NBA TOP SHOT

DESCRIPTION OF EVENTS

"An NFT is a one-of-a-kind, non-fungible, cryptographic token representing a unique digital asset for which there is no copy or substitute. An NFT cannot be substituted for another NFT as each NFT is distinctive and unique in some way. An NFT is not a medium of exchange and is not convertible virtual currency."

"NBA Top Shot is a first-of-its-kind collectible game that allows people to collect, trade, and sell their favorite NBA highlights as digital tokens. These highlights can be collected to complete timed challenges, arranged into showcases, and eventually carried over into the forthcoming game experience!" "NBA Top Shot is the home for NBA fans to collect Moment™ NFTs of their favorite stars and team. Moments are Online Digital Collectibles, or NFTs, of a player's highlight." "Each moment is secured by the blockchain, meaning your Moment is Unique and Licensed by the NBA and NBPA."

"Signature moves, game-winning shots, jaw-dropping blocks, unbelievable jump-out-of-your-seat plays. When you build your NBA Top Shot collection, you get to own and show off the highlights that matter." "Collect the Moments from this year's recognized NBA stars. Build a collection of Moments from players you think will be rising stars next season!" "It's a new era in fandom. And it's about more than repping your favorite teams and players. For the first time, you can own the NBA's greatest highlights. Ready? You can get your first pack instantly."

"NBA Top Shot is a crypto-collectible consumers can purchase as a non-fungible token (NFT). Each collectible is tied to a blockchain -- a digital ledger similar to the blockchains used for digital currencies like bitcoin. This effectively gives each NFT a unique and non-hackable certificate of authenticity. So even if somebody makes a perfect copy of the highlight video, it will instantly be recognizable as a fake."

"Each Limited Edition collectible is marked at cration with a unique serial number, with guaranteed scarcity and protected ownership guaranteed by the blockchain. When you own #23/49 of a legendary LeBron James dunk, you're the only person in the world who does-unless you choose to trade or sell that Moment to another collector. NBA Top Shot is an officially licenced collectible of the NBA and the NBPA, with the history of each Moment verified forever on-chain."

"The scammer used a Webhook to create a URL to send msgs to the Discord." "The 19th @CreatureToadz & NBA Topshots got hacked the same way: WebHook+namecheap sites." "[A]t 9:05pm EST NBA Topshot discord announced an NFT mint on etherium for .2 ETH with a link to click. However the link was malicious."

"Creat[ur]eToadz wasn't the first to get hacked this way. IMX Bears, MaskByte were targeted before Toadz. NBA topshots was targeted the same day as Creat[ur]eToadz."

"NBA Topshots, MaskByte, and other NFT discord projects were compromised in a similar fashion."

"As of 9:09, the official Top Shot Discord says "The Discord entry is currently closed."

"14.4 ETH stolen jeez."

NBA Top Shots is a collectible platform where users can purchase NFTs representing game-changing moments in basketball games, with an official license arrangement with the NBA. On the evening of October 19th, the discord channel was attacked via a webhook and a malicious link was placed on the channel. Those who visited thought they were getting a great deal on NFTs when in reality they were sending their money to a scammer. In total, 14.4 ETH was taken. There do not appear to be any signs of recovery or assistance for affected users.

HOW COULD THIS HAVE BEEN PREVENTED?

Never click links directly from a discord channel. Always go through the official website.

Projects need to pick their moderator teams with care, train them, and not give them any unnecessary permission levels. Greater education for all new investors would help reduce the risks of similar attacks.

Check Our Framework For Safe Secure Exchange Platforms

No Title (Jan 10)
@NFTherder Twitter (Jan 27)
@NFTherder Twitter (Jan 27)
NBA Top Shot (Feb 1)
https://support.nbatopshot.com/hc/en-us/articles/4404115400595-Top-Shot-101-What-is-NBA-Top-Shot- (Feb 1)
NBA Top Shot: 2021 NBA Champion Milwaukee Bucks - YouTube (Feb 1)
NBA Top Shot (Feb 1)
NBA Top Shot | Get in the Game  (Feb 1)
https://www.cnbc.com/2021/02/28/230-million-dollars-spent-on-nba-top-shot.html (Feb 1)
@nbatopshot Twitter (Feb 1)
https://dappradar.com/flow/collectibles/nba-topshot (Feb 1)
What is NBA Top Shot? Explaining the Blockchain NBA highlight collectables | Sportingnews (Feb 1)
https://www.nytimes.com/2021/05/13/business/nba-top-shot-moments.html (Feb 1)
Top shot was just hacked : nbatopshot (Feb 1)
Redlion News (Feb 1)
https://coinmarketcap.com/currencies/ethereum/historical-data/ (Dec 21)
@ElDumboTS Twitter (Feb 5)

More case studies

CreatureToadz
NFT Theft

PancakeHunny
Contract Incident