OpenSea Stolen Bored Ape | 1 Million Lawsuit To Be Faced!

OpenSea stolen Bored Apes

Every now and then, we hear about cyber-attacks taking place. Many Bored Apes were stolen from OpenSea. The question remains what happens with the OpenSea stolen Bored Apes. In this post, we will cover more about this news on OpenSea Stolen Bored Ape.

OpenSea faces $1 million lawsuits over stolen Bored Ape NFTs. An owner claims it knew about a bug that allowed ape purchases far below market value. The Ape is one of 10,000 limited edition Bored Ape Yacht Club primate NFTs and supposedly in the top 14th percentile in terms of value, McKimmy said in the lawsuit. 

We will be discussing more OpenSea stolen Bored Apes. How did the OpenSea reach it? We will also cover OpenSea freezes $2.2M of stolen Bored Apes.

So, without wasting time, let’s start with OpenSea Stolen Bored Ape.

Bored Ape Owner Files $1M Lawsuit Against OpenSea Stolen Bored Ape NFT

A man who unknowingly sold his Bored Ape NFT for 0.01 ETH (about $26) will be suing OpenSea, claiming that the platform was aware of a bug that allowed hackers to buy NFTs at a fraction of the market price. A Texas man who unwittingly sold his Bored Ape NFT for 0.01 ETH—the equivalent of around $26—issued OpenSea, alleging the platform knew about a bug that allowed hackers to buy NFTs for far below market price.

In a complaint filed in Texas federal court, Timothy McKimmy claims he is the rightful owner of Bored Ape #3475—one of a set of 10,000 highly coveted primate NFTs known as the Bored Ape Yacht Club. He claims that he did not list his Bored Ape for sale and that the NFT was “stolen,”—and that the “buyer” promptly resold it for 99 ETH ($250,000 at today’s prices).

Related: How To Mint Multiple NFTs On OpenSea | Mint Whole Collection In One Go! 

“Instead of shutting down its platform to address and rectify these security issues, Defendant continued to operate. Defendant risked the security of its users’ NFTs and digital vaults to continue collecting 2.5% of every transaction uninterrupted,” the complaint alleges in accusing OpenSea of negligence and breach of contract.

McKimmy further alleges that he has repeatedly tried to resolve the issue with OpenSea. The company, he says, told him it is “actively investigating” the incident but has failed to do anything more.

He is far from the only one in this situation. In January, OpenSea issued roughly $1.8 million in refunds to users affected by the exploit, though it remains unclear how the company handles reimbursements and determines refund amounts. McKimmy’s complaint cites chatter in NFT forums that alleges, OpenSea has been approaching other bug victims and offering them the “floor price” (the lowest-priced asset in any given NFT collection) even though their particular NFT is worth more—and only so long as they sign a non-disclosure agreement.

OpenSea did not immediately reply to a request for comment about McKimmy’s allegations.

Related: How To Sell On OpenSea Without Paying Gas Fee | Get Listed For Free

OpenSea Freezes $2.2M Of Stolen Bored Apes

OpenSea stolen Bored Apes

Art gallery owner Todd Kramer had his valuable NFT collection stolen from his hot wallet, so OpenSea froze the stolen assets worth about $2.2 million. NFT marketplace OpenSea has frozen 16 Bored Ape and Mutant Ape non-fungible tokens (NFT) after being reported stolen from a New York art gallery operator.

In total, one Clonex, seven Mutant Ape Yacht Club, and eight Bored Ape Yacht Club NFTs currently valued at about 615 ETH ($2.28 million) were stolen and cannot be traded on OpenSea.

The Apes which were frozen include:

  1. Ape 2771
  2. Ape 6416
  3. Ape 1623
  4. Ape 1708
  5. Ape 8214
  6. Ape 7528
  7. Ape 9988
  8. Ape 9410
  9. Mutants 25057
  10. Mutant 11177
  11. Mutant 28752
  12. Mutant 24718
  13. Mutant 2436
  14. Mutant 9278
  15. Mutant 2434

The freeze on buying and selling the NFTs has some traders decrying a lack of decentralization, one of the cherished aspects of the crypto industry. One Twitter commenter, kw.sol, said, “Who was able to freeze then? It feels pretty anti-crypto to be asking third parties to do this, and ideally, they shouldn’t be able to.”

On Dec. 26, NFT collector bergpay.eth said he suffered a similar fate to Kramer when 5 Jungle Freaks and 2 Sandbox NFTs were stolen from his Ethereum wallet, and his ENS domain was transferred to a new address.

Related: How To Approve WETH On OpenSea | Get Ready For The Auctions!

Wrapping Up

Here we conclude our post on OpenSea stolen Bored Ape. We have also discussed the OpenSea freezes 15 bored apes. We can say that the system is secure. Still, there are some loopholes that the hackers target. We recommend using hardware wallets for storing your NFTs and cryptos.

Keep exploring our website to know more about Bored Ape NFTs.

Frequently Asked Questions

Q1. Can OpenSea Recover Stolen NFT?

Maintaining a Safe Space for NFT Communities.

The OpenSea hack highlights security risks in Web3 and the imperative that users are well-informed about potential threats in the evolving landscape. While 3 NFTs have been recovered and will be returned by Mintable, over a million dollars worth of NFTs remain lost.

Q2. Was OpenSea Hacked?

Though initially thought to be a hack that had compromised OpenSea itself, it was determined that the theft came from a phishing attack involving emails to spread malicious links made to look as if they come from legitimate sources.

Q3. Who Bought Bored Ape?

American rapper and NFT collector Snoop Dogg bought four Bored Apes in December 2021. This included BAYC #7723 and a BAKC, and two Mutant Apes. The rapper also owns CryptoPunks, Art blocks, XCOPY, and many other high-value NFTs.

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