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02/23/2022

NFT MAN SUES FOR $1 MILLION AFTER HIS PRECIOUS APE IS STOLEN

The Byte

OpenSea, the largest digital marketplace for NFTs, is facing a $1 million lawsuit from a collector who says he lost his Bored Ape NFT to hackers because of a known security flaw the marketplace failed to patch, Decrypt reports.

The plaintiff, Texas resident Timothy McKimmy, is seeking a cool million in damages after his prized possession was sold for a measly 0.01 ETH, roughly $26 — which is well below market price, with Bored Apes frequently selling for hundreds of thousands.

McKimmy claims he never actually put the Bored Ape on sale in the first place, according to a complaint filed with a federal court.

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