The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
Sounds like a great way to make an insurance claim on a bunch of NFTs worth “millions” that you could not convince anyone to buy.
What insurance company is dumb enough to insure NFTs?
Ones that understand the Internet and/or technology. And believe the “secure” hype.
I’d say more likely to be able to declare a capital loss on taxes.
Can I carry that loss over for the next… 100 years or so?
I never had a jpeg stolen from me.
What a time to be alive.
No no, they stole the link to a jpeg, careful you will make them angry
Here, take my link to get a feeling
https://slrpnk.net/pictrs/image/db03eae9-a3a9-42df-8cf2-f2aa8bfa2d95.webp
Another interpretation is that it’s all an insurance scam were something worthless is “stolen by hackers” and then claimed to be worth millions for the insurance claim.
But surely nobody in the “well known as impeccably honest” NFT world would ever do something like that!
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It wouldn’t be the first time that somebody who should’ve known better gets taken in by hype.
That said, I agree it’s unlikely.
“If some idiot wants to pay for it…”
I guess the millions are in the transaction fees
Just because the suckers that bought them paid millions doesn’t mean that the NFTs are worth millions.
I’m worth millions, but I’m paid jack shit :(
“Potential losses”. I get the feeling that NFT owners got bit by the same bug that bit RIAA executives.
I’m having difficulty with the word “worth”. It appears to be doing an awful lot of heavy lifting
Did they steal all NFTs?
There were sufficiently stupid people to pay money for NFTs. They will sufficiently stupid people around to pay the ransom.
Insurance scam? Not too be cynical, but after the price dropped a year(?) ago there were a number of thefts for which there was speculation about them being insurance fraud.
ITT: a handful of people starting to sweat about their NFT retirement strategy
…Been a minute since I’ve seen this fark headline meme.
Must be a real old-head if you know what fark is. me too
Can’t even read the website, as the third modal, the newsletter modal, refuses to close. Yeesh.
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Let me get this straight, you can steal an nft but you can’t own an nft?
