Earlier today, Bored Ape holder ‘s27’ lost their Bubble gum Bored Ape NFT and corresponding mutant Apes. Using the available data, we estimate the total cost of these NFTs at over 550 thousand dollars.
This latest scam targets NFT holders by offering them a deal that is too good to be true. In a thread by @0xQuit on Twitter, he broke down how this robbery occurred.
How did this Bored Ape NFT get scammed?
@oxquit was the first to notice this half-million-dollar robbery, as he tracks Ape listings under floor prices. Unfortunately, an NFT listing under the floor price often means a compromised wallet because the person wants to get rid of the NFTs quickly. This time, it was someone targeting this unlucky Bored Ape NFT holder.
In this instance, s27 was using an NFT trading app called Swap.Kiwi. As @oxquit rightly says, there is nothing wrong with the contract. However, there are flaws in the UI/UX. Because of this and other factors, it was easy for the scammer to operate.
This criminal added verified green ticks to their own images, giving his swap proposal a hint of authenticity. So, s27 swapped his Bored Ape NFTs believing he was trading in return for legitimate BAYC NFTs. Obviously, it was not, and they received worthless NFTs whilst the scammer got half a million dollars worth of NFTs.
Swap.Kiwi needs to address this and make it harder for people to get away with scams like this and bypass their verification rules. Unfortunately for this Bored Ape NFT holder, it is too late.
Finally, remember that NFT security is paramount to keeping your NFT and crypto funds safe. Follow people in the NFT community like @oxquit, highlighting these issues. Keep up to date with the latest scams and do your research before taking part in any trades.
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All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
