April 1st might be April Fools but nope, this is not a joke. Pop superstar Jay Chou revealed that he fell victim to a phishing scam. The scammer ran off with his NFT (non-fungible token) from the Bored Ape Yacht Club, featuring a profile pic of a cartoon ape which was gifted to Jay by Jeffrey Hwang Licheng of the Taiwanese hip hop group Machi in January of this year. The damage? More than half a million USD. The stolen NFT quickly switched hands at the NFT Marketplace LooksRare first for 133 ether (ETH) and then later on for 155 which would be over US$500k based on current prices for Ethereum.
Even Jeffrey Hwang was shocked when he found out the news and he too thought it was an April Fool’s joke at first. Moreover, according to blockchain security firm PeckShield, Jay may have lost not just one NFT but three more NFTs – one from the Mutant Ape Yacht Club and two from the Doodles.
Jumping on the Bandwagon
In recent months, more and more celebrities hoping to cash in on the trend have jumped on the NFT wagon. Hong Kong actor Shawn Yue sold 14 NFTs in auction last year. Amongst those that sold, a CryptoPunk NFT fetched the highest amount with a cool price tag amounting to a few millions in USD. Another Hong Kong star who launched his own NFT series is Edison Chen. Inspired by the red envelopes handed out during the Lunar New Year, his aptly named collection RED NVLPE features a curated collection of 8,888 pieces.