BAYC Floor Price Surges to 69.5 ETH, Surpassing CryptoPunk, while NFT Owners Continue to Lose them in Hacking Incidents

Gaurav Roy

A collection of Bored Ape Yacht Club (BAYC) NFTs worth $2.2 million have been stolen by hackers. 

“I been hacked. All my apes gone. this just sold please help me,” NFT collector Todd Kramer said in a now-deleted tweet.

NFTs or non-fungible tokens are unique blockchain-based tokens that prove ownership of digital items such as images, audio, and videos. BAYC is currently one of the most popular profile picture (PFP) NFTs. There are only a total of 10,000 unique Bored Ape NFTs on the Ethereum blockchain. 

This week, rap artist Eminem was the latest celebrity to join the NFT bandwagon as he purchased his first BAYC for 123.45 ETH worth $452,000. Eminem has also set the ape as his profile picture on Twitter.

Another celebrity joining in sent the BAYC’s floor price surging to 69.5 ETH. The floor price is the lowest a BAYC is currently available in the market. With this, the BAYC floor price has surpassed that of OG NFT CryptoPunk’s, which is at 65.9 ETH.

Much like the prices, the sales volume has also increased, with the 7-days sales volume surging 97% to $84.8 million, according to BAYC’s popularity has boosted its sister project Mutant Ape Yacht Club’s (MAYC) sales to $94.6 million.

While BAYC’s popularity is on the rise, so has been the number of them getting stolen. Every other day, someone is losing their BAYC, just like Kramer, who reportedly clicked on a phishing link.

Just this week, Raghav Gupta, co-founder of NovaDAO, also stated that his apes were stolen. 

(Image Source)

Gupta reached out to OpenSea and asked them to freeze the NFTs only to reverse his decision later on after realizing that it is “against the ethos of decentralization.”

Unlike Gupta, Kramer retrieved several of his ape NFTs after OpenSea reportedly froze the NFTs when the hacker put them up for sale. Kramer then took to Twitter to share that he had learned his lesson and that he should have used a “hard wallet” to secure his digital assets.

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