this post was submitted on 19 May 2025
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FTs (lemmy.world)
submitted 17 hours ago by PugJesus@lemmy.world to c/memes@lemmy.world
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[–] slazer2au@lemmy.world 97 points 17 hours ago (2 children)

I would question how an Instagram account causes nft to be stolen...... But we are on meme so let's leave it at that.

[–] vaguerant@fedia.io 108 points 16 hours ago (4 children)

They compromised the official Instagram account then phished its followers for their NFTs.

The attacker seized control of the BAYC Instagram account and sent a phishing post that many followers were fooled into clicking on, connecting their crypto wallets to the hacker’s “smart contract” – a mechanism for implementing a crypto transaction. That enabled the attacker to steal the assets held in the wallets, seizing control of four Bored Apes, as well as a host of other NFTs with an estimated total value of $3m.

https://www.theguardian.com/technology/2022/apr/26/bored-ape-yacht-club-nft-hack-theft-art-simian-oblivion

[–] lime@feddit.nu 78 points 16 hours ago (1 children)

well in that case it's fine. the blockchain is tamper-proof after all, so it must have been legitimate transfers.

[–] Passerby6497@lemmy.world 61 points 15 hours ago (1 children)

Of course, because if it’s a legitimate theft, the block chain has ways to try to shut that whole thing down.

[–] Damage@feddit.it 5 points 12 hours ago

I mean if you want steal it makes sense to target idiots

[–] jdeath@lemm.ee 10 points 16 hours ago

so nothing changed about the fungibility at all

[–] slazer2au@lemmy.world 11 points 16 hours ago

Ah, fair enough.

[–] andros_rex@lemmy.world 5 points 12 hours ago (1 children)

One of the funniest ways that these people get hacked is that you can give someone an NFT. Like it’ll show up in the wallet, no way to get rid of it. So you make a fake BoredApe or whatever other stupid JPEG, with a “smart contract” that essentially boils down to “steal everything” if the person ever interacts with it. Iirc some of the bigger name people have a bunch of these fake, toxic NFTs that they can’t interact with in any way, just hanging out in their wallet.

[–] slazer2au@lemmy.world 2 points 8 hours ago

I remember reading that because of KYC you can effectively lock people out of their crypto wallets by having your own wallet associated with something illegal and sending that person some money.

Now because the person receiving the funds doesn't know who you are, they can't prove the person sending them money is legit and therefore can't unlock their accounts.