Tech Talk

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.

A photo illustration of cryptocurrency Ethereum with the Bored Ape Yacht Club non-fungible token collection. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

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. 

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.