🖼 NFT Trader Suffers $3 Million Loss In Multiple Attacks – Details
NFT Trader, a peer-to-peer non-fungible token trading platform, has suffered a set of multiple exploits leading to multi-million dollar losses in users’ assets. The incident occurred on December 16, with the bad actors carting away $3 million worth of tokens, including 13 Mutant Ape Yacht Club, 37 Bored Ape, some VeeFriends, and World of Women NFTs. NFT Trader has since confirmed the attack via an X post advising users to revoke access to some of its old smart contracts. NFT Trader hackers shared a message in which he attributed the origin of the exploits to another attacker. In this message, the hacker claims to be a scavenger who came “for the leftover trash.” The exploiter claims to have just realized the high value of NFTs. They also admitted to having limited technical skills and are open to returning the stolen NFTs to users in return for a 10% bounty paid in Ether (ETH), which represents 3 ETH per Bored Ape and 0.6 ETH per Mutant Ape Yacht. However, in another puzzling development, a victim of the NFT Trader exploit claims the same hacker has now returned some of the loot, including 31 ETH and a rare NFT, albeit holding on to the Apecoin rewards.
NFT Trader, a peer-to-peer non-fungible token trading platform, has suffered a set of multiple exploits leading to multi-million dollar losses in users’ assets. The incident occurred on December 16, with the bad actors carting away $3 million worth of tokens, including 13 Mutant Ape Yacht Club, 37 Bored Ape, some VeeFriends, and World of Women NFTs. NFT Trader has since confirmed the attack via an X post advising users to revoke access to some of its old smart contracts. NFT Trader hackers shared a message in which he attributed the origin of the exploits to another attacker. In this message, the hacker claims to be a scavenger who came “for the leftover trash.” The exploiter claims to have just realized the high value of NFTs. They also admitted to having limited technical skills and are open to returning the stolen NFTs to users in return for a 10% bounty paid in Ether (ETH), which represents 3 ETH per Bored Ape and 0.6 ETH per Mutant Ape Yacht. However, in another puzzling development, a victim of the NFT Trader exploit claims the same hacker has now returned some of the loot, including 31 ETH and a rare NFT, albeit holding on to the Apecoin rewards.
🖼 NFT sales decline, Solana surpasses Ethereum’s volume
Investor interest in non-fungible tokens (NFTs) has declined significantly for the first time since early November. Despite the market downturn, Solana (SOL) became the second-largest network for the asset class. According to data provided by CryptoSlam, the global NFT sales volume witnessed a 42% plunge in the past 24 hours, falling to $64.3 million. The total number of NFT transactions also declined by 21%, closing down to the 350,000 mark. The notable plunges come three days after the NFT sales volume hit a 20-month-high of $132.3 million on Dec. 15 — a level last seen in mid-May 2022. Per CryptoSlam data, while the amount of wash trades declined by 16.5% — currently standing at $6.5 million — the number of wash transactions witnessed a significant surge of 90.7%, surpassing the 30,000 mark in a day. Ethereum has been dominating the NFT scene since the creation of digital collectibles until the Bitcoin (BTC) Ordinals arrived, making Ethereum take the second spot. However, CryptoSlam data shows that Solana surpassed Ethereum by a slight difference, becoming the second-largest blockchain for NFTs with a 24-hour trading volume of $9.58 million.
Investor interest in non-fungible tokens (NFTs) has declined significantly for the first time since early November. Despite the market downturn, Solana (SOL) became the second-largest network for the asset class. According to data provided by CryptoSlam, the global NFT sales volume witnessed a 42% plunge in the past 24 hours, falling to $64.3 million. The total number of NFT transactions also declined by 21%, closing down to the 350,000 mark. The notable plunges come three days after the NFT sales volume hit a 20-month-high of $132.3 million on Dec. 15 — a level last seen in mid-May 2022. Per CryptoSlam data, while the amount of wash trades declined by 16.5% — currently standing at $6.5 million — the number of wash transactions witnessed a significant surge of 90.7%, surpassing the 30,000 mark in a day. Ethereum has been dominating the NFT scene since the creation of digital collectibles until the Bitcoin (BTC) Ordinals arrived, making Ethereum take the second spot. However, CryptoSlam data shows that Solana surpassed Ethereum by a slight difference, becoming the second-largest blockchain for NFTs with a 24-hour trading volume of $9.58 million.
