DeFiance Capital founder lost $1.6 Million in hot wallet hack

March 22, 2022

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The cyberpunks took on one of the hugest names in DeFi, but may have bitten off more than they could take as Arthur_0x cautioned, that they messed with the wrong person. Founder of important crypto investment company DeFiance Capital, Arthur_0x, has endured a hack on one of his hot wallets arising in the loss of more than $1.6 million in nonfungible tokens NFTs and crypto. In an enormous show of assistance, the crypto population has arrived at his assistance to help obtain the stolen items as he begged people to blacklist the cyberpunk’s wallet.

NFT group member Cirrus went as far as purchasing 2 of the stolen Azuki NFTs and agreeing to return them to Arthur at price. Cirrus said Cointelegraph today that he found out they have tampered, and instead of peddling them for profit like the other communities. He said he would sell them back to him at price to assist him. A rug pull is when a crypto or NFT project suddenly closes down and the value of their token or NFT plummets without prior warning. In most cases, rug pulls are confirmations of a scam. Overall Arthur occurs to have lost 78 NFTs from 5 compilations, mostly Azukis. If Arthur had used a hardware wallet, differently known as a cold wallet, he still may not have been retained from this attack. Not like a hot wallet, a hardware wallet is not ever related to the system. This aspect can keep one’s key and seed word safe from intrusion.

Nonetheless, Arthur understands the safety violation occurred due to a transaction he made on-chain which may also have jeopardized the seed word or personal key from a hardware wallet.NFT and crypto trickeries are always a threat, so investors should take outstanding safety precautions with their assets.


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