The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
Another interpretation is that it’s all an insurance scam were something worthless is “stolen by hackers” and then claimed to be worth millions for the insurance claim.
But surely nobody in the “well known as impeccably honest” NFT world would ever do something like that!
Removed by mod
It wouldn’t be the first time that somebody who should’ve known better gets taken in by hype.
That said, I agree it’s unlikely.
“If some idiot wants to pay for it…”
You can get “cybersecurity insurance”, but that usually has more holes than swiss cheese. Maybe an umbrella business policy might cover anything over a certain amount ($1,000).