Call 'em a "pyramid scheme" or the wave of the future (I lean towards the former) but NFTs are here to stay. Though, at the rate that Bored Ape Yacht Club (BAYC) collectibles are being stolen, they may not last much longer.

For those not keeping track, I don't blame you.

With an adidas collab in the bag, the Bored Apes are one of the most popular (and priciest) NFT collections on the market, as inexplicably popular as the Cryptopunks before them.

These static monkey pictures occasionally rake in the equivalent of a couple million dollars' worth of Ethereum, the NFT trader's cryptocurrency of choice. Even Eminem got in on the ape action, for some reason.

All this hype apparently makes the BAYC NFTs too desirable for their own good.

Since mid-December, there've been more than a few reports of BAYC collectors' prized chimps being swiped both inadvertently and on purpose, culling millions of dollars' worth of NFTs from their "owners" (adding quotes because, I mean, these are .JPEGs we're talking about).

There's essentially two types of Ape theft: accidental, wherein an NFT resale site like Rarible accidentally lists an Ape for sale even though it's already been purchased; and malicious, wherein a hacker nabs a cryptocurrency wallet by using a scam like a phishing email, for instance.

Of course, these NFT thefts have been widely mocked.

The irony of these collectors celebrating the deregulated nature of their NFTs and cryptocurrencies, then begging for a centralized platform like Opensea to course correct some mistakes hasn't been lost on Twitter at large.

In the end, some folks got their precious simians back, some didn't. Perhaps there's a lesson to be learned from all this.

Securing your crypto wallet sounds like a good idea, sure, but perhaps it's even better to just avoid ever getting into the market at all.

What To Read Next

*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.