One enthusiast bought BAYC for $116,000 and was scammed two hours later. Cryptocurrency sleuth ZachXBT tweeted out the investigation on Saturday. According to the information, after the theft, the NFT was quickly sold, then the funds were withdrawn through the RenBridge cryptocurrency bridge.
Using RenBridge is one alternative to using a crypto mixer. This method may become more and more attractive now that Tornado Cash is under the sanctions of the regulators.
By the way, Elliptic previously made a report that claimed that huge amounts of money were poured through RenBridge in the last two years. Elliptic has estimated that there has been at least $540 million worth of crypto assets leaked from theft, fraud, and various other criminal activities since 2020.
The recent BAYC theft, although it set a record as the fastest among NFTs, is not the only one this month. August saw a significant number of NFT thefts, many of which were linked to Bored Apes. This phenomenon has already become an entire industry.
In early August, one enthusiast, Steven Galanis, reported the loss of Bored Ape and other NFTs as a result of using AppleID. The scammer tried to withdraw funds through the Binance cryptocurrency exchange.
Later, another trader lost his Bored Ape in a bad trade. He gave the token to the thief via NFT Trader and received 26,500 counterfeit Ape coins in return.
Finally, the scammers used a phishing scam that resulted in them stealing four Bored Apes totaling $500,000. As it turned out, among the stolen tokens was the same Bored Ape, owned by Stephen Galanis. The scammers tried to withdraw funds through ChangeNow.
