DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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These are the top 10 NFT heists in recent history:
Lympo — $18.7M stolen
Farmers World — $15.7M stolen
Bored Ape Yacht Club — $13.7M stolen
DragonSB Finance — $10M stolen
OpenSea — $3.4M stolen
TopGoal — $2.23M stolen
The Shifters — $2M stolen
Alethea AI — $1.8M stolen
Moonbirds — $1.5M stolen
Omni — $1.43M stolen
Yup, it is scary that we have enough information to have a top 10 list for such a thing.
Just take note, these are just the top 10, not the total amount of NFTs stolen.
As our digital assets get more precious and more users are being onboarded into web3, NFTs will be a sizable market.
Ever wondered how does an NFT get stolen?
Let me share a few of the most common ways.
They mostly revolve around Phishing — where the thieves will send you emails, text messages, Discord DMs, DMs on social media to try and get your information.
Fake social media accounts — misspelling popular NFT collections or prominent crypto personalities and getting you to go to their website where they collect vital information from you
Fake websites — getting you to link your wallets (you think you are minting a really rare NFT) and unwittingly allowing the thieves to take everything in that wallet
Hacking into admins of Discords and community platforms and using their accounts to put up links that will drain your wallets
Hacking into exchanges and platforms and directly stealing from the users (albeit a lot of work and effort)
Copycat NFTs — they literally clone the NFT collection and make you think its the NFT you wanted to get
As you can see, majority of the ways of how an NFT actually gets stolen is when the user compromise themselves.
Ironically, most NFT attacks are only achievable when the user unknowingly clicks on a link or allow access to their wallets.
Hackers knows that users are tardy, not vigilant and easily fooled.
Of course, hackers and thieves are getting more creative and talented by the minute.
Scams, phishing and grifts will get more complicated and extravagant.
With the advent of newer technologies and tools, the sophistry of attacks is getting to record high levels.
It is a by-product of a booming asset class, an inevitable reality of having so much money entering an industry so quickly.
Like the lion and the gazelle, one has to outrun the other in order to survive every day.
“Every morning in Africa, a gazelle awakens. He has only one thought on his mind: To be able to run faster than the fastest lion. If he cannot, then he will be eaten.
Every morning in Africa a lion awakens. He has only one thought on his mind: To be able to run faster than the slowest gazelle. If he cannot, he will die of hunger.
Whether you choose to be a gazelle or a lion is of no consequence. It is enough to know that with the rising of the sun, you must run.
And you must run faster than you did yesterday or you will die.
This is the race of life.”
As web3 and crypto adoption booms, scams and phishing will rise too, we have to be more vigilant and astute.
Be safe out there.
Buy a hardware wallet, take care of your coins and NFTs and never, ever share your seed phrase.
Remember: “The only free cheese is in the mousetrap”.
=)
-
Can NFT heists/scams be completely eradicated?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #hacks #rattacks #boredapes #NFTs #scams #eth #btc #crypto #hackers #wallets
These are the top 10 NFT heists in recent history:
Lympo — $18.7M stolen
Farmers World — $15.7M stolen
Bored Ape Yacht Club — $13.7M stolen
DragonSB Finance — $10M stolen
OpenSea — $3.4M stolen
TopGoal — $2.23M stolen
The Shifters — $2M stolen
Alethea AI — $1.8M stolen
Moonbirds — $1.5M stolen
Omni — $1.43M stolen
Yup, it is scary that we have enough information to have a top 10 list for such a thing.
Just take note, these are just the top 10, not the total amount of NFTs stolen.
As our digital assets get more precious and more users are being onboarded into web3, NFTs will be a sizable market.
Ever wondered how does an NFT get stolen?
Let me share a few of the most common ways.
They mostly revolve around Phishing — where the thieves will send you emails, text messages, Discord DMs, DMs on social media to try and get your information.
Fake social media accounts — misspelling popular NFT collections or prominent crypto personalities and getting you to go to their website where they collect vital information from you
Fake websites — getting you to link your wallets (you think you are minting a really rare NFT) and unwittingly allowing the thieves to take everything in that wallet
Hacking into admins of Discords and community platforms and using their accounts to put up links that will drain your wallets
Hacking into exchanges and platforms and directly stealing from the users (albeit a lot of work and effort)
Copycat NFTs — they literally clone the NFT collection and make you think its the NFT you wanted to get
As you can see, majority of the ways of how an NFT actually gets stolen is when the user compromise themselves.
Ironically, most NFT attacks are only achievable when the user unknowingly clicks on a link or allow access to their wallets.
Hackers knows that users are tardy, not vigilant and easily fooled.
Of course, hackers and thieves are getting more creative and talented by the minute.
Scams, phishing and grifts will get more complicated and extravagant.
With the advent of newer technologies and tools, the sophistry of attacks is getting to record high levels.
It is a by-product of a booming asset class, an inevitable reality of having so much money entering an industry so quickly.
Like the lion and the gazelle, one has to outrun the other in order to survive every day.
“Every morning in Africa, a gazelle awakens. He has only one thought on his mind: To be able to run faster than the fastest lion. If he cannot, then he will be eaten.
Every morning in Africa a lion awakens. He has only one thought on his mind: To be able to run faster than the slowest gazelle. If he cannot, he will die of hunger.
Whether you choose to be a gazelle or a lion is of no consequence. It is enough to know that with the rising of the sun, you must run.
And you must run faster than you did yesterday or you will die.
This is the race of life.”
As web3 and crypto adoption booms, scams and phishing will rise too, we have to be more vigilant and astute.
Be safe out there.
Buy a hardware wallet, take care of your coins and NFTs and never, ever share your seed phrase.
Remember: “The only free cheese is in the mousetrap”.
=)
-
Can NFT heists/scams be completely eradicated?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #hacks #rattacks #boredapes #NFTs #scams #eth #btc #crypto #hackers #wallets
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