Banksy warned website flaw nft scam

Then, the artist’s spokesperson told the BBC that there weren’t any NFT actions associated with Banksy and that the artist hadn’t “created any NFT artworks.” At that point, Pransky more or less accepted that he’d been scammed.

He wasn’t the first. We’ve seen sellers try to pass off other artists’ work as their own before, and if this situation involved pretty much any other artist, there likely wouldn’t be any question if this was a scam — especially given the weirdness happening with duplicates. Pranksy told The Verge that another scammer had created a duplicate NFT, then gifted it to him. The other person used a similar username to the original seller, minted a few other NFTs in the same style, then sent one to Pranksy. Since then, a torrent of other fakers popped up, minting the same images as NFTs, sending some to Pransky, and listing the other ones for sale.


Pransky’s prominence in the NFT community mixed with his name makes him an ideal target.”

It seemed to fit, but the case of the fake Banksy NFT never ceases to amaze.

Security Experts Warned Banksy About His Website’s Vulnerability

Luckily for us,the BBC is on the case. They interviewed Sam Curry, “a professional ethical hacker from the US and founder of security consultancy Palisade.” There seem to be too many “ethical hackers” in this story, but ok… Curry told them:

“I was in a security forum and multiple people were posting links to the site.
I’d clicked one and immediately saw it was vulnerable, so I reached out to Banksy’s team via email as I wasn’t sure if anyone else had.

“They didn’t respond over email, so I tried a few other ways to contact them including their Instagram, but never received a response.”

These things happen.

The timing for me doesn’t work right, the context doesn’t feel appropriate. He’s just done his ‘Spraycation’ stunt where he bombed 10 sites in East Anglia, and put out a video on social media about it.

“That is a pretty major stunt and takes a lot of organising by a very professional crew, so I just don’t think the timings right here so soon after that.”

Prof Gough also says the artwork style itself would be a major departure from Banksy’s iconic spray-paint stencil style.

Some have compared the hack to the infamous stunt where Banksy shredded a piece of art in a live auction.

Prof Gough says the NFT sale is very different.

“There’s an element of theatre in the auction house.

Banksy warned website flaw nft scambi

And the market has continued to surge, seeing nearly $1 billion in sales in August alone, according to data from the NFT tracking site NonFungible.

Though some have warned that the market is a huge bubble, and the value of NFTs could come tumbling down at any time.

Major companies, including Visa, have jumped on the trend, as well as celebrities and internet has-beens have jumped on board, trying to cash in on the new form of ownership that’s fueling billions in transactions.

Even hotel heiress Paris Hilton announced in June that she invested in Origin Protocol, a decentralized platform that’s focused on launching NFTs and joined the company as an adviser.

“I see NFTs, or non-fungible tokens, as the future of the creator economy,” Hilton said in an April blog post.

Banksy warned website flaw nft scamec

In an ironic turn of events, Pranksy (an avid NFT collector) was recently tricked into purchasing a fake BanksyNFT for $336,000 USD worth of Ethereum. Initially, there was a link on Banksy’s official website that redirected audiences to the NFT marketplace, OpenSea, which the collector hurried over to outbid for a work, titled Great Redistribution of the Climate Change Disaster.

Subsequently, the link was then removed on Bansky’s website, causing the collector to question the purchase.

My ETH from the #Banksy#NFT purchase was just returned to me, ethical hacker proving a point?https://t.co/idDNEsEIhK

— Pranksy ? (@pranksy) August 31, 2021

Remarkably, the fraudster refunded the money (minus the $5,000 OpenSea transaction fee), which Pranksy took to Twitter describing them as an “ethical hacker” — a real oxymoron of sorts.

Banksy warned website flaw nft scamp

He’s just done his ‘Spraycation’ stunt where he bombed 10 sites in East Anglia, and put out a video on social media about it.

“That is a pretty major stunt and takes a lot of organising by a very professional crew, so I just don’t think the timings right here so soon after that.”

Here’s the Spraycation video, dated August 13th, 2021:

It does seem like a “major stunt.” Does that mean that the fake Banksy NFT operation is out of the question? Or did Banksy went to work immediately after finishing his spraycation? Did the elusive graffiti artist strike again in the digital realm?

