They contend that the handling is “anti-crypto,” according to some and that OpenSea’s security was inadequate.

OpenSea is the most popular NFT platform on the market, with hundreds of thousands of users and a high volume of trade. The theft of these NFTs raises concerns about the safety of other NFTs on the platform. There has been little information about how the NFTs were taken, and the platform has yet to issue an official statement.

Meanwhile, over at the Phunky Ape Yacht Club, there’s a bit of a disagreement over OpenSea (PAYC). This NFT series was banned by the NFT platform because it was based on the NFTs of the Bored Ape Yacht Club. PAYC is nearly identical to BAYC, with the exception that it is mirrored.

Because of the NFT’s copying, the community has been debating the finer points of plagiarism.

While the NFT community was often unsympathetic to the trader’s plight, OpenSea froze trading on the stolen items.

@gidwellsoon @Tob_Opensea @j1mmy I have been hacked. Please Help

Ape 2771 Ape 6416 Ape 1623 Ape 1708 Ape 8214 Ape 7528 Ape 9988 Ape 9410

Mutants 25057 Mutant 11177 Mutant 28752 Mutant 24718 Mutant 2436 Mutant 9278 Mutant 2434

Clonex 6801

— toddkramer.eth (@toddkramer1) December 30, 2021

The freeze on buying and selling the NFTs have some traders decrying a lack of decentralization, one of the cherished aspects of the crypto industry.

Following an apparent phishing attack, OpenSea has frozen 16 Bored Ape and Mutant Ape nonfungible tokens (NFT) owned by New York-based art curator and NFT collector Todd Kramer a.k.a. Toddkramer.eth.

Kramer reported on Twitter that his collection of Bored Ape Yacht Club NFTs worth $1.9 million was “hacked” and stolen.

According to several reports, 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 are now not able to be traded on OpenSea.

Kramer announced on Twitter that he had clicked on a link that appeared to be an NFT decentralized application, but it turned out to be a phishing attack and 16 of his NFTs were stolen after the hackers gained access to his hot wallet.

Opensea freezes bored apeshit

Twitter expert kw.sol said, “Who can freeze these NFTs? If you let a third party do it, it’s very protective of the cryptocurrency. Best thing not to do.”

Grady Booch, a well-known software expert, commented on the lack of breakdown of the problem.

“I am very stupid. Here I think the law is the law and one of the elements of cryptocurrency is to eliminate the potential for interference in the media.

Gold wallets are cryptocurrency wallet software, usually MetaMask.
If the device where HotWallet is installed is connected to the Internet, it will connect to the Internet.

Kramer said that after clicking the wrong link on Twitter, the phishing scam entered his wallet and lost his treasure.

Although Kramer has no way of recovering stolen NFTs, his experience highlights the importance of a secure transaction (opsec) as a cryptocurrency or NFT domain trader.

While the NFT community was generally unsupportive of the trader, OpenSea halted trading on the stolen items.

Some traders criticize the absence of decentralization, one of the most prized elements of the crypto business, due to the freeze on purchasing and selling NFTs. “Who was able to freeze then?” said kw.sol on Twitter (NYSE:TWTR).

Read Also: Billionaire Ray Dalio Wants to Mint an NFT Just to Experience What It’s Like

A hot wallet is a cryptocurrency software wallet that is always connected to the internet, most frequently MetaMask regardless of whether the device it is installed on is connected to the internet. Kramer claimed that a phishing scheme acquired access to his hot wallet after he clicked on a malicious link and lost his collection as a result.

NFT OpenSea has frozen 16 different brands of Bored Ape and Mutant Ape, which were reported to have been stolen by a housekeeper in New York yesterday.

A total of 1 Clonex, 7 Mutant Ape Yacht Club and 8 Bored Ape Yacht Club NFT were stolen and are now valued at around 615 ETH ($ 2.82 million) and no profit on OpenSea.

The toddkramer.eth account, linked to the Ross Kramer Art Gallery in New York, reported tweets about 16 NFTs stolen from the hotwallet, asking OpenSea and the NFT community for help. While the NFT community generally does not consider the issue of vendors, OpenSea has frozen the market for its stealth products.

By abandoning the marketing of these NFTs, some investors have criticized the non-distribution as a preference of the crypto industry.

I been hacked, all my apes gone,” he Tweeted.

A hot wallet is a type of cryptocurrency software wallet that is connected to the internet — most commonly MetaMask — whenever the device it is installed on is connected.

NFTs are cryptographically unique digital tokens that prove ownership of physical or digital content such as art, GIFs or music file. Bored Ape Yacht Club is one of the most popular PFP (profile picture) collections, a series of cartoon ape images with randomly-generated attributes.

Some people have argued that appealing to a third party to freeze NFTs went against the core idea of decentralization, one of the cherished aspects of the crypto industry.

Among many others voicing out their criticism towards the lack of decentralization, famed software engineer Grady Booch chimed saying, “silly me.

After being reported as stolen, the NFT marketplace OpenSea freezes transactions of $2.2 million worth of Bored Ape NFTs. The NFTs on the market now come with a disclaimer that they’ve been “reported for suspicious activity.” Purchasing and sale of such things have been halted.

OpenSea freezes transactions

Image Source: Arover

15 apes and mutants have been stolen in total. Todd Kramer, the owner of the NFTs, described the incident as “probably the worst night of his life” and expressed hope that it would be resolved.
This is the first time in recent memory that NFTs from a big collection has been stolen, raising security concerns.

According to the crypto community, the decision to freeze NFTs calls decentralization into doubt.

OpenSea, a nonfungible tokens (NFT) marketplace, has frozen 16 Bored Ape and Mutant Ape nonfungible tokens (NFT) after allegedly being taken from a New York art gallery operator yesterday. One Clonex, seven Mutant Ape Yacht Club, and eight Bored Ape Yacht Club NFTs were taken in total, with a total value of 615 ETH ($2.28 million). In addition, they are no longer available for trading on OpenSea.

The toddkramer.eth account, linked to the Ross+Kramer Art Gallery in New York, sent out a series of tweets revealing the 16 NFTs stolen from his hot wallet and begging for assistance from OpenSea and the NFT community.

Grady Booch, a known software engineer, mocked the situation by saying that his idea of cryptocurrencies involved the elimination of all sorts of intervention.

Kramer revealed that he lost his assets in a phishing scam where the hackers gained access to his wallet when he clicked on a suspicious link. However, after seeing the unsympathetic comments on his post, Kramer deleted the tweet and called Twitter ruthless. He stated in one of his tweets that he has learned his lesson because of the theft and is now aware of the diligence required for handling valuable crypto assets in a hard wallet.

The incidences of theft and frauds are not unfamiliar for the crypto and NFT industry.

Earlier an NFT collector named bergpay.eth lost five Jungle Freaks and two Sandbox NFTs in his Ethereum wallet.

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