Home Latest News Here's How Solana's Community Scammed a Scammer – BanklessTimes

Here's How Solana's Community Scammed a Scammer – BanklessTimes

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The Solana community joined forces to give a scammer or a group of scammers a taste of their own medicine and retrieve some stolen NFTs, CoinTelegraph reported today.
Cybercriminals hacked cross-chain gaming development studio Uncharted NFT, depleting 109 user wallets of their balances.
They made away with 25 World of Solana (WOS) NFTs, including a few extremely valuable and rare digital collectibles, and more than 150 SOL tokens.
The NFT collection featured 2,222 unique heroines, with the current floor price being 2.03 SOL. The most expensive avatar is worth 123 SOL.
After the attack, the community decided to recover the losses. The WOS team got in touch with one Cyberfrog on Twitter, an entity that’s their development partner, and raised funds on the stolen NFTs to 98%, up from the base rate of 5%.
The developer asked the community to watch MagicEden, Solana’s NFT marketplace, for any new listings. It took just two days for the cybercriminals to fall for the ploy. The community bought back 15 NFTs.
Sniping is where you wait until the very last moment of an NFT auction to make your bid, which ends up being the winning one. People apply this strategy to keep other NFT bidders from offering more money before the end of the auction.
Ultimately, the community got the other 10 sniped NFTs back. The 25 WOS NFTs were returned to the rightful owner. The events were detailed in a Twitter thread.
The Solana community asked its members to “always use a burner wallet and be careful when minting.”
This is the second time the small NFT community has given criminals a taste of their own medicine.

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An Open Source activist, who pursues his passion for tech blogging. In early years of his life, he worked as market analyst for a number of companies. Martin has been writing reviews and articles for a local magazine for last five years.