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Cyber-security researchers on Wednesday reported that world's largest <keyword id="4668945" type="General" weightage="20" keywordseo="nft" source="Orion">NFT</keyword> (non-fungible token) marketplace called <keyword id="11928103" type="General" weightage="20" keywordseo="opensea" source="Orion">OpenSea</keyword> had compromised security which, if exploited, could have led hackers to hijack user accounts and steal entire crypto wallets of users, by sending malicious NFTs. After seeing reports of stolen crypto wallets triggered by free airdropped NFTs, Check Point Research (CPR) investigated OpenSea, the world's largest NFT marketplace. The investigation led to the discovery of critical security vulnerabilities on OpenSea's platform. The team immediately disclosed findings to OpenSea, who went onto deploy a fix in less than one hour of disclosure. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> OpenSea is known as the world's largest NFT marketplace, recording $3.4 billion in transaction volume in August alone. "These attacks would have relied on users approving malicious activity through a third-party wallet provider by connecting their wallets and providing a signature for the malicious transaction," OpenSea said in a statement. "We have been unable to identify any instances where this vulnerability was exploited but are coordinating directly with third-party wallets that integrate with our platform on how to help users better identify malicious signature requests, as well as other initiatives to help users' thwart scams and phishing attacks with greater efficacy," the company added. NFTs allow people to buy and sell ownership of unique digital items in cryptocurrencies, and keep track of who owns them using the Blockchain. NFTs can technically contain anything digital, including drawings, artworks, tweets, animated GIFs, songs, or even video games. The investigation of OpenSea was prompted by reports of free airdropped NFTs allegedly gifted to users. The security researchers recommended that users must be careful when receiving requests to sign your wallet online. "Given the sheer pace of innovation, there is an inherent challenge in securely integrating software applications and crypto markets," said Oded Vanunu, Head of Products Vulnerabilities Research at Check Point Software. "We sternly warn the OpenSea community to watch out for suspicious activity that may lead to theft, as we believe bad actors will continue to expand their efforts, in order to hijack crypto wallets while exploiting system vulnerabilities," Vanunu added. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/stablecoin-regulation-will-be-less-risky-in-super-countries-than-in-the-us-according-to-makerdao-founder-rune-christensen/articleshow/86965660.cms">‘We should be ready for the worst’ — MakerDAO founder is not optimistic about the stablecoin regulation in 2022</a> <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-crosses-57000-for-the-first-time-in-five-months-altcoins-continue-to-struggle/slidelist/86957497.cms">Bitcoin crosses $57,000 for the first time in five months — altcoins continue to struggle</a> <a href="https://www.businessinsider.in/cryptocurrency/news/binance-to-halt-chinese-yuan-crypto-trading-and-restrict-mainland-china-customers-to-withdrawals-only/articleshow/86992235.cms">Binance to halt Chinese yuan-crypto trading and restrict mainland China customers to withdrawals only</a>

A bug in the world's largest NFT market could have allowed crypto wallets to be hijacked or stolen

