You can do that? OpenSea froze $2.2 million of assets stolen from art gallery owner Todd Kramer’s valuable NFT collection, raising questions over decentralization in the industry.
, “Who was able to freeze the n? Feels pretty anti crypto to be asking third parties to do this and ideally they shouldn’t be able to.”
Famed software engineer Grady Booch chimed in about the lack of decentralization in this case when he“Silly me. And here I thought that the code is the law and that one of the very ideas of cryptocurrencies was the elimination of any possibility of centralized intervention. A hot wallet is a type of cryptocurrency software wallet that is connected to the internet — most commonly MetaMask — whenever the device it is installed on is connected.
Kramer tweeted that he lost his collection through a phishing scam that gained access to his hot wallet after he clicked on a malicious link. He deleted the tweet following the harsh vitriol in the comments. Kramer most recentlyWhile Kramer has little recourse in retrieving the stolen NFTs, his experience highlights the importance of sound operational security as a cryptocurrency trader or NFT collector.
Kramer’s ordeal is not a unique experience to NFT traders, especially those familiar with the Bored Ape Yacht Club collection.he suffered a similar fate to Kramer when 5 Jungle Freaks and 2 Sandbox NFTs were stolen from his Ethereum wallet and his ENS domain was transferred to a new address.that can overcome an NFT owner if they find that their favorite items have been stolen from their hot wallet.
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