Weekly Newsletter 25 March 2022
In a cautionary tale for NFT collectors, this week Arthur Cheong, a seasoned blockchain user and founder of DeFinance Capital, had over 600 ETH (approximately $1.7 million) worth of NFTs stolen from his crypto wallet. The targeted wallet was a “hot” wallet (connected to the internet) rather than a cold wallet which is deemed a safer option for holding crypto assets for the long-term, as it is stored offline. The attack seems to have originated from a tailored phishing email. The story makes clear the importance of being vigilant on the internet, and to be cautious following any links.
On the topic of phishing scams, a Bored Ape Yacht Club NFT owner was phished today by a fake Twitter account — the latest of many to fall victim to an NFT airdrop scam. The scammer had a verified Twitter account, but this is no guarantee of trustworthiness as it’s easy to purchase a verified account. The investor lost over half a million dollars in NFTs.
Finally, Liverpool FC has launched the latest sports-inspired NFT collection — marking one of the biggest deals yet for digital collectibles and sports. The collection is made up of 24 NFTs of the team’s players and managers, each depicted as superheroes. A portion of the proceeds and future resale royalties will go toward the LFC Foundation, the team’s official charity which is dedicated to children and youth.