jay Chou on the social platform, the Beijing News shell financial reporter inquired that Jay Chou's stolen "monkey" refers to the "boring ape" NFT product called BAYC #3738的 held by jay Chou. According to OpenSea data, the NFT was donated by Jay Chou's friend Huang Licheng in January this year.

Jay Chou has at least 62 NFTs stolen NFTs that have been hung on the trading platform

What is an NFT? NFT (Non-Fungible Token) Chinese translated as a non-homogeneous token, when a work of art is cast into an NFT, the work becomes a unique digital asset on the blockchain, thus having a collection value.

Among them, the "boring ape" NFT product called BAYC is mainly generated programmatically by more than 170 kinds of features (including expressions, headgear, clothing, etc.), and its other NFT product "cryptopunk" is the industry's two most well-known NFT brands, which are frequently speculated on foreign trading platforms, for example, NBA star Curry once announced that he spent 55 ETH (about 1.2082 million yuan) to buy a "boring ape".

On April 2, a search by a shell financial reporter found that Jay Chou's stolen BAYC #3738在OpenSea交易平台上并未显示售价和历史交易记录 was suspected to have been blocked; however, the NFT successfully hung up to the LooksRare trading platform, and as of 8:28 on April 2, the latest transaction price was 155ETH (about 3.4049 million yuan).

However, Jay Chou did not seem to care too much about this, he complained on the social platform, "Should I ask my big brother (Huang Licheng) for another one." ”

In fact, Jay Chou began to contact NFTs very early. Shell financial reporter inquired about the wallet address given by Huang Licheng to Jay Chou's NFT and found that there are currently 62 NFT collections in the wallet address, many of which are composed of Jay Chou's previous album covers, including "Fantasia" and "Seven Mile Fragrance".

In addition, Jay Chou's fashion brand PHANTACi also released its design and production of NFT product Phanta Bear (Phantom Bear) on January 1 this year, on December 31, 2021, Jay Chou and Kunling couple posted phantom bears on social platforms, Jay Chou said in the caption that this is "the first special gift received by brother".

NFT theft is not a case?

Shell financial reporters found that the theft of NFTs is not an isolated case.

Earlier this year, Timothy McKimmy, ceo of an iron ore company in Texas, discovered that the Boring Ape NFT he was holding under the number #3475 had been stolen and the thief resold the NFT for 99EHT on the OpenSea trading platform, and Timothy filed a lawsuit against the OpenSea trading platform in Texas federal court.

In the indictment, OpenSea was charged with negligence and breach of contract, "and the defendants did not shut down their platform to resolve and correct these security issues, but continued to operate." The defendants risked the security of their users' NFTs and digital vaults and continued to charge a 2.5% fee per transaction uninterruptedly."

On February 1, foreign netizen Larrylawliet.eth also posted on social platforms, saying, "I just lost all my boring apes and mutants of boring apes" and urgently asked for help " Who bought them?" Please contact me! In addition to asking for help from netizens, he also mentioned the NFT online trading platforms Opensea and LooksRare in the comments section, hoping to get help.

Larry said at the time that his stolen collection was resold by hackers for about 10 times as much as it was. He said that the hacker sold all of his collection for 100 EHT, but according to the scarcity and non-reproducibility of the collection, the value of his collection should be 1,000 ETH (about 21.9669 million yuan). "This hacker wants to sell them as soon as possible so their accounts aren't blocked by Opensea," Larry said.

According to Tal Be'ery, CTO of digital wallet app ZenGo, based on the data they obtained, Larry should have mistakenly clicked on a link from a dAPP (decentralized digital financial application) that actually led to a hacker's digital wallet. From this point of view, Jay Chou's theft of NFTs due to phishing websites this time is the same as Larry's case.

Some blockchain practitioners told Shell Financial Reporter that although NFTs are unique and unique, they are not non-tradable. Therefore, misleading the owner and letting the other party transfer his or her own NFT to another wallet address has become a major means of stealing the NFT.

Reporter contact email: [email protected]

Jay Chou's NFT was tragically stolen by phishing websites, why is NFT frequently stolen?
Jay Chou's NFT was tragically stolen by phishing websites, why is NFT frequently stolen?

Proofread by Zhao Lin

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