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$1.7M in NFTs Stolen From Crypto VC by Hackers – VICE

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On Monday night, Arthur Cheong—the founder of DeFinance Capital, a crypto-centric VC fund—had about $1.7 million worth of NFTs stolen from his wallet in what appears to have been a social engineering attack.
"Well not sure what happened, need to take time to figure it out. Didn't expect this to happen to me as well," Cheong tweeted. "Guess no more hot wallet usage then," he said, referring to crypto wallets that are connected to the internet. 
"Found out the likely root cause for the exploit, it's a targeted social engineering attack,” he tweeted on Tuesday morning. “Received a spear-phishing email that really seems to be sent by one of our portco [portfolio companies] with content that seems like general industry-relevant content."
A spear phishing attack is a relatively simple one: To gain access to a system, an attacker sends fake messages that appear legitimate, tailored to a specific target—usually with domain names or other familiar identifiers so that the target opens a malicious link or file. In this case, the attacker posed as a company that DeFinance Capital had invested in, sharing a document titled "A Huge Risk of Stablecoin (Protected),” Cheong tweeted. After Cheong downloaded the malicious files, they gained access to Cheong’s wallet and began stealing tokens and flipping NFTs, according to blockchain security company PeckShield. Right now, the hacker’s wallet holds some 589 ETH worth about $1.77 million.
Key to all this was Cheong using a "hot" wallet instead of a "cold" one, meaning a wallet that's connected to the internet as opposed to a hardware one that can keep your seed phrase safe offline. Cheong shared later that the hacker had access to at least two separate hot wallets but it wasn’t exactly clear how.
Later on Tuesday morning, Cheong said that he would contact people who bought his stolen NFTs after some time. "If you bought my stolen NFT (mainly Azuki and CloneX), appreciate if you can hold it first. I will contact you all when I get my stuff sorted," he tweeted. 
One Twitter user named "Cirrus" claimed to have bought two of the stolen NFTs and said they would return them to Cheong at cost. 
Cheong did not respond to Motherboard’s request for comment.
This isn’t the first attack targeting a crypto-asset investment firms and it likely won’t be the last. In January, North Korean hackers made headlines after impersonating VCs and workers at major crypto firms like Digital Currency Group in order to steal large amounts of crypto from various startups.
Admittedly, it can be difficult to secure one’s crypto even if proper steps are taken. Ultimately, all it takes is one mistake to let in a hacker who can drain your wallet permanently, since transactions are irreversible. 
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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