Sunday, June 4, 2023

Hacker Gets Tricked As Community Gets Back Stolen NFTs

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A hacker gets tricked as the community gets back some stolen NFTs when a dev partner of the Solana-based NFT gamed raised royalties to 98% from the usual 5%, ending up the scammer listing the 2t stolen NFTs for sale that was bought back and returned so let’s find out more today in our latest cryptocurrency news.

The tales of the traders getting scammed out of their NFTs were quite common at the peak of the boom in NFT sales. However, in a turn of events, the Solana community came together to scam the scammer in order to get back other stolen NFTs so the hacker gets tricked to taste his own medicine. It started with the Discord channel hack of cross-chain gaming development studio Uncharted NFT where the scammers managed to drain more than 109 user wallets. The scammers got away with 150 SOL tokens as well as 25 World of Solana NFTs including three rare and valuable collectibles.

The WOS is a collection of 2,222 unique heroines with the biggest expensive avatar now listed for 123 SOL with the current floor price of the collection being 2.03 SOL. In the aftermath of the hack, the community decided to get back the stolen NFTs and the WOS team got in touch with their developer who goes by the Twitter name “Cyberfrog” raising royalties on stolen NFTs 98% from the default of 5%. The community was asked to keep an eye on the Solana NFT market Magic Eden for new listings. The scammer dropped for the trap in two days and the community managed to purchase 15 NFTs while the other 10 were sniped.

Sniping is a process of waiting until a few new seconds of the NFT auction in order to make a winning bid so this strategy is used to prevent other NFT bidders from placing higher bids before the auction ends. The community managed to retrieve the other 10 sniped NFTs but also return the 25 WOS NFTs to the rightful owner. The Twitter thread detailed the events of the hack and the community work to get it back but asked the community members to use a burner wallet and be careful when minting. The smaller NFT community managed to get back at the scammers twice now.

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