Cryptocurrency

"OpenSea collector 'pulls the rug' on NFTs to highlight arbitrary value"

2021-03-09 [vendor] NFT artist creates [chain] ethereum
Primary Source ↗
Blockchain(s) Ethereum

Incident Details

NFT artist “neitherconfirm” created a collection of 26 NFTs of stained glass-style computer-generated art. After release, they changed the art for each NFT to a picture of a rug, an apparent reference to “rug pulls”. The artist wrote on Twitter, “Nobody got hurt. It is pretty easy to change the jpg, even if it does not belong to me or it is on auction. I am the artist, my decision, right? A thread from somebody making his living with art irl about the value of NFTs… All discussions about the value of NFTs are meaningless as long as the token is not inseparable from the artwork itself… What is the meaning of creating an unforgeable token on a highly secured network if somebody can alter, relink or destroy your possession? As long as the value of your artwork is reliable on a central service you do not own anything.”

Technical Details

Initial Attack Vector
Exit scam / rug pull
Vendor / Product
NFT artist creates

Timeline

  1. 2021-03-09 Breach occurred
  2. 2021-03-09 Publicly disclosed