opensea stolen bored apes

CoinGeek to come true, and sometimes they happen much faster than expected. Last year, during the height of NFT mania, we told you that the feverish stampede into NFTs would lead to a tidal wave of lawsuits over digital rights, fraudulent behavior, and who owns what in the NFT world.

We didn’t have to wait long for this prediction to come true. Recently, a Texas man has filed suit against OpenSea for damages after his rare Bored Ape NFT was sold without his consent on the platform. He claims this was caused by an exploit that OpenSea was well aware of.

Who is Timothy McKimmy, and why is he suing OpenSea?

  • Timothy McKimmy bought a rare Bored Ape NFT (#3475) on OpenSea for 0.01 ETH or around $26 at the time.
  • His Bored Ape NFT was sold for 99 ETH (around $250,000 today) due to an exploit in OpenSea.


A man who unknowingly sold his Bored ApeNFT for 0.01 ETH (about $26 USD) is suing OpenSea, claiming that the platform was aware of a bug that allowed hackers to buy NFTs at a fraction of the market price, Decrypt reported.

Timothy McKimmy filed the complaint in a Texas court, alleging that he is the owner of Bored Ape #3475 and that the NFT was never listed for sale. Rather, McKimmy claims that the NFT was “stolen” and then resold by the hacker for 99 ETH ($250,000 USD).

The Bored Ape is from a set of 10,000 NFTs.
McKimmy claims that in terms of rarity, his NFT is in the top 14th percentile, according to Decrypt. He is suing for “the return of the Bored Ape [..] and/or damages over $1 million.”

He also accuses OpenSea of being aware of the bug, yet refusing to shut down trading.

Leading marketplace for Non-Fungible Token fans, OpenSea has frozen 16 Bored Ape and Mutant Ape NFTs right after they were stolen from the hot wallet of a New York art gallery operator, Todd Kramer. The digital collectibles were stolen from the account named ‘toddkramer.eth’ that is linked to the Ross+Kramer Art Gallery in New York.

Terrified by the theft of his valuables, Kramer released a series of tweets informing about the loss and seeking help from OpenSea and the NFT cluster.

According to the announcement, the owner lost a whopping $2.2M or nearly 615 ETH worth of Non-Fungible Tokens from his hot wallet. The valuables included one Clonex, seven Mutant Ape Yacht Club, and eight Bored Ape Yacht Club tokens.


For the unversed, a hot wallet is a crypto wallet that gets connected to the Internet, primarily MetaMask, as and when the device it is installed on is connected.

They replied that they were actively investigating but ultimately didn’t rectify the issue, according to McKimmy.

Why digital assets cannot escape the law

This is the first of what will likely be a raft of lawsuits surrounding NFTs. Aside from the people believing they are literally buying rare NBA and other sports footage, but who are in fact buying nothing of the sort, more victims are likely to come forward as their highly valuable NFTs are stolen from platforms.
Indeed, one U.S. law firm is already looking for other victims to bring a class-action lawsuit against OpenSea.

In the industry, it hasn’t sunk in yet that property rights exist both in the physical and virtual worlds. It doesn’t matter if it’s a car or a Bored Ape NFT; if you can prove ownership, it belongs to you, and stolen property can be retrieved.
Furthermore, Dr.

One Twitter commenter kw.sol said, “Who was able to freeze the n? Feels pretty anti crypto to be asking third parties to do this and ideally they shouldn’t be able to.”

Famed software engineer Grady Booch chimed in about the lack of decentralization in this case when he commented:

Silly me. And here I thought that the code is the law and that one of the very ideas of cryptocurrencies was the elimination of any possibility of centralized intervention.

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.

Kramer tweeted that he lost his collection through a phishing scam that gained access to his hot wallet after he clicked on a malicious link.
He deleted the tweet following the harsh vitriol in the comments. Kramer most recently tweeted on Dec.

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.

There can be a few reasons why you are unable to send a direct message to someone. Here are the possible reasons below: You don’t share a server with the recipient.

You’ve disabled direct messages on your shared server. You have not completed the required membership screening steps in your shared server.

The recipient is only accepting direct. Sep 02, 2021 · Now, if you want a Bored Ape NFT, you have to buy one on a secondary market, mainly on OpenSea. They’ve gotten pretty pricey. They’ve gotten pretty pricey. The cheapest apes currently go for …. BoredApe Yacht Membership (BAYC) reclaims the primary spot Final week, Crypto reported that BAYC had misplaced its place because the main NFT assortment on OpenSea by quantity.
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.

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.

The scam is relatively simple – the scammer places a bid on one of your apes for say, $2.75 – you don’t look closely and assume the bid is for 2.75ETH, get excited, sell, and then break down into tears when you realize you’ve just sold your ape at a massive loss. Here’s an example of one of these sales:

The owner of ape #6874 here assumed they had received an offer for 2.75ETH, but as you can see, it’s actually a bid for 2.75USDC, and poof – ape gone.

The really frustrating thing about this scam is that technically the scammers aren’t breaking any laws. They placed a bid on an NFT, the owner accepted the bid, and they now rightfully own the NFT. I don’t know how people who do this can sleep at night but scammers find a way…

As an NFT investor the best way to protect yourself from this scam is to look at your offers and make sure they’re actually in ETH, not USDC.

Art gallery owner Todd Kramer had his valuable NFT collection stolen from his hot wallet yesterday, so OpenSea froze the stolen assets worth about $2.2 million.

NFT marketplace OpenSea has frozen 16 Bored Ape and Mutant Ape nonfungible tokens (NFT) after they were reportedly stolen yesterday from a New York art gallery operator.

In total, 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.

The toddkramer.eth account, which links to the Ross+Kramer Art Gallery in New York, fired off a series of tweets detailing the 16 NFTs that were stolen from his hot wallet and pleading with OpenSea and the NFT community for help.

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.

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