yesmanDec 17, 2023

Hackers steal NFTs worth millions. In other news, NFTs worth millions.

https://lemmy.world/post/9675964

Hackers steal NFTs worth millions. In other news, NFTs worth millions. - Lemmy.World

The way I read the article, the “worth millions” is the sum of the ransom demand. The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches?

Show thread🐑🇸 🇭 🇪 🇪 🇵 🇱 🇪🐑Dec 17, 2023
No one is gonna buy any NFTs for millions lmao
Show threadshortwavesurferDec 17, 2023
As crazy as it sounds, some people do.
Show threadTWeaKDec 17, 2023
It’s a great way to launder money.
Show threadshortwavesurferDec 17, 2023
Mmm, considering NFTs are all on transparent blockchains, I don’t know that I would choose that particular method to accomplish that.
Show threadStarbuckDec 17, 2023

The transparency is the feature that makes it great. I can buy drugs or whatever, and exchange you buy an NFT from me of equal value. Now when the bank comes and says “where did this >$15k transaction come from?” I can point to the blockchain and say that I sold my fancy monkey pic.

This has been a thing in the physical art world for a while, complyadvantage.com/…/art-money-laundering/, this just made it easier.

How Does Art Money Laundering Work?

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Show threadshortwavesurferDec 17, 2023
Yeah, I know it’s happened for a while, but my big question would be why are you having to put your money back in the bank instead of leaving it on a blockchain such as Monero. The dollar is about the biggest scam around along with all other government fiat currencies.
Show threadchunkystyles

Hahahahahahaha!

I’m being serious when I say this: you don’t understand what you’re talking about. I know that’s dismissive, and I’m sorry.

Dec 17, 2023 at 5:31pmWeb