<ul class="summary-list"><li><keyword id="12012796" type="UNKNOWN" weightage="60" keywordseo="opensea" source="Orion">OpenSea</keyword> has confirmed an estimated $1.7 million worth of NFTs were stolen in a hack on Saturday.</li><li>The phishing attack exploited the smart-contract code used in NFTs, the platform believes.</li></ul>Leading NFT marketplace OpenSea has confirmed an estimated $1.7 million worth of tokens were stolen in a hack at the weekend. In the attack, which took place between 5 p.m. and 8 p.m. ET on Saturday, the thieves tricked OpenSea users into part-signing smart contracts to allow the trades. They then completed the contract process to transfer the NFTs, or non-fungible tokens, to their own address.The hackers likely used "phishing" — in which an official communication is faked to look like the real thing — to fool NFT owners into signing, OpenSea believes."As far as we can tell, this is a phishing attack. We don't believe it's connected to the OpenSea website. It appears 32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen," OpenSea CEO Devin Finzer said in a series of <a href="https://twitter.com/dfinzer/status/1495245308812402688">tweets</a>.In <a href="https://twitter.com/opensea/status/1495625768713469954">later tweets</a>, Finzer dispelled suggestions that the NFT haul was worth as much as $200 million, and clarified that the number of victims had been narrowed down to 17 individuals."The attacker has $1.7 million of ETH in his wallet from selling some of the stolen NFTs," he said.The <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> loss is small compared with recent high-profile hacks, such as solana's <a href="https://www.businessinsider.in/investment/news/hackers-stole-322-million-in-2022s-largest-defi-hack-so-far-10-million-is-being-offered-for-its-return/articleshow/89324200.cms">$322 million</a> wormhole bridge attack, which also used a flaw in smart contracts. But it is a sign that such crime is becoming more common, as suggested by a recent <a href="https://markets.businessinsider.com/news/currencies/crypto-crimes-2021-defi-scam-stolen-funds-rug-pull-chainalysis-2022-1?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Chainalysis report</a> that found criminals nabbed crypto worth $14 billion in 2021, a rise of 80%.Persistent security issues could become a barrier to mainstream adoption of crypto, given a burden is being passed on to the user, some analysts have warned.The risk of smart contract-based attacks in decentralized finance, especially in developing networks like solana, are quite high, according to Hart Lambur, cofounder of the UMA protocol."Smart contract bugs are unfortunately a common risk in DeFi," Lambur told Insider recently.The OpenSea hack exploited the <a href="https://twitter.com/Nesotual/status/1495223117450551300?s=20&amp;t=J8kqfpXP56ppqHJ1ax1VyQ">Wyvern Protocol</a>, which underpins most NFT smart contract processes. As the protocol is open source, the code is standard and publicly available.There are three ways to authorize an order, according an explainer on the Wyvern Protocol website."Orders must always be authorized by the maker address, who owns the proxy contract which will perform the call. Authorization can be done in three ways: by signed message, by pre-approval, and by match-time approval."The OpenSea victims signed a partial contract for the NFT trade, giving the attacker a general authorization but leaving it largely blank — something like signing a blank check. That let the hackers transfer ownership of the NFTs without making any payment.At least 254 NFTs were taken, <a href="https://twitter.com/PeckShieldAlert/status/1495281343927767040">according to crypto analysis company PeckShield</a>, though the company has not confirmed the tally.After talking to those affected, OpenSea decided a new Wyvern 2.3 contract was not used in the phishing attack, its CEO said. <a href="https://twitter.com/dfinzer/status/1495302784689704966">Finzer said</a> it had also ruled out phishing via clicking on the OpenSea site's banner; clicking on a faked OpenSea email; or using the platform's listing migration tool. Minting, buying, selling or listing NFTs was not at fault either, he said.The NFT platform is investigating whether the victims had interacted with a list of common websites, he added. OpenSea did not respond to an Insider request for comment.Read more: <a href="https://www.businessinsider.com/bitcoin-price-prediction-ai-platform-founder-btc-eth-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">A former hedge-fund trader's AI platform predicts bitcoin returns will crush ethereum by 33% over the next 3 months. He explains how users of the service are beating the average stock-market investor by 18%</a>.

OpenSea confirms hackers made $1.7 million on NFTs stolen in a phishing attack at the weekend

