36 BAYC and 18 MAYC tokens were successfully restored.

Tiger Global cuts stakes in Bored Monkey Yacht Club and OpenSea Holdings



Invincible Tokens (NFTs) stolen from Board Up Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) by peer-to-peer trading platform NFT Trader have been recovered following a bonus payment.

The security firm operating in the Web3 space has reported the successful acquisition of 36 Bored Ape Yacht Club (BAYC) and 18 Mutant Ape Yacht Club (MAYC) Invulnerable Tokens (NFTs) by a concerted effort of their team. Weekend hours.

36 BAYC and 18 MAYC recovered NFTs

The hack on December 16 resulted in the loss of nearly $3 million worth of NFTs. The attacker said in public messages that he initially falsely accused another user and demanded a ransom for NFTs, saying, “I'm here to take the leftovers.”

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Then the attacker proposed to return the token to the victims, 3 ETH for Bored Monkey and 0.6 ETH for Mutant Ape. But, surprisingly, they returned BoredApp with 31 ETH to the user, along with Bored Monkeys, to their owners, keeping the ApeCoin rewards.

In just one day, a community effort by Boring Security, a non-profit Web3 security project funded by ApeCoin, successfully recovered assets worth $267,000.

“The 36 BAYC and 18 MAYC that were exploited are now in our hands. We sent her 10% of the floor price sets as a bonus. We will return them with victims free of charge. Just after this coffee break… Victims, please open a dispute ticket with us and please be patient.

The recovery was facilitated by Greg Solano, co-founder of Yuga Labs, creator of the BAYC and MAYC NFT clusters, who paid a 120 Ether bonus.

According to Prince's anonymous founder, Fubar, the vulnerability led to several calls for foreign contracts after a “bad update” earlier this month. This enabled unauthorized transfers of NFTs from their owners, originating from previously authorized trading licences. Fubar mentioned that unless the licenses are revoked, there is a risk that NFTs could be stolen again.

In addition to the NFT trader hack, there have been reports of additional breaches resulting in the disappearance of Cool Cats and Squig from user wallets.

Revival of NFT market.

The NFT market has experienced a steep decline this year, further compounded by hacking incidents. However, investors are optimistic about the sector.

Japanese messaging app LINE's Web3 division has successfully raised $140 million, immediately focusing on integrating its mobile-enabled NFT platform DOSI with LINE's existing NFT marketplace, LINE NFT.

Meanwhile, Metagood, another NFT marketplace, has secured $5 million in seed funding led by Sora Ventures. Metagood's Osura marketplace is among those competing for market share in Bitcoin casual trading.

In addition, 1kx led a $3 million Series A funding round for nftperp, an NFT perpetual futures exchange that allows investors to take long or short positions on the floor of popular NFT collections.

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