ApeCoin Continues in the NFT Market Despite Warnings


  • ApeCoin is working extremely hard to survive in the NFT market despite receiving warnings about probable NFT hack threats.
  • After being duped into exchanging valuable items for worthless PNGs in a shady exchange arrangement, a BAYC, NFT holder lost numerous NFTs, including a “bubble gum ape.”
  • The APE community recently decided on AIP-21, “Staking Process with Caps,” and AIP-22, “Staking Pool Allocation Reloaded- Ecosystem Fund Allocation.”

Despite being warned about potential NFT hack concerns, ApeCoin is doing its hardest to survive in the NFT marketplace. A Bored Ape Yacht Club (BAYC) non-fungible-token (NFT) holder has lost many NFTs, including a “bubble gum ape,” after being tricked into exchanging precious pieces for worthless PNGs in a fraudulent exchange deal. 

It is no longer unusual for people to lose money when using ApeCoin. Since users’ cryptocurrency and NFT collections were taken, various NFT markets have come under fire. 

Earlier this year, a lawsuit was brought against the top NFT marketplace OpenSea because of this problem. Despite receiving warnings about potential NFT hack threats, ApeCoin is doing its hardest to survive in the NFT marketplace.

Following the compromise of two official Discord groups connected to BAYC and OtherSide NFTs, a warning about NFT hacking threats was made public. It enables the cyberterrorist gang to distribute numerous phishing URLs for effective cyberattacks. We shall talk about how many NFT investors yelled “All My Apes are Gone” in 2022 in this article.

The globe over, NFT scammers are masterminds who know how to manipulate people’s thoughts and exploit false scarcity and the fear of losing out to lure victims into their traps. People appear to be drawn to NFTs with words like “sold out,” “limited releases,” “Drops,” and “partnership” and will pay exorbitant prices or stand in lengthy lines to purchase them. 

Their NFT artworks’ exclusivity is another important motivator. Even if there are occasionally stories of billions of dollars being stolen, the huge buzz around NFTs still prevails.

A new phishing scheme targeting the social media accounts of NFT influencer Zeneca has recently hit the NFT community. Unaware individuals were duped into connecting their wallets by the stolen Twitter and Discord accounts, which linked to a bogus airdrop for the influencer’s “Zen Academy Founders Pass.” 
The APE community recently chose AIP-22, “Staking Pool Allocation Reloaded- Ecosystem Fund Allocation,” and AIP-21, “Staking Process with Caps.” Both ideas received support from the community of roughly 90%, and both were approved. The community requested a staking system that adhered to very specific rules once AIPs 21 and 22 were passed.