A Bored Ape Yacht Club (BAYC) NFT that was allegedly stolen from Taiwanese singer Jay Chou sold for 164 ETH ($570,000) on NFT trading platform LooksRare.
The singer had last week said the NFT, BAYC #3738, was stolen with several other tokens in a phishing attack. The attack had coincided with a hack that compromised the official BAYC discord, although it was unclear if the two were related. The BAYC attack saw the theft of a Mutant Ape NFT.
On-chain data showed the token had already exchanged multiple hands since its theft on Friday. Its latest sale was at a nearly 50% profit to BAYC’s floor price.
Bored Ape on a journey
A detailed analysis by blockchain security firm Beosin showed that the ape in question had gone through at least two buyers in the hours following its theft. The first sale was for 124 wrapped ETH (WETH), while the second was for 155 WETH.
The hacker had used a popular crypto mixer, Tornado cash, to render the laundered ETH untraceable. The LooksRare account that currently holds the token appears to be a whale with several other Bored Apes in their collection. It was not immediately clear if those Apes were also pilfered goods.
Trending Stories
Stolen Bored Apes are not a new occurrence, with thefts being reported since the NFT boom in 2021. The collection is the most valuable collection by market value, which is estimated at about 1.2 million ETH, according to Coinmarketcap.com.
A landmark week for crypto heists
Last week saw the largest-ever crypto heist, where a liquidity pool belonging to popular play-to-earn game (P2E) Axie Infinity (AXS) was drained by a hacker to steal about $622 million worth of tokens. The hacker was on Monday observed moving most of the stolen tokens into Tornado Cash, after which they are likely to be untraceable.
Still, given the highly public nature of the attack, and the fact that the hacker used private, centralized exchanges to fund the attack, their identity may be traceable in the near future.
- Bitcoin Miners Likely Behind Crash Below $19K, Here’s Why
- India’s Crypto Exchanges In Trouble? 1% Tax Keeps Traders Away
- Crypto Exchange KuCoin Denies Rumours of Them Halting Exchange Withdrawals
- Elrond Price Jumps By 9% Over This Announcement
- XRP Holding Better Than Most Altcoins, Here’s Why
- Breaking: Polygon, Major Blockchains Hit With Network Attack
- New Crypto Rules In Europe: A Global Standard For Regulation?
- Third Biggest Whale Adds 1,416 Bitcoins In Last 2 Days; Will This Pump BTC?
- ‘Big Short’ Michael Burry Says Bitcoin Crash Is Only Halfway Through
- These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
