First rewards for Apecoin (APE) stakers are expected to accrue on December 12
The launch of the Apecoin (APE) staking payout program is one of the most anticipated events for high-profile DeFi and NFT enthusiasts. Here’s how exploiters can access locked funds and steal them.
Stakers’ APE tokens are at risk
PeckShield, a top-tier cryptocurrency security provider, explained the scenario that might allow scammers to steal Apecoins (APE) locked in staking pools by their holders.
According to Peckshield, an exploiter managed to purchase an Elite Bored Apes Yacht Club non-fungible token, #6762, and access the APE planted by its previous owner.
Since he/she purchased BAYC #6762 with money borrowed from dYdX DeFi (over $102,000) and then immediately repaid the loan, it looks like the stake associated with the same pool was the real target of this masterful attack.
In total, the attacker managed to steal over $25,000 in APE and immediately converted it to Ether (ETH).
NFT expert Matt Solomon, Metaverse strategy head at Horizen Labs, highlighted that all marketplaces should keep their users informed of the possibility of such “collateral damage.”
$17,000,000 in AppCoin (APE) deposited into staking pool
At the same time, the staking campaign for Apecoin (APE) is gaining traction. As displayed by the Nansen data tracking platform, more than 4,280,000 APEs have been locked in the staking pool so far.
Over $673,000 is locked by top-tier NFT holder Nobody Vault. Also, the campaign has already yielded contributions from high-profile holders of BAYC, Mutant Apes Yacht Club, Otherdeed for Otherside and other popular collections.
As previously covered by U.Today, the Chainlink (LINK) staking program is also starting today. Many whales aggressively accumulate LINK tokens in order to receive periodic rewards. Some of them purchased over $100 million in LINK in the past 14 days.
