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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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  • NFT
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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    $3.62B Already Sold in 2025

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    Who Needs 280 Bitcoin Domain Names? Massive BTC Bundle Goes Up for Auction

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    Texas judge backs Logan Paul’s bid to escape CryptoZoo lawsuit

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    NFT market cap drops by $1.2B as Ether rally loses steam

    From Apes to Punks, NFTs roar back with triple the buyers

    From Apes to Punks, NFTs roar back with triple the buyers

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    Crypto Gaming Handheld Shipments Delayed Over ‘Excessive’ Import Duties

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    Why AI NFT Companion Coins Could Be the Key to NFT Market Revival

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    Google Unveils Pixel 10 Lineup With AI Features, New Watch and Earbuds

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    Immutable & Koin Games Unveil Fast-Paced, Collector-Driven Project O

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    Wilder World Launches FPS at Gamescom with Samsung Partnership and $100K Prize Pool

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    ‘Wilder World’ Launches First-Person Shooter Game With $100K Tournament

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    ‘Pirate Nation’ Ethereum RPG Shutting Down as Crypto Gaming Graveyard Grows

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    KuCoin Spotlight Launches AKEDO Token Sale to Drive AI Gaming Innovation

    KuCoin Spotlight Launches AKEDO Token Sale to Drive AI Gaming Innovation

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
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    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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Home NFT

BAYC and MAYC NFTs reclaimed after $267K bounty payment

December 18, 2023
in NFT
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BAYC and MAYC NFTs reclaimed after $267K bounty payment
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In a remarkable turnaround, all stolen Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) nonfungible tokens (NFTs) have been recovered following a major security breach on the peer-to-peer trading platform NFT Trader. The incident on December 16 resulted in the theft of NFTs valued at nearly $3 million. However, thanks to the swift action of Boring Security, a non-profit Web3 security project backed by ApeCoin, these digital assets were secured within 24 hours.

READ ALSO

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The recovery operation involved a bounty payment of 120 Ether (ETH), equivalent to approximately $267,000 at the time of the transaction. Greg Solano, co-founder of Yuga Labs and creator of BAYC and MAYC NFT collections, spearheaded this strategic move. His involvement was crucial in the negotiation process, ultimately leading to the return of the NFTs to their rightful owners at no additional cost.

NFT trader hack exposes smart contract flaws

The attack was linked to a vulnerability in a smart contract, which had been updated 11 days before the incident. This upgrade inadvertently introduced a flaw related to a multicall feature, allowing unauthorized transfers of NFTs. The hacker, leveraging previously granted trading permissions, executed the theft. The vulnerability was pinpointed by “Foobar,” a pseudonymous founder and developer of Delegate, who played a vital role in assisting the Non-Fungible Tokens Trader’s team to halt the attack swiftly after its discovery.

In response to this security breach, there have been urgent calls for users to revoke all permissions granted to two specific old contracts identified as potential risks. These contracts, listed as 0xc310e760778ecbca4c65b6c559874757a4c4ece0 and 0x13d8faF4A690f5AE52E2D2C52938d1167057B9af, pose a continued threat. If approvals are not revoked, the stolen NFTs could be compromised again.

See also  NFTs are here to stay — just not as we once knew them

This incident has shed light on the persistent vulnerabilities within the NFT space and the need for heightened security measures. The successful recovery of the stolen assets underscores the importance of rapid response and effective crisis management in the digital asset domain. Moreover, it highlights the collaborative efforts between various entities within the Non-Fungible Tokens ecosystem, from developers to platform owners and community initiatives, in safeguarding assets and maintaining trust.

The incident serves as a wake-up call for the Non-Fungible Tokens community to prioritize security and remain vigilant against potential exploits. It also stresses the need for continuous monitoring and updating of smart contracts to prevent similar occurrences in the future. As the NFT market continues to evolve, ensuring the security of digital assets remains a top priority for creators and investors alike.

Tags: 267KBAYCbountyMAYCNFTsPaymentreclaimed

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