Last week, a link on the infamous graffiti artist’s website. Banksy, announced a work of art as the creator’s first NFT (non-fungible token).
NFT auction debacle
A British collector won the auction for $ 366,000 to buy limited NFT art, before realizing it was fake. A crucial measure of an NFT in the art realm is that the piece includes a unique ‘tokenized’ digital certificate of ownership that can be bought and sold.
page offered by the NFT, Banksy.co.uk/NFT, was taken down immediately after the auction with a statement from the Banksy team saying: “Any Banksy NFT auction is not affiliated with the artist in any way.”
British collector, who goes online and goes by the name @Pranksy, won the auction after bidding 90% more than rival bidders. Pranksy is a Banksy fan and avid NFT collector.
Pranksy expressed a sense of feeling frustrated and “drained” after being taken for more than $ 300,000 worth of cryptocurrency. y were soon relieved that the scammer returned most of the amount at the end of the day. Pranksy believed that press coverage could lead the public to determine the identity of the scammer, and this is what prompted them to return the money. However, at the end of the day, Pransky claims that he still has a low of $ 5,000, as the transaction fee has not been refunded.
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Despite being scammed, Pranksy expressed his gratitude: “I feel very fortunate that many others in a similar situation with less scope would not have the same result.”
Later, Banksy’s team issued a statement saying: ” artist Banksy did not create any NFT artwork.” But that still left questions about how the site had been compromised.
Warnings are ignored
Apparently, a cybersecurity expert had warned Banksy’s team that the website was flawed and could be exploited. However, the warning was ignored. According to Sam Curry, founder of security consultancy Palisade and whitehat hacker, last month he first mentioned the discovery of vulnerabilities on Banksy’s site on the social media platform Discord.
“I was on a security forum and several people were posting links to the site. I clicked on one and immediately saw that it was vulnerable, ”Curry explained. He contacted Banksy’s team by email, an attempt that was allegedly ignored.
Curry kept trying to reach Banksy’s team on alternative platforms, including Instagram. However, his effort stopped and he never received a reply. Before the Curry reveal, the first report was initially made via email on August 25.
Curry added that the website’s glitches have since been fixed. vulnerability allowed a stranger to create arbitrary files on the website to post third-party pages and content.
Another trick from Banksy?
Some opinions have led to speculation that the incident may be just another Banksy stunt.
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teacher. Paul Gough, Dean and Vice Chancellor of Bournemouth University of the Arts, says timing, art style and staging don’t add up,
“I don’t see it as a Banksy joke. timing does not work well for me, the context does not seem appropriate. He just did his’ Spraycation ‘stunt where he bombed 10 sites in East Anglia and posted a video on social media about it’.
Gough also added that the fake artwork has departed from Banksy’s iconic style.
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