Second at bat is John Brandler, a Banksy collector, who provides another reason why the situation is not an original Banksy:

“Banksy’s stunts are not malicious and they don’t hurt people.”

Good point, but let’s be honest, the incident didn’t really hurt Pranksy.

A couple of weeks ago, a hacker with a heart of goldsold a fake Banksy NFT for 100 ETHand then gave the money back. They advertised the auction through Banksy’s official site.
If the NFT was fake, someone hacked that site. Which seemed unlikely. Also, there is the issue of the alias that the scammed NFT collector uses.
Pranksy, a play on words referencing the elusive graffiti artist Banksy mixed with the word “prank.” Which is what this whole situation was, a prank.

Too many coincidences. Suspicious, we posed our theory:

“Was Pranksy targeted by Banksy and his team? If Banksy wanted to create worldwide headlines and comment on the NFT boom at the same time, a notorious art collector was the missing ingredient.

Unlike the hacker who stole and then returned the Poly Network funds, whoever it was behind this didn’t leave any notes when sending the Ethereum back, making it difficult to tell what their motives were. Pranksy told me that he hadn’t been in contact with the scammer, apart from adding the person who had originally dropped the link in his Discord and following them on Twitter.

Getting a refund after a blockchain scam is not the norm.
The system is designed to transfer funds from one wallet to another permanently, and there’s really no feasible way to get funds back unless the person you sent them to decides to return them.

Just as we saw after the Poly Network attack, there have been accusations on Twitter that this whole thing was a publicity stunt.

Just days before a hacker sold Artist Banksy’s fake NFT, a cyber-security expert had warned the artist’s team of security flaws of the website.NFT collector Pranksy had bought the Banksy NFT– the artist’s first – via his website for $366,000.

However, a scammer had hacked the artist’s website and the NFT was fake. That’s not all – in a weird turn of events, the hacker returned the amount sans the transaction fee of about $5,000.

Banksy NFT Scam: Latest developments

According to reports, a cyber-security expert had warned Banksy’s team seven days before the debacle unfolded.

However, the team took no action.

“I was in a security forum and multiple people were posting links to the site,” Sam Curry, founder of security consultancy Palisade, was quoted byBBC.

On Tuesday a piece of art was advertised on Banksy’s official website as the world-renowned graffiti artist’s first NFT (non-fungible token).

A British collector won the auction to buy it, before realising it was a fake.

A cyber-security expert warned Banksy that the website could be hacked, but was ignored.

With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold.

They do not generally give the buyer the actual artwork or its copyright.

Sam Curry, a professional ethical hacker from the US and founder of security consultancy Palisade, said he first heard that the site could have a weakness on the social network Discord, last month.

Multiple warnings

“I was in a security forum and multiple people were posting links to the site.

At best, it was just on purpose ugly! Because once the artist seems to have confirmed the authenticity of the work, and when you buy for speculative purposes, all means are good to rationalize. We can imagine that the artist does this to denounce this market, consumption, etc.

It doesn’t really matter, since most of these collectors think in the first place at the margin that they will be able to make on the resale of the NFT.

In this case, the avid collector who now has to bite his fingers is Pranksy. A name surprisingly reminiscent of the artist’s Besides.

The latter claims to have seen the “Banksy’s Very First NFT” offer on OpenSea. The work in question, which is called “Great Redistribution of the Climate Change Disaster” – was undermined (created) by a certain Gaakmann.

I’d clicked one and immediately saw it was vulnerable, so I reached out to Banksy’s team via email as I wasn’t sure if anyone else had.

“They didn’t respond over email, so I tried a few other ways to contact them including their Instagram, but never received a response.”

Pransky later took to Twitter to deny they had orchestrated a stunt, as some seemed to believe.

“I would never risk a future relationship with Banksy or any fine artist by hiring someone to hack their website and then buying an #NFT from myself, what an unusual day,” they wrote.

And if it was a stunt then it wasn’t organised by Banksy either, according to expert Professor Paul Gough.

The principal and vice-chancellor of Arts University Bournemouth in the UK told the BBC he just doesn’t see it as a Banksy prank.

“The timing for me doesn’t work right, the context doesn’t feel appropriate.

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