Hackers steal NFTs worth millions, from Apes to Art Blocks, in NFT Trader exploit
www.theblock.co
The major hack may be the worst attack to hit the NFT community in its history, with millions of dollars in potential losses.

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.

  • Dr. Coomer@lemmy.worldEnglish
    4·
    8 months ago

    Then what would you do with it? Is it purely for clout? “Hey guys, look, I got an image of this monkey.” Yes monkeys are amazing, but you don’t even own the picture, so what’s the point?

    • deft@ttrpg.networkEnglish
      61·
      8 months ago

      I mean low key it’s supposed to be a receipt that can’t be copied. The receipt being slapped onto an image is what most associated with NFTs but it’s more just like a code that provides proof of purchase/ownership because you can trace the history on the block chain

      • merc@sh.itjust.worksEnglish
        6·
        8 months ago

        Except more like a star registry because there’s nothing to say you actually own the image. Other people on other blockchains might also claim that they own the image. Other people on the same blockchain might also claim the exact same image, just at a different URL.

      • Traister101@lemmy.todayEnglish
        6·
        8 months ago

        It’s a receipt with a link to an image. The image is entirely unrelated to the NFT outside of the link that’s embedded into the NFT. It’s kinda like how you can embed an image from one website onto another separate unrelated website

      • TheHarpyEagle@lemmy.worldEnglish
        2·
        8 months ago

        The rub here being that you really only own the receipt, it doesn’t confer any legal rights or ensure exclusivity of the content it’s attached to. I get why people uninterested in being part of a PNG are excited about them, but I haven’t personally seen a use case for them that isn’t exploitable or already solved by current technology.

        • deft@ttrpg.networkEnglish
          23·
          8 months ago

          Back with GameStop the hope was the ability to sell/trade digital content like games. Because you actually own the digital content and the proof of purchase, closest to digital ownership I’ve seen.

          PlayStation out here taking games after people bought them and shit is a strong reason for NFTs imo