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Metaverse News

Metaverse bridge-building, an elaborate Apes scam, and more

Gyeongbuk Province in South Korea has said that it wants to use Web3 technology to improve its economic ties with Vietnam.

In a Dec. 19 announcement, the governor of the province, Lee Cheol-woo, said that the metaverse project would focus on “growing economic, cultural, commercial, and people-centered contacts with Vietnam.”

In June, the province said it would spend $13.8 million to become a center for innovation in the metaverse. This was done to help the local economy grow.

Since the beginning of 2022, South Korea has been very busy with Metaverse development, and it wants to be the fifth most Metaverse-ready country in the world. It has set aside $186,7 million to make Expanded Virtual World, a platform for the whole metaverse.

14 Bored Apes stolen in phishing scam

In a long post on Dec. 17, a cybersecurity analyst who goes by the name Serpent explained how a scammer allegedly stole 14 nonfungible tokens (NFTs) from the Bored Ape Yacht Club (BAYC) through a month-long social engineering scam.

The analyst said the scam started when the victim was asked to license the intellectual property rights for the Apes. The scammer said he or she worked as a casting director for “Forte Pictures” on a movie called “The Return of Time,” which had something to do with NFT. Although Forte Pictures is a real corporation, he claimed the alias employed by the suspected scam artists was fictitious (and not involved).

They placed a bid for the NFTs and directed the victim to a bogus NFT platform where they were requested to “sign the contract,” where the wallet drain occurred.

“The scam website displayed a gas-less Seaport signature, which they claimed he needed to sign for the license. However, the signature actually created a private bundle listing of all of the victim’s BAYCs to the scammer for 0.00000001 ETH,” Serpent said.

“The scammer’s wallet, funded by Secret Network, ran the match orders function to complete the private sale. The scammer then accepted the highest WETH offers on all of the NFTs, then converted the 852.86 WETH to 1.07m DAI,” the analyst added.

Manchester United Launch NFT collection

Manchester United Football Club (Man U) has released its first collection of non-fungible tokens (NFTs) on the Tezos blockchain.

According to the collections website, the initial drop was free and fans only needed to sign in with their Tezos wallets to receive an NFT.

Trump NFT collection

Social media sleuths are investigating whether the NFT collection project of former U.S. president Donald Trump plagiarized photos from other sources. On December 15, the former president released a collection of 45,000 NFT trading cards picturing him in golf clothes, hunting gear, and a superhero costume, among others. In the days following the devaluation of NFTs, numerous Twitter users conducted reverse image searches on Google and discovered similarities between NFTs and photos from Amazon and Shutterstock, among others.

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About Tina

Metaverse bridge-building, an elaborate Apes scam, and moreTina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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