A hacker stole Hollywood actor Bill Murray’s funds following an NFT (non-fungible token) charity auction that raised 119.2 ether (about $185,000).
The hacker started to drain Mr Murray’s personal wallet at around 7pm eastern time on Thursday, news site CoinDesk reported, citing on-chain data from Etherscan and details from Mr Murray’s team.
The unknown individual also attempted to take non-fungible tokens from the actor’s personal collection. However, Mr Murray’s wallet security team from NFT consultancy Project Venkman stepped in to shield the actor’s NFTs by moving his high-priced JPEGs – including a Damien Hirst NFT, two CryptoPunks, a Pudgy Penguin, a Cool Cat and numerous Flower Girls – to a pair of safehouse wallets, the report said.
NFTs are digital avatars of artworks and collectibles. They can take the form of digital work, virtual lands, a domain name or even weapons in a video game.
Ownership of these digital assets is recorded on a blockchain, or digital ledger. But, unlike currencies, in which every token is of equal value and can be swapped for any other, NFTs have unique qualities that stop them from being interchangeable or fungible.
In 2021, an NFT of Twitter co-founder and former chief executive Jack Dorsey’s first tweet sold for about $3 million, while Mike Winkelmann, the digital artist who goes by the name Beeple, made headlines in March last year when he sold an NFT for $69m.
The report said the hacker made off with 119.2 ETH the actor had raised just one day before for a charity auction and sent the stolen funds to a wallet address tied to the crypto exchange Binance and Unionchain.ai.
Mr Murray’s team filed a police report and is working with crypto analytics firm Chainalysis to bring the attacker to justice, according to the report. The culprit has yet to be identified.
Last month, hackers stole $613 million in digital coins from token-swapping platform Poly Network, only to return $260m worth of tokens less than 24 hours later in one of the biggest cryptocurrency heists.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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