<ul class="summary-list"><li>A married couple in their 30s face charges of laundering bitcoin worth $4.5 billion from the 2016 <keyword id="13137629" type="UNKNOWN" weightage="60" keywordseo="bitfinex-hack" source="Orion">Bitfinex hack</keyword>.</li><li>Ilya Lichtenstein and Heather Morgan behaved like people in a spy novel, US prosecutors allege. </li></ul>A couple in their 30s, referred to as the <a href="https://twitter.com/NorthmanTrader/status/1491495074827583491">crypto "Bonnie and Clyde</a>," have quickly come under the spotlight after being accused of conspiring to launder almost 120,000 bitcoin worth $4.5 billion taken in the <a href="https://www.businessinsider.com/r-bitfinex-disables-trading-on-exchange-after-hack-2016-8?utm_medium=ingest&amp;utm_source=markets&amp;r=US&amp;IR=T">2016 Bitfinex hack</a>.Ilya Lichtenstein, a Russian-American who goes by the nickname "Dutch," and his US-born wife Heather Morgan were arrested in Manhattan this week. The US Department of Justice <a href="https://markets.businessinsider.com/news/currencies/bitcoin-hack-bitfinex-crypto-justice-department-2022-2">seized bitcoin worth $3.6 billion</a>, recovering most of what was lost in the cyberattack.Morgan, who calls herself the "<a href="https://www.youtube.com/watch?v=-38TQeQrQ88">Crocodile of Wall Street</a>," <a href="https://www.tiktok.com/@realrazzlekhan">raps on TikTok</a> under the name Razzlekhan, and is a (now former) <a href="https://www.forbes.com/sites/heathermorgan/?sh=61f5e0617f7d">Forbes contributor</a> who once wrote an essay on <a href="https://www.forbes.com/sites/heathermorgan/2020/06/18/protect-your-business-from-cybercriminals/?sh=656d541b2f27">how businesses can shield from cybercriminals</a>. Lichtenstein's presumed Twitter account has frequent posts about Web3 and cryptocurrency, while his <a href="https://www.linkedin.com/in/unrealdutch/details/experience/">LinkedIn</a> account lists roles as an advisor to a blockchain startup and an investor in similar projects.<h2>Where are the couple accused of laundering money from?</h2>Hong Kong-based <keyword id="12197160" type="UNKNOWN" weightage="60" keywordseo="bitfinex" source="Orion">Bitfinex</keyword> said in August 2016 that hackers had taken 120,000 bitcoins, worth roughly $70 million at the time.The US <a href="https://www.ice.gov/news/releases/ice-homeland-security-investigations-partners-investigation-leading-2-arrests-alleged">authorities believe</a> the intruder carried out more than 2,000 unauthorized transactions and ultimately sent the bitcoin collected to a wallet held by Lichtenstein. They have not accused the couple of carrying out the cyberattack.About 25,000 bitcoins were transferred out of Lichtenstein's wallet, some to accounts held by him and his wife, the authorities said in court filings. The remaining 94,000 continued to be held in the wallet originally used after the hack.<h2>Discovery of the alleged trail</h2>Special agents with search warrants for the couple's online accounts retrieved files from a Lichtenstein-controlled account that held the private keys for the original wallet.Finding the keys was a crucial step. It possibly revealed the recipient's wallet address, helping the investigators work out the laundering scheme. This enabled them to <a href="https://markets.businessinsider.com/news/currencies/bitcoin-hack-bitfinex-crypto-justice-department-2022-2">recover 94,000 bitcoin</a>.The <a href="https://www.justice.gov/opa/press-release/file/1470186/download">DOJ said</a> the couple engaged in several types of virtual-currency transactions, including NFT purchases. But their OpenSea accounts now <a href="https://www.buzzfeednews.com/article/sarahemerson/doj-accused-crypto-couple-nft-opensea-accounts-disappeared">appear to have been deleted</a>.<h2>How did the duo allegedly 'launder' bitcoin?</h2>Lichtenstein and Morgan used multiple sophisticated methods, the authorities allege.The couple created fake accounts, and used automated computer programs to carry out multiple transactions, depositing the funds with several <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchanges to make them hard to track, the <keyword id="12098051" type="UNKNOWN" weightage="60" keywordseo="doj" source="Orion">DOJ</keyword> said in its charges. They also used US-based accounts to make their activities seem legitimate, it alleged.A new <a href="https://s3.documentcloud.org/documents/21202409/18-main.pdf">34-page court filing</a> Thursday alleged the couple <a href="https://www.businessinsider.com/bitfinex-bitcoin-couple-prosecutors-allege-russia-ukraine-contingency-plan-2022-2?r=US&amp;IR=T">attempted to conceal</a> their role in laundering bitcoin by establishing new identities.Lichtenstein and Morgan spent a month in Ukraine in 2019, prosecutors said, where their activities "at times appear pulled from the pages of a spy novel." They are thought to have been preparing for life in Russia, as Morgan was learning the language.A January 5 search of the couple's New York apartment found cash worth $40,000, <a href="https://www.documentcloud.org/documents/21202409-18-main#document/p18/a2080571">over 50 electronic devices</a>, two hollowed-out books, and a bag labelled "burner phone," they said.The authorities <a href="https://s3.documentcloud.org/documents/21202409/18-main.pdf">believe</a> they have accessed Lichtenstein's cloud storage account. The encrypted files there have a spreadsheet of various accounts, and additional wallets the authorities haven't legally been able to seize. "Several of these files include variations of the word 'dirty' in their names, such as 'dirty_wallet.dat,'" the filing said.Another discovery was a file called "passport_ideas," holding links to various darknet vendor accounts offering passports or ID cards for sale.Lichtenstein and Morgan face charges of conspiracy to commit <keyword id="6355008" type="UNKNOWN" weightage="60" keywordseo="money-laundering" source="Orion">money laundering</keyword> and to defraud the US, carrying a combined sentence of 25 years. They will <a href="https://www.theblockcrypto.com/linked/133871/couple-accused-of-laundering-4-5-billion-in-bitcoin-face-bail-decision-in-dc">remain in custody</a> until a February 14 trial.Anirudh Bansal and Sam Enzer, <a href="https://apnews.com/article/cryptocurrency-stolen-arrest-7e83f7188e8e1580e9678d8a47d6ab32">reported</a> to be the couple's lawyers, didn't respond to Insider's request for comment.

