Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Fake Banksy NFT sold through artist's website for £244k

Fake Banksy NFT sold through artist's website for £244k

A hacker has returned $336,000 to a British collector after he tricked him into buying a fake NFT advertised through the artist's official website.

A link to an online auction for the NFT was posted on a now-deleted page of banksy.co.uk.

The auction ended early after the man offered 90% more than rival bidders.

Banksy's team told the BBC "any Banksy NFT auctions are not affiliated with the artist in any shape or form".

With NFTs, artwork can be "tokenised" to create a digital certificate of ownership that can be bought and sold.

They do not generally give the buyer the actual artwork or its copyright.

The Banksy fan who got duped says he thought he was buying the world-famous graffiti artist's first ever NFT.

The man who is in his 30s and wanted to remain anonymous explained over Twitter direct messages that he suspects Banksy's site was hacked, and that he was the victim of an elaborate scam.

He says the hacker returned all the money except for the transaction fee of around £5,000 on Monday evening.

The prominent NFT collector uses the online name Pranksy said the whole episode was bizarre but that the hacker may have got scared.

"The refund was totally unexpected, I think the press coverage of the hack plus the fact that I had found the hacker and followed him on Twitter may have pushed him into a refund.

"I feel very lucky when a lot of others in a similar situation with less reach would not have had the same outcome," he said.

He says he was first alerted to the auction by an anonymous person in his community on the social network Discord on Monday morning.

Banksy's official site had a new page called NFT which included a link to an auction site selling an NFT called Great Redistribution of the Climate Change Disaster.

After entering a bid far above his rivals the auction was swiftly ended and the funds - in cryptocurrency Ethereum - were sent to the scammer.

'Feels like a hack'


"It does seem to be some hack of the site. I confirmed the URL on PC and mobile before bidding. I only made the bid because it was hosted on his site.

"When the bid was accepted I immediately thought it was probably fake," he said.

Banksy's team did not respond to questions about how his site was compromised but said: "The artist Banksy has not created any NFT artworks."

The buyer suspects the person who alerted him and others to the Banksy NFT sale may have been the hacker themselves.

'Irreversible'


Tom Robinson, from cryptocurrency analysis company Elliptic, confirmed there was nothing the buyer could do once he has placed his bid on the auction platform OpenSea.

"OpenSea is the eBay of NFTs - it allows anyone to sell digital art that they own, or have created themselves. Once a bid has been placed, the seller can accept and the cryptocurrency is irreversibly transferred," he said.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
Thirteen Killed in Russian Attacks Across Ukraine
High-Profile Incidents and Political Developments Dominate Global News
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Ukraine and Russia Conduct Largest Prisoner Exchange of the War
×