Most of the funds stolen were from a single wallet, with $751,321.80 in USDC drained from the malicious link.
What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
Despite the latest FTX-related crisis, Solana still has what it takes to win the layer-1 race, according to the head of strategy at the Solana Foundation, Austin Federa.3761
NFT trademark filings by companies aren’t just a marketing stunt. According to a trademark lawyer, they have to use what’s in the application.5043
Developers of the nonfungible tokens had halted minting on Jan. 25 in response to user complaints.6214
- Music meets the metaverse in cross-genre release by The Avila Brothers, Snoop Dogg and Billy Ray Cyrus
Web3 opens the door for fans to connect with their favorite artists in a setting, slightly more impressive than an early 2000s chatroom.16571
The lawyer leading the legal team highlighted that this is not an isolated case and alleged that OpenSea ignores issues in some instances.5033
Among the nonfungible tokens (NFTs) stolen from the PROOF co-founder were 25 Chromie Squiggles and one Autoglyph NFT.10446
Lawyers believe that NFT court orders could help reach defendants that cannot be contacted using ordinary means.7430
Metaverse platform Animal Concerts, Cointelegraph, The Avila Brothers, Billy Ray Cyrus and Snoop Dogg are celebrating blue-collar workers with a new NFT collection.3562
Nifty Gateway was founded in 2018 and acquired by Gemini in 2019.3217
Porsche’s first foray into NFTs appears to have flopped after recording underwhelming sales and was heavily criticized by the community.4686
Solana’s usage data and ecosystem development do not support the recent bullish rally, raising the probability of a SOL price correction.6701
Apple’s rumored VR headset launch appeared to fuel a sharp rally in metaverse tokens, but data suggests that the momentum is unsustainable.4469
A new survey from CoinWire revealed that the majority of users believe the metaverse will reshape their social life and interactions.4663
While the concept of stealth addresses appears complex in theory, Buterin previously described it as a “low-tech approach” compared to other Ethereum privacy solutions.12339