Roundup: OpenSea hacked, NYSE turns to NFTs, and Basquiat paintings questioned
Moriah Costa

📰 In the Headlines

Hackers on OpenSea steal $1.7m worth of NFTs in phishing attack  

• A phishing scam led users on OpenSea to lose more than 250 tokens worth around $1.7m. The attacks, which targeted just 32 users, included tokens for Bored Apes and the Decentraland platform.  

• Hackers exploited a vulnerability in the protocol that runs NFT smart contracts. In effect, they made targets sign a blank check, which the hackers then filled out with their own details.  

Fun Fact: OpenSea, which is currently worth $13b, has been plagued with security issues. Recent problems include a bug that let hackers buy NFTs at a major discount or steal them using a gifting loophole.

The NYSE is looking to cash in on NFT trades  

• The New York Stock Exchange is aiming to take a slice of the NFT pie. A new trademark filing reveals that the NYSE is planning a marketplace where users can trade NFTs and other crypto products.  

• The stock exchange wrote in its filing that it “has a bona fide intention” to explore the blockchain. The filing includes references to an API for a marketplace that can be used to sell cryptocurrency and digital collectibles.  

Fun Fact: Trademark filings are preliminary and so it’s still unclear if and how the NYSE will invest in the metaverse.

Two dozen previously undiscovered Basquiat paintings go on display — but are they real?  

• The Orlando Museum of Art has put 25 works on display that it attributes to Basquiat. The pieces belonged to a TV writer who bought them off Basquiat early in his career for $5k. They’ve been stuck in storage for the past three decades.  

• The museum cited a major Basquiat authenticator who said the works were genuine. But others point out that certain elements don't fit with Basquiat’s style, and there are other historical inconsistencies.  

Fun Fact: Basquiat’s art has had a resurgence in the 30 years since his death at the age of 27. His 1982 Untitled became one of the most expensive U.S. artworks ever when it sold for $110.5m in 2017.    

🔥 From the Otis Collection

Top Movers 2-25

• This week in the Otis Discord, we’re talking about: buyout offers, Pokémon NFTs, and more — join the conversation.  

• Otis received a $105,000 buyout offer on the LeBron James 2003 Finest Refractor Rookie Card. Trading has been placed on hold. Shareholders have until 11 am EST on Friday, 2/25/22 to vote.  

• A PSA 10 Joe Montana rookie card (1981 Topps #216) sold for $84,998.40 at Memory Lane over the weekend. The same card is trading on Otis at a market cap of $51.9k as of market close 2/24.  

• A PSA 10 Magic Johnson rookie card (1981 Topps #21) sold for $26,960.40 at Memory Lane over the weekend. The same card is trading on Otis at a market cap of $20,145 as of market close 2/24.  

• A CGC 9.8 copy of Teenage Mutant Ninja Turtles Issue #1 sold for $264k at Goldin Auctions on Wednesday. Otis’s CGC 9.8 copy of TMNT #1 exited in October for $180,450, netting IPO investors a 188.72% return.  

• Tampa Bay Buccaneers quarterback Tom Brady is still getting a retirement bump, with his most sought-after rookie card selling for over $2m at PWCC Premier Auction on Saturday. Otis has another Tom Brady Rookie Card (2000 SP Authentic #118 /1250 PSA 10) trading on the platform.  

• A rare Kobe Bryant card (1997-98 Metal Universe Precious Metal Gems Emerald) sold privately last week for $2m through PWCC, setting a new all-time high for a Bryant card. A Kobe Bryant Rookie Card (1996 Bowman's Best Atomic Refractor #R23 BGS 9.5) is trading on Otis.  

• Golden State Warriors Stephen Curry won the 2022 NBA All-Star Game after he made five straight 3-pointers in less than two minutes. Otis has a Stephen Curry Rookie Card (2009 Topps Chrome #101 /999 PSA 10) trading on the app.    

🔖 From Otis Magazine

This week on Otis Magazine, we collected the deluge of artists and brands in the NFT space. We’ll be updating it regularly so you can have a handy place to keep track of which celebrities offer NFTs or own a BYAC.


Read: NFTs by Your Favorite Celebrities and Brands


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