Topline
Cybercriminals who hacked nonfungible token artist Beeple’s Twitter account stole $438,000 value of cryptocurrency and NFTs from his followers Sunday, after impersonating the artist and claiming to have launched a brand new line of digital artwork with the designer Louis Vuitton.
Mike “Beeple” Winkelmann speaks onstage at “Featured Audio system: BEEPLE & Laurie Segall” through the … [+]
Getty Pictures for SXSW
Key Info
The hackers appeared to realize management of Beeple’s account for a number of hours on Sunday, throughout which period they modified the artist’s Twitter bio to promote a raffle for a faux assortment with Louis Vuitton–with which Beeple collaborated in 2019—and posted two messages with hyperlinks that really directed customers to a phishing scam, in keeping with ArtNet.
A phishing hyperlink within the first of two tweets posted throughout Beeple’s account throughout that point introduced in about 36 ether, or $73,000, whereas a second scammed the artist’s followers out of $365,000 value of assorted cryptocurrencies and NFTs.
When followers clicked by both of the 2 hyperlinks, the assault would drain crypto and NFTs from customers’ cryptocurrency wallets.
Beeple confirmed he had been hacked in a while Sunday, including that “something too good to be true IS A F*CKING SCAM.”
It’s nonetheless unclear who hacked Beeple’s account, or if the matter is beneath investigation.
Key Background
As cryptocurrency and NFTs have grown in recognition, scams concentrating on the brand new industries have abounded. Greater than $1.3 billion worth of crypto was stolen simply within the first 4 months of 2022, in keeping with a report by Atlas VPN. Final month, a consortium of world tax regulators that features the Inner Income Service warned of the rising threat of fraud and cash laundering inside the NFT area.
Tangent
Beeple, whose actual identify is Michael Winkelmann, helped kick-start the NFT mania final yr when certainly one of his works bought for a record-breaking $69.3 million throughout an public sale at Christie’s. It stays the most costly NFT ever bought and the third costliest art work by a residing artist. Earlier this month, he collaborated with Madonna on a collection of controversial NFTs that featured a three-dimensional view of the 63-year-old singer nude primarily based on full physique scans. One of many three was snapped up by artwork seller Adam Lindemann for about $146,000.
Additional Studying
Beeple NFT Sells For $69.3 Million, Turning into Most-Costly Ever (Forbes)
Madonna Defends Her Nude NFT Collaboration With Beeple (Forbes)
IRS And International Tax Enforcers Warn NFTs Pose Rising Cash Laundering Dangers (Forbes)