🇨🇳 LinkNFT Revolutionizes Hong Kong’s Digital Sphere in China Mobile’s Bold Move
LinkNFT serves as a catalyst in China Mobile’s mission to seamlessly integrate advanced blockchain technologies into everyday life. Beyond its role as an NFT marketplace, LinkNFT envisions becoming a gateway to an evolved digital society, effectively bridging the gap between the physical and virtual worlds. The platform, grounded in simplicity and innovation, lays the foundation for Hong Kong’s digital transformation. At the core of LinkNFT lies its capability to seamlessly merge various digital asset domains, including SocialFi, DeFi, and GameFi. Utilizing CMChain’s cross-chain standard components, the platform facilitates the creation, transaction, and circulation of digital assets across multiple chains. The integration of a cross-chain service agreement, adapter, and smart contract association chain highlights LinkNFT’s technical prowess. A crucial element enhancing user experience is the LinKey digital wallet, an integral part of China Mobile Hong Kong’s exclusive offering, MyLink. This wallet empowers residents to efficiently manage their digital assets, encompassing Ethereum assets from platforms like Opensea.
LinkNFT serves as a catalyst in China Mobile’s mission to seamlessly integrate advanced blockchain technologies into everyday life. Beyond its role as an NFT marketplace, LinkNFT envisions becoming a gateway to an evolved digital society, effectively bridging the gap between the physical and virtual worlds. The platform, grounded in simplicity and innovation, lays the foundation for Hong Kong’s digital transformation. At the core of LinkNFT lies its capability to seamlessly merge various digital asset domains, including SocialFi, DeFi, and GameFi. Utilizing CMChain’s cross-chain standard components, the platform facilitates the creation, transaction, and circulation of digital assets across multiple chains. The integration of a cross-chain service agreement, adapter, and smart contract association chain highlights LinkNFT’s technical prowess. A crucial element enhancing user experience is the LinKey digital wallet, an integral part of China Mobile Hong Kong’s exclusive offering, MyLink. This wallet empowers residents to efficiently manage their digital assets, encompassing Ethereum assets from platforms like Opensea.
🖼 Metaplex introduces fully immutable NFTs and inscriptions on Solana
Solana-based NFT protocol Metaplex is looking to launch a new inscriptions standard on the Solana blockchain. The crypto industry has witnessed a spike in inscriptions, partly driven by what the market has learnt from Bitcoin’s Ordinals. As the BRC-20 tokens soared, the embedding of texts, images and audio among other details onto tokens across the ecosystem. The trend seems to be just getting started despite recent commentary about BRC-20 and its threats to the Bitcoin network. “Metaplex Inscriptions allow you to store an asset’s metadata and media fully on Solana, removing any external trust assumptions and unlocking greater composability for on-chain attributes and smart contracts,” the platform noted in a post on X. “The Engraver adds an extra layer of security that prevents any changes from ever being made to Engraved NFTs, regardless of whether the originating program is immutable,” Metaplex wrote. The price of Metaplex (MPLX) was soaring following the news, trading to highs of $0.28. Data on CoinGecko showed MPLX price had gained over 55% in the past 24 hours. Combined with recent upside momentum, Metaplex has jumped over 300% since mid-November.
Solana-based NFT protocol Metaplex is looking to launch a new inscriptions standard on the Solana blockchain. The crypto industry has witnessed a spike in inscriptions, partly driven by what the market has learnt from Bitcoin’s Ordinals. As the BRC-20 tokens soared, the embedding of texts, images and audio among other details onto tokens across the ecosystem. The trend seems to be just getting started despite recent commentary about BRC-20 and its threats to the Bitcoin network. “Metaplex Inscriptions allow you to store an asset’s metadata and media fully on Solana, removing any external trust assumptions and unlocking greater composability for on-chain attributes and smart contracts,” the platform noted in a post on X. “The Engraver adds an extra layer of security that prevents any changes from ever being made to Engraved NFTs, regardless of whether the originating program is immutable,” Metaplex wrote. The price of Metaplex (MPLX) was soaring following the news, trading to highs of $0.28. Data on CoinGecko showed MPLX price had gained over 55% in the past 24 hours. Combined with recent upside momentum, Metaplex has jumped over 300% since mid-November.
Starbucks Korea Brewing Up Digital Buzz with NFT Extravaganza in January!
Starbucks Korea is taking a leap into the NFT realm on the Polygon blockchain next month, turning your daily caffeine fix into a digital masterpiece!
In a bid to promote eco-friendly practices, Starbucks Korea introduces "eco-stamps" as part of its loyalty program. Collect these stamps with every purchase of selected drinks and unlock limited-edition NFTs crafted in collaboration with Print Bakery and NFT artist DADAZ.
Starbucks Korea is taking a leap into the NFT realm on the Polygon blockchain next month, turning your daily caffeine fix into a digital masterpiece!