Meet the crypto 'Bonnie and Clyde': A TikTok rapper who calls herself the 'Crocodile of Wall Street' and her husband 'Dutch'. We look at their alleged links to the Bitfinex hack.

<ul class="summary-list"><li>A <keyword id="12248438" type="UNKNOWN" weightage="60" keywordseo="snoop-dogg" source="Orion">Snoop Dogg</keyword> impersonator fooled people at an NFT <keyword id="12003795" type="UNKNOWN" weightage="60" keywordseo="conference" source="Orion">conference</keyword> into thinking he was in attendance.</li><li>The stunt, carried out by an NFT startup, was designed to expose the dangers of fakes in the space.</li></ul>A Snoop Dogg impersonator tricked crowds at an NFT conference in New York into believing he was the real deal in a stunt designed to show how easy fakery in the industry is.The impersonator, who went by the moniker Doop Snogg, attended the <keyword id="14252813" type="UNKNOWN" weightage="60" keywordseo="nft-nyc" source="Orion">NFT.NYC</keyword> conference in New York City this week and took selfies alongside eager Snoop Dogg fans. The NFT startup which hired the lookalike, Fair.xyz, said the trick was supposed to make people talk about imposters and fakery in the NFT industry."We used Doop Snogg as a fun way of highlighting our goal of removing imposters, bots and fraud away from the NFT space," the company said in a statement sent to Insider.NFT sales have tanked in recent months as people struggled to sell <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> for original prices, while others have been caught out by scams and theft.In April, scammers stole over $3 million from NFT holders after <a href="https://www.insider.com/nft-sales-down-nonfungible-phishing-scams-bayc-opensea-2022-5">hacking the Instagram page of the popular collection, Yuga Labs' Bored Ape Yacht Club.</a> In January, NFT marketplace OpenSea also revealed that <a href="https://www.vice.com/en/article/wxdzb5/more-than-80-of-nfts-created-for-free-on-opensea-are-fraud-or-spam-company-says">80% of NFTs created for free on its platform were spam, per Vice.</a>NFT sales have plummeted 92% since their peak in September 2021. The lookalike — who didn't reveal their full name — wore a fake moustache and packed paper in their shoes to appear taller, <a href="https://www.theguardian.com/technology/2022/jun/24/doop-snogg-fake-snoop-dogg-fooled-nft-conference">The Guardian reported.</a>People who bumped into the imposter were tricked and tweeted pictures, with one user captioning their tweet: "My hand are shaky but I think I just caught <a href="https://twitter.com/SnoopDogg">@SnoopDogg</a>. Thank you for the selfie." Snoop Dogg <a href="https://twitter.com/SnoopDogg/status/1539640849855696897">retweeted </a>a post captioning it solely with his lookalike's namesake. A representative for Fair.xyz did not immediately respond to Insider's request for comment.NFTs surged in popularity last year, with sales buoyed up by the support of A-listers like Snoop Dogg. The artist has previously championed Web3 <keyword id="11893017" type="UNKNOWN" weightage="100" keywordseo="technology" source="Orion">technology</keyword>, <a href="https://www.businessinsider.com/watch-snoop-dogg-new-music-video-crypto-nfts-2022-4?r=US&amp;IR=T">including crypto, NFTs, and the metaverse</a>. His latest music video is set in a "Snoopverse" digital world.The star has also released his own NFTs and has <a href="https://fortune.com/2021/09/22/snoop-dogg-cozomo-de-medici-nfts-crypto-wallet/">claimed to be collecting NFTs under the pseudonym,</a> Cozomo de' Medici.

