BAYC Holder Gets Scammed Hours After Buying NFT

NFT Holder Gets Scammed Out of $116,000 Hours After Buying It

Twitter user ZachXBT revealed that BAYC NFT owner fell victim to a theft that drained $116,000.

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According to ZachXBT, the NFT was quickly sold after the theft before the thief went on to perform a cross-chain swap on RenBridge.

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A cross-chain bridge could be used to hide crypto transactions.

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RenBridge so far has been used to launder at least $540 million in crypto assets originating from criminal activity since 2020.

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The theft and subsequent flipping of Bored Apes have increased exponentially.

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As per Chainalysis data, the total cryptocurrency scam revenue for 2022 is currently at $1.6 billion.

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Earlier this year, a BAYC holder lost NFTs worth over $5.7 million in Direct Swap scams.

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