In a bid to promote eco-friendly practices, Starbucks Korea introduces "eco-stamps" as part of its loyalty program. Collect these stamps with every purchase of selected drinks and unlock limited-edition NFTs crafted in collaboration with Print Bakery and NFT artist DADAZ.
🖼 China Vows to Clarify Web3, NFT Development Path
China plans to release a Web3 strategy document to clarify the path forward for the industry,The strategy document would handle the issues of inheritance, innovation, security and government obligations, the department, along with the Chinese Academy of Sciences, and the China Association for Science and Technology, said. Plus, the ministry plans to strengthen interaction between relevant departments to promote Web3 innovation, deploy further research and strengthen talent in the industry. Despite China’s ban on crypto, its citizens have still been turning to non-fungible tokens (NFTs) and the Ministry of Science and Technology said it places “great importance to the development of Web3 industry.” Already a number of Web3 initiatives have taken place in China. The technology ministry, along with the Cyberspace Administration of China, has released a series of policy documents such as the “Guiding Opinions on Accelerating the Application of Blockchain Technology and Industrial Development” and the “Blockchain Information Service Management Regulations.”. Plus, the Cyberspace Administration of China, the Propaganda Department of the Central Committee.
China plans to release a Web3 strategy document to clarify the path forward for the industry,The strategy document would handle the issues of inheritance, innovation, security and government obligations, the department, along with the Chinese Academy of Sciences, and the China Association for Science and Technology, said. Plus, the ministry plans to strengthen interaction between relevant departments to promote Web3 innovation, deploy further research and strengthen talent in the industry. Despite China’s ban on crypto, its citizens have still been turning to non-fungible tokens (NFTs) and the Ministry of Science and Technology said it places “great importance to the development of Web3 industry.” Already a number of Web3 initiatives have taken place in China. The technology ministry, along with the Cyberspace Administration of China, has released a series of policy documents such as the “Guiding Opinions on Accelerating the Application of Blockchain Technology and Industrial Development” and the “Blockchain Information Service Management Regulations.”. Plus, the Cyberspace Administration of China, the Propaganda Department of the Central Committee.
🖼 Tackling NFT Theft With the Three Address Protocol
The NFT community has long been plagued by NFT thefts, with high-profile cases often involving losses of digital assets worth hundreds of thousands, even millions of dollars. These incidents illustrate the pressing need for enhanced security measures in the management of NFTs. In response, prominent NFT collector, advocate, and X personality punk6529 proffered a novel solution called The Three Address Protocol (TAP), offering a systematic approach to safeguarding these valuable digital assets. Recently another X user, Inflatablebag, extrapolated on punk6529’s initial TAP concept, positing that TAP should be adopted as an industry standard. For those unfamiliar with TAP, at its core, TAP involves the use of three distinct types of Ethereum addresses to manage NFTs: the Vault, the Transaction, and the Minting address. Each address serves a specific purpose, creating layers of security that significantly mitigate the risk of phishing and theft. TAP’s strength lies in its simplicity and adaptability to any wallet setup, including for beginners with software wallets. By segregating activities into these three addresses, users ensure that their valuable NFTs are never compromised by phishing sites or wallet drainers. Notably, TAP’s effectiveness is independent of the wallet’s type, whether it’s a software wallet or a hardware wallet.
The NFT community has long been plagued by NFT thefts, with high-profile cases often involving losses of digital assets worth hundreds of thousands, even millions of dollars. These incidents illustrate the pressing need for enhanced security measures in the management of NFTs. In response, prominent NFT collector, advocate, and X personality punk6529 proffered a novel solution called The Three Address Protocol (TAP), offering a systematic approach to safeguarding these valuable digital assets. Recently another X user, Inflatablebag, extrapolated on punk6529’s initial TAP concept, positing that TAP should be adopted as an industry standard. For those unfamiliar with TAP, at its core, TAP involves the use of three distinct types of Ethereum addresses to manage NFTs: the Vault, the Transaction, and the Minting address. Each address serves a specific purpose, creating layers of security that significantly mitigate the risk of phishing and theft. TAP’s strength lies in its simplicity and adaptability to any wallet setup, including for beginners with software wallets. By segregating activities into these three addresses, users ensure that their valuable NFTs are never compromised by phishing sites or wallet drainers. Notably, TAP’s effectiveness is independent of the wallet’s type, whether it’s a software wallet or a hardware wallet.