A Snoop Dogg impersonator labelling himself 'Doop Snogg' fooled a New York NFT conference in a stunt designed to expose fakery in digital art

<ul class="summary-list"><li>A <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> entrepreneur is stuck with his $3 million <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> purchase of <keyword id="11893903" type="UNKNOWN" weightage="60" keywordseo="jack-dorsey" source="Orion">Jack Dorsey</keyword>'s first tweet.</li><li>He listed the NFT for sale at a price of $48 million, but the highest bid he's received so far is about $6,800.</li></ul>Crypto entrepreneur Sina Estavi is struggling to sell an NFT of <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword> cofounder <a href="https://twitter.com/sinaEstavi/status/1511832413973983239/photo/1">Jack Dorsey's first tweet</a> after having shelled out millions to buy the token in the first place.He auctioned the NFT of the tweet for a whopping $48 million, according to <a href="https://www.coindesk.com/business/2022/04/13/jack-dorseys-first-tweet-nft-went-on-sale-for-48m-it-ended-with-a-top-bid-of-just-280/">CoinDesk</a>. As of Thursday morning, the highest bid he received was 2.2 <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, or about $6,856.That's just 0.2% of the $2.9 million that Estavi paid when he <a href="https://www.businessinsider.com/twitter-ceo-jack-dorsey-sell-first-tweet-nft-sunday-2021-3?r=US&amp;IR=T">bought the NFT in March</a>."I think years later people will realize the true value of this tweet, like the Mona Lisa painting," he said then.A year later, his prediction isn't exactly playing out. After listing the token on NFT marketplace OpenSea, Estavi has found the highest bids are nothing even close to the amount he paid, much less to the amount he wanted for it.He told <a href="https://www.coindesk.com/business/2022/04/13/jack-dorseys-first-tweet-nft-went-on-sale-for-48m-it-ended-with-a-top-bid-of-just-280/">CoinDesk</a> and the <a href="https://www.bbc.co.uk/news/business-61102759">BBC</a> that although the deadline he set was over, he might either accept a "good offer" or may never sell it."I think the value of this NFT is far greater than you can imagine and whoever wants to buy it must be worth," he told the BBC."I think someone like Elon Musk could deserve this NFT."<a href="https://www.businessinsider.com/nft-meaning?r=US&amp;IR=T">NFTs, or non-fungible tokens</a>, are unique certificates that prove ownership of digital assets like trading cards, music, images, or even tweets like Dorsey's. Total NFT sales volume has ballooned to <a href="https://markets.businessinsider.com/news/currencies/weekly-nft-sales-decline-crypto-bored-ape-yeach-2022-4">$25 billion</a> over the past year as artists, investors, and entrepreneurs seek to capitalize on the seemingly-prosperous Web3 space. Some experts say the rush to capitalize off the NFT boom has come at the expense of user security, with hacks rampant across marketplaces.Although Estavi owns the digital right to Dorsey's tweet, it is still <a href="https://twitter.com/Jack/status/20">publicly accessible</a> to anyone who can use the internet.Estavi, the founder of two Malaysia-based crypto companies, claimed in a <a href="https://twitter.com/jack/status/1511874906614554632">tweet</a> last week that he planned to donate 50% of the proceeds to poverty relief efforts in Africa.Read more: <a href="https://www.businessinsider.com/investing-strategy-tech-metaverse-megatrends-gen-z-bank-of-america-2022-4" target="_blank" rel="noopener noreferrer">Bank of America's thematics chief breaks down the 8 investing mega-trends he's backing to accelerate rapidly and transform financial markets over the next decade</a>

A crypto entrepreneur bought an NFT of Jack Dorsey's first tweet for nearly $3 million and tried to sell it for $48 million. The top bid is less than $7,000.

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A bug in the world's largest NFT market could have allowed crypto wallets to be hijacked or stolen

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OpenSea confirms hackers made $1.7 million on NFTs stolen in a phishing attack at the weekend

Adam Morgan McCarthy

Meet the crypto 'Bonnie and Clyde': A TikTok rapper who calls herself the 'Crocodile of Wall Street' and her husband 'Dutch'. We look at their alleged links to the Bitfinex hack.

Shalini Nagarajan

A Snoop Dogg impersonator labelling himself 'Doop Snogg' fooled a New York NFT conference in a stunt designed to expose fakery in digital art

Abby Wallace

A crypto entrepreneur bought an NFT of Jack Dorsey's first tweet for nearly $3 million and tried to sell it for $48 million. The top bid is less than $7,000.

Shalini Nagarajan

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