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NFT Trader Platform Breached, Leading to Multi-Million Dollar NFT Theft

by BlockNews.com Team
December 16, 2023
in Breaking News, Business, Crypto
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NFT Trader Platform Breached, Leading to Multi-Million Dollar NFT Theft

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  • NFT marketplace NFT Trader suffered a security breach that allowed hackers to steal millions in rare NFTs like Mutant Apes and Bored Apes
  • The hack targeted old smart contracts; the attacker then requested a 10% ransom in ETH to return the stolen NFTs
  • In an unusual turn, one victim said the hacker returned their NFT along with over $70K in ETH

Trading platform NFT Trader suffered a security breach on Dec. 16, allowing hackers to steal millions of dollars worth of NFTs.

Hack Targets Old Smart Contracts

NFT Trader confirmed the incident on Twitter, saying the attack targeted old smart contracts and urging users to revoke delegations to two addresses, 0xc310e760778ecbca4c65b6c559874757a4c4ece0 and 0x13d8faF4A690f5AE52E2D2C52938d1167057B9af.

🚨 NEWS: Peer-to-peer NFT platform 'NFT Trader' experienced a breach resulting in $3 million of lost NFTs

— BlockNews.com (@blocknewsdotcom) December 16, 2023

Rare Apes and Other Valuable NFTs Taken

Among the NFTs stolen are at least 13 Mutant Ape Yacht Club and 37 Bored Ape tokens as well as VeeFriends and World of Women NFTs, making up to losses of nearly $3 million according to Revokecash.

Hack Followed by Misinformation

The hack was followed by rumors and misinformation on social media platforms. In addition, it’s still unclear how many hackers exploited the security flaw. In a public message, one of the attackers attributed the original exploit to another user, writing “I came here to pick up residual garbage.”

Attacker Requests Ransom for Return of NFTs

The attacker then claimed to have limited technical skills and proposed victims pay a 10% bounty in Ether (ETH) in exchange for their NFTs back, saying “If you want the monkey nft back then you need to pay me a bounty which is what I deserve.”

Victim Says Attacker Returned NFT and ETH

In another atypical development, one of the victims said the attacker returned a rare NFT along with 31 ETH worth nearly $70,680 at the time of writing. “And now the hacker just sent me 31 eth. What in the world is going on? Is this real life,” the victim wrote on Twitter.

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