NiftyNoon: The Controversy of the “Made by Apes” Yuga Labs Data Leak
Sadly some Bored Ape holders have had their private information compromised (August 16, 2023)
Nifty Thought
Anonymity is a core principle in crypto that has persisted since its inception with even the true identity of Satoshi Nakamoto himself remaining a mystery. On one hand, this anonymity can be quite beautiful. There is little room for real world biases surrounding factors such as race and gender when your counterparties are anonymous cartoon animals. Conversely, anonymous identities have also enabled bad actors to engage in nefarious behavior with limited consequences. Sadly, a compromise in the Yuga Labs “Made by Apes” initiative has forced a decision upon unlucky Bored Ape NFT holders. An issue with an API used by the team (which has now been fixed) is the root cause of this fiasco. Yuga Labs has offered fraud and identity protection to people impacted by this but this does little to address the operational security and privacy concerns resulting from the leak.
Although the extent of the damage is not yet known, this is a deeply troubling situation as more companies (particularly those affiliated with Animoca Studios) begin asking users to “privately” reveal their personal identities. Private KYCs can be an effective solution to allow some online anonymity while also holding bad actors accountable. However, it falls apart if the privacy of this KYC can not be trusted. Yuga Labs is one of the most respected and reputable firms in the space. In this case, they came up short with that trust. Moving forward, I hope all NFT and crypto companies dealing with private user data will take extraordinary care to ensure everything remains private and secure.
Highlighted News
Personal details of ape owners who signed up for the ‘Made by Apes’ initiative was being leaked:
https://twitter.com/zachxbt/status/1691514780119343104?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Project and Community News
Second wave of ApeFest tickets for waitlisted have been pushed:
https://twitter.com/boredapeyc/status/1691230938779303936?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Introducing the Denizens of Zenacademy:
Heart+Craft, in collaboration with @JordanLyall, on @ProhibitionArt August 24th:
https://twitter.com/artonblockchain/status/1691559611269067047?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
LooksRare now streams live data and updates to collection and activity pages:
https://twitter.com/looksrare/status/1691463250884587521?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Around 7% of DeGods supply is in the hands of forced sellers:
https://twitter.com/cirrusnft/status/1691461100330790914?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Market cap of major PFP projects is down around $2.2 billion in the past six months:
https://twitter.com/punk9059/status/1691279966737170432?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Massive 90 ETH half-year loan at 15% APR just went through on this 1/1 Xcopy:
https://twitter.com/cirrusnft/status/1691561135659786558?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Quick Stats:
Blur ETH Daily Volume: 7,662 ETH (▼ 7.56%)
OpenSea ETH Daily Volume: 1,774 ETH (▲ 7.26%)
BTC: $29,175.05 (▼ 0.70%)
ETH: $1,825.68 (▼ 0.85%)
Solana: $23.46 (▼ 5.70%)
Polygon: $0.63 (▼ 6.68%)
NFT Daily Winners:
🏳️🌈 Chromie Squiggles: 10.70 ETH (▲ 4.39%)
⛰️ Otherdeeds: 0.59 ETH (▲ 3.32%)
🌈 Doodles: 1.42 ETH (▲ 1.78%)
👩🏻 Milady Maker: 4.40 ETH (▲ 0.07%)
NFT Daily Losers:
🚬 CryptoPunks: 47.90 ETH (▼ 0.19%)
🧟 Mutant Ape Yacht Club: 5.85 ETH (▼ 0.56%)
🦉 Moonbirds: 1.47 ETH (▼ 0.80%)
🦧 Bored Ape Yacht Club: 28.56 ETH (▼ 1.01%)
🧬 Clone X: 1.40 ETH (▼ 1.15%)
⛩️ Azuki: 4.85 ETH (▼ 1.48%)
🐧 Pudgy Penguins: 4.00 ETH (▼ 2.03%)
🏴☠️ Captainz: 4.60 ETH (▼ 6.12%)
🐈⬛ VeeFriends: 1.69 ETH (▼ 8.85%)
Notes:
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