Nfts
A user just lost $240,000 in NFTs on the Blur marketplace
An unfortunate user was robbed of hundreds of thousands of dollars worth of non-fungible tokens in a sophisticated phishing scam on the Blur marketplace.
The loss, reported by 0xExit on X, formerly Twitter, involved six Bored Ape Yacht Club NFTs, 40 Beanz, and three Elementals, all listed at one wei each — effectively zero.
Based on the current floor prices of each asset, the total sum comes to approximately $239,676. Wei is the smallest unit of ether on the Ethereum blockchain.
The scam was orchestrated by an unknown entity, which exploited a flaw in Blur’s listing system to enable private sales, 0xQuit, a Solidity developer and auditor, said in a statement. separate post.
Despite Blur’s standard policy of not supporting private listings, the scammer managed to manipulate the NFTs’ royalty parameters, circumventing the public accessibility requirement.
Typically, if a scammer tricks someone into listing an NFT for next to nothing, automated bots will quickly buy it up for a higher fee, leaving the scammer empty-handed.
To counter this, scammers are now tricking people into selling NFTs at high prices, with all profits going to the scammer’s address, 0xQuit said.
The scammers do this by setting a rule that cancels any transaction if they don’t try to buy it, effectively making the sale private.
This tactic ensures that only the scammer can complete the transaction, preventing others from intercepting the low-cost listings, 0xQuit said.
Quit then explained that the scam involves tricking the victim into signing something on a phishing website, usually via a spoof Twitter account advertising a free mint or airdrop verifier.
NFT scams have become a constant headache for markets and users alike following the surge in popularity of these assets in late 2020 and early 2021.
In rare cases, this has led authorities to track down those responsible for stealing millions of dollars.
Last month, three British nationals were accused of orchestrating a $3 million scam in 2021 related to the “Evolved Apes” NFT collection.
Blur did not immediately respond to a request for comment.