NFT Trader loses about $3 million in hack

Unknown attackers targeted the old smart contracts of the P2P platform NFT Trader and made off with non-fungible tokens. The project team confirmed the incident.

??We’ve suffered an attack on old smart contracts, please remove the delegation using https://t.co/zEMgK96nP to the following addresses:
-0xc310e760778ecbca4c65b6c559874757a4c4ece0
-0x13d8faF4A690f5AE52E2D2C52938d1167057B9af

— NFT Trader (@NftTrader) December 16, 2023

Revoke Cash analysts estimated losses at about $3 million. The majority of the damage consisted of NFTs from the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) collections.

Statement from NFT Trader:

Looks like losses are close to $3M, mostly Bored Apes and Mutant Apes.https://t.co/DRSKcawa7n

— Revoke.cash (@RevokeCash) December 16, 2023

Later an unknown reported about returning the stolen NFTs for a 10% reward. According to him, the original hacker was another user.

«I am a good person. The value of these NFTs is enough for a life of freedom, but that does not concern me. I prefer to collect scraps. […] If you want to return the NFT, pay me the reward I deserve», — he wrote.

After this DAO Boring Security reported the return of 36 BAYC and 18 MAYC. Those affected by the hack will have their tokens returned to them for free. The team paid 10% of the value for them.

All 36 BAYC and 18 MAYC that the exploiter had are now in our possession.

We sent her 10% of the floor price of the collections as bounty. We will be working with the affected victims getting them back to them free of charge.

Right after this coffee break…

Victims please…

— Boring Security (@BoringSecDAO) December 17, 2023

Earlier a U.S. district court ordered the creators of “fake” BAYC to pay Yuga Labs compensation in the amount of $1.6 million.

As reported, in October the studio behind the popular NFT collections announced that it would cut staff and focus on the metaverse Otherside.

In July, the rare BAYC NFT #3953 was sold for 200 ETH (about $372,000 at the time of the deal), far below peak levels.

In August, BAYC NFT #8585 was purchased for a record-low 153 ETH (about $254,000). The asset lost about 80% of its value in 11 months.