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Landmark court decisions help recover stolen NFTs, but enforcement bumps remain
Difficulties due to how assets may be traded in an anonymous and unregulated fashion.
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A photo illustration of cryptocurrency Ethereum with the Bored Ape Yacht Club non-fungible token collection.
PHOTO: REUTERS
Ben Chester Cheong
In May 2022, American actor Seth Green lost four non-fungible tokens (NFTs) worth more than US$300,000 (S$405,000) in a phishing attack. One of the stolen NFTs, Bored Ape Yacht Club (BAYC) No. 8398, was sold to someone with the pseudonym DarkWing84.
DarkWing84 claimed that he bought the work in good faith and did not know it was stolen. Mr Green eventually paid 165 ether to reclaim BAYC No. 8398.
