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Breaking Down How s27 Lost $567K Worth of NFTs in a Single Click

Quick take:

  • An unknown user named s27 lost their bubble gum ape and matching mutants to a scammer.
  • The current floor price of the NFTs is $567k.
  • A Twitter analyst that tracks ape listings broke down the entire scam in a thread.

In what appears to be a never-ending spree of NFT scams, another victim loses $567k. The bored ape holder who goes by the name s27 is the one who fell for the bait.

The scam was tracked by a Twitter user that goes by the name 0xQuit, who tracks ape listings that sell under the floor price on his Discord server. The analyst states that when he receives such pings, it's either of two things: 

  1. someone is panic selling 
  2. another victim of a scam

0xQuit said he immediately knew that it was the latter once he received the notification.

Scammer’s basic editing skills made him $567k

Initial thoughts of 0xQuit were that the user was a victim of another scam tagged as “animate your ape.” But later, his observation made him realize that he actually transferred his ape from his vault to the scammer’s wallet.

The user made the trade on the swapkiwi platform. The victim himself initiated the transaction, only to lose his apes shortly after. 0xQuit decided to try kiwiswap to see if something is fishy with the platform.

His observation concludes that there is nothing obviously wrong with the platform. The contract is safe, but the major flaw lies with the UI. As shown below, every NFT will have a verified ticker on the image, which authenticates that it is a verified collection.

The scammer used his editing skills to add the verified checkmarks to the image itself to make it look authentic. In what appears to be a simple scam implemented perfectly, the user lost his valuable NFTs.

0xQuit warns users to stay safe and not fall for scams if they sound too good to be true. The entire space is relentless, and the scammers are trying their best to navigate around to loot assets from users.

The information provided on DecentReviews does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Do not treat any of the websites content as such. DecentReviews does not recommend that any cryptocurrency or blockchain asset should be bought, sold, or held by you. Conduct your own due diligence and consult your financial advisor before making any investment decisions.

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