🔫 Metaverse Firm Improbable Sold Gaming Unit MPG to Keywords Studios for Nearly $100M
Metaverse technology firm Improbable sold its gaming unit to videogame developer Keywords Studios (KWS) for 76.5 million British pounds ($97 million), the firm said on Monday Improbable, backed by Andreessen Horowitz (a16z) and SoftBank’s Vision Fund 2, closed the sale of The Multiplayer Group (MPG) on Sunday, according to a CNBC report. The metaverse firm had raised more than $600 million in previous funding rounds. MPG has 360 people spread across 34 countries, and its major clients include gaming giants Activision Blizzard, Bethesda, Zenimax, Epic and 2K. Improbable bought MPG in 2019 for 30 million pounds, the firm said. Last year, Improbable raised a $150 million round led by a16z, SoftBank, with participation from Digital Currency Group, Mirana Ventures, SIG, Ethereal Ventures and CMT Digital. The metaverse firm had raised more than $600 million in previous funding rounds. Improbable closed the sale of The Multiplayer Group on Sunday. Improbable, backed by Andreessen Horowitz (a16z) and SoftBank’s Vision Fund 2, closed the sale of The Multiplayer Group (MPG) on Sunday, according to a CNBC report.
Metaverse technology firm Improbable sold its gaming unit to videogame developer Keywords Studios (KWS) for 76.5 million British pounds ($97 million), the firm said on Monday Improbable, backed by Andreessen Horowitz (a16z) and SoftBank’s Vision Fund 2, closed the sale of The Multiplayer Group (MPG) on Sunday, according to a CNBC report. The metaverse firm had raised more than $600 million in previous funding rounds. MPG has 360 people spread across 34 countries, and its major clients include gaming giants Activision Blizzard, Bethesda, Zenimax, Epic and 2K. Improbable bought MPG in 2019 for 30 million pounds, the firm said. Last year, Improbable raised a $150 million round led by a16z, SoftBank, with participation from Digital Currency Group, Mirana Ventures, SIG, Ethereal Ventures and CMT Digital. The metaverse firm had raised more than $600 million in previous funding rounds. Improbable closed the sale of The Multiplayer Group on Sunday. Improbable, backed by Andreessen Horowitz (a16z) and SoftBank’s Vision Fund 2, closed the sale of The Multiplayer Group (MPG) on Sunday, according to a CNBC report.
FTX's bankruptcy proceedings aim to value customer claims based on November 11, 2022 Bitcoin rates ($16,871).
Those receiving cash for their Bitcoin at about a third of the current value have until January 11 to object in writing.
Those receiving cash for their Bitcoin at about a third of the current value have until January 11 to object in writing.
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🖼 Yuga Labs unveils CryptoPunks721 wrapper to simplify NFT trading
Bored Ape developer Yuga Labs has rolled out a new wrapper for the CryptoPunks collection to ease trades on marketplaces. According to an X thread by Yuga Labs‘ smart contract developer, 0xQuit, the newly introduced CryptoPunks721 wrapper operates on a permissionless basis and utilizes Larva Labs‘ PunksData smart contract for on-chain metadata. The primary objective behind developing the new wrapper is to streamline the trading of NFTs. The primary objective behind developing the new wrapper is to streamline the trading of NFTs from the CryptoPunks collection, originally minted in 2017, predating the widespread acceptance of the ERC-721 standard in January 2018. As noted by 0xQuit, the original NFTs from the CryptoPunks collection necessitate wrapping before being eligible for sale on key marketplaces. Wrapping involves creating a cloned token with equivalent value, while a custodian securely holds the original token. This process involves multiple transactions, resulting in high operational costs. The introduction of the CryptoPunks721 wrapper aims to address these limitations by enabling both wrapping.
Bored Ape developer Yuga Labs has rolled out a new wrapper for the CryptoPunks collection to ease trades on marketplaces. According to an X thread by Yuga Labs‘ smart contract developer, 0xQuit, the newly introduced CryptoPunks721 wrapper operates on a permissionless basis and utilizes Larva Labs‘ PunksData smart contract for on-chain metadata. The primary objective behind developing the new wrapper is to streamline the trading of NFTs. The primary objective behind developing the new wrapper is to streamline the trading of NFTs from the CryptoPunks collection, originally minted in 2017, predating the widespread acceptance of the ERC-721 standard in January 2018. As noted by 0xQuit, the original NFTs from the CryptoPunks collection necessitate wrapping before being eligible for sale on key marketplaces. Wrapping involves creating a cloned token with equivalent value, while a custodian securely holds the original token. This process involves multiple transactions, resulting in high operational costs. The introduction of the CryptoPunks721 wrapper aims to address these limitations by enabling both wrapping.
