Bored Ape 887 Record Fast Theft hodllee.eth

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Bored Ape Yacht Club

A Bored Ape NFT, purchased for $116,000, was swiftly flipped by a scammer just two hours after the initial transaction. The thief got away with their funds by performing a cross-chain swap on RenBridge. The individual filed a police report, however it does not appear that they've had any luck in recovering the NFT.

This is a global/international case not involving a specific country.

About None

"The latest Bored Ape theft was made public on Twitter this Saturday thanks to investigative work from crypto sleuth ZachXBT. According to ZachXBT the NFT was quickly sold or “flipped” after the theft before the thief went on to perform a cross-chain swap on RenBridge."

"Wow this person bought a BAYC for $116k (70.69 ETH) then proceeded to get scammed just two hours later."

"The owner of a Bored Ape purchased for $116,000 fell victim to a scammer just two hours later. The theft and subsequent flipping of Bored Apes have almost become an industry within itself. August has witnessed a significant number of NFT thefts, many of them involving Bored"

"The address it went to has a bunch of other stolen NFTs from people." "Person that was scammed apparently filed a police report"

"August has witnessed a significant number of NFT thefts, many of them involving Bored Apes. The theft and subsequent flipping of Bored Apes have almost become an industry within itself."

"The incident may be the fastest in the space, with just two hours separating the purchase and swindle." "While the speed of the disaster was impressive, the rest of the story is by no means unique or special."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Bored Ape 887 Record Fast Theft hodllee.eth

Date	Event	Description
August 20th, 2022 1:50:12 AM MDT	NFT Purchased	The NFT is originally purchased by the victim.
August 20th, 2022 3:38:25 AM MDT	NFT Theft	The NFT is transfered from the victim to the thief, as a sale for 0 ETH.
August 20th, 2022 5:54:07 AM MDT	NFT Resold	The NFT is resold by the thief to FranklinIsBored.eth.
August 20th, 2022 6:25:05 AM MDT	ENS Name Transfer	It appears the victim transfered their ENS name to a new wallet.
August 20th, 2022 8:21:00 AM MDT	ZachXBT Reports	ZachXBT picks up and reports the story on his Twitter.
August 22nd, 2022 1:00:00 PM MDT	BeInCrypto Article	BeInCrypto reports on the theft of the ape.
August 22nd, 2022 7:38:18 PM MDT	Reddit Post	The incident is discussed on Reddit.

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

Total Amount Lost

70.69 ETH

The total amount lost has been estimated at $116,000 USD.

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.