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š NFT Security 101 ā Staying Safe From Hackers
Welcome back to the Airdrop, call the family members you told to buy crypto on Thanksgiving and Christmas and let them know we are all down bad.
Welcome back to the Airdrop, call the family members you told to buy crypto on Thanksgiving and Christmas and let them know we are all down bad.
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Here's what we have for you today:
š NFT Security 101 ā Staying Safe From Hackers
š Opensea Delists 6k Bayc Nfts
š NFT Market Statistics
NFT Security 101 ā Staying Safe From Hackers
Discord, Twitter, Opensea, Your wallet ā Nowhere is safe from hackers.
As you probably already know, hacker activities in the NFT space are ATH. The volume of hacks thatās occurred recently has been alarming. Last week, there were at least three hack attacks in the NFT space!
Unfortunately, the hacks arenāt flukes. The crypto space is becoming more dangerous, and scammers are getting more creative by the day.
Sadly, while the hackers seem to be getting better at their thing, it doesnāt seem like the existing systems are getting any better at protecting usersā assets (Theyāve let us down too many times). So, it falls to you to take active steps in keeping your properties safe.
Alright, letās look at some safe practices to safeguard your assets from hack attacks.
First, verify anything and everything about NFTs that you find. Verify all links before clicking them. Never for any reason click on random or broken links. It doesnāt matter if reputable figures posted the links; verify them before doing anything.
More importantly, delete links from unknown sources immediately, donāt give your curiosity a chance to do something you may regret.
In addition, verify the contract address before minting. The contract address specifies where the NFT will be minted. So check for the address on Opensea; if itās verified there, it should be legit. But if it looks too good to be true, itās probably very bad.
Never give out your recovery phrase. We honestly donāt know why anyone will ever do something like this. But people do it anyway, and that doesnāt mean they put the āUPIDā in āSTUPID.ā
So, whatever you do, never share your seed phrase with anyone. And keep them offline, not on your phone, email, or any digital space. KEEP THE D##N PHRASE OFFLINE! (Sorry, we didnāt mean to raise our voice)
Use burner wallets for unverified transactions. Always have a separate empty wallet for checking out offers that you havenāt confirmed their legitimacy yet.
Turn off Discord DMs. Scammers like to private-chat their targets.
Use unique passwords for all your accounts.
Enable two-factor authentication on your accounts
Consider using a hardware wallet. We recommend the ledger nano x
Always direct your queries to official authorities in your NFT communities.
And finally, always DYOR!
A brief lapse in judgment is all it takes for a scammer to get the information they need to pull off a heist on your assets. So always stay vigilant!
But how do you protect yourself against what you donāt recognize? Unless youāre the U.S Military in the movie āBattle: Los Angeles.ā (Spoiler pretty much all of them died) You canāt protect against unknown threats. So, below are some of the common scams in the NFT space.
Fake trading links leading to malicious pages. You can spot this by checking for a misspelling of an original website name or an incorrect domain, e.g., Opensae instead of Opensea, or Opeasea.com instead of Opensea.io.
Fake user support agent claiming there are issues with your wallet and they need information from you to resolve it.
Fake mint scams. The best way to identify this is through the source. If a mint announcement isnāt from an official source, itās probably fake.
Social media hacks. Scammers compromising the official social media channels of projects and pulling off heists through it is becoming more commonplace (Discord and Twitter catch your sub!)
Airdrop scams. Scammers can airdrop assets into your wallet to get your attention. Donāt interact with any unknown drops until youāve verified their origins to be safe.
Opensea Briefly Delists 6K BAYC NFTs ā Claims it was a Mistake
Imagine waking up knowing the bear raids on the crypto market are far from over, then you check whatās left of your portfolio only to discover the marketplace has removed one of your most prized assets. Uh Oh, someoneās about to lose their Sh#t.
Well, thousands of apes found themselves in that situation briefly yesterday as it seemed Ryder Rips and his #BurnBAYC buddies would get their wish. Alas! Opensea had removed 6000 BAYC NFTs from their listings. The apes were going delirious; RR must have been feeling victorious, and we? Well, we were curious. (Slim Shady would be so proud of these rhymes)
When did this happen?
Well, we canāt tell the exact time Opensea delisted the items. However, BAYC NFT holder @economist was the first to publicize the issue. He checked his portfolio (Donāt ask us why. We donāt know either), but all he found was the dreaded āOpenseaās Banishment Decreeā (we came up with that) reading, āAn Item You Own Has Been Delisted.ā
Expectedly, his announcement sent pretty much every other ape scrambling to Opensea to see the status of their NFTs. And for a while, the BAYC opensea profile displayed ā4.0kā items instead of 10k. Someone said the remaining 6k probably went to take a quick dip in the Opensea (But apes canāt swim. Maybe they had floaters).
Anyway, the ape heroes werenāt gonna sit around and watch their comrades drown. So they stepped in and saved the day (Sorry, RR). A few hours after @economistās announcement, the BAYC team addressed the community in a tweet, explaining that it was a mistake and the issue had been resolved with Opensea.
But as usual, events like this donāt go out without people raising speculations. While the popular opinion is that it was a system glitch or mistake from Opensea, some people believe it happened due to BAYCās legal case against Ryder Ripps. Thereās no removing RR from this conversation, is there?
None of that matters much anymore, as the items have since been relisted, and all the apes are back where they ought to be now.
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