NFT Market Update - 26th August, 2022

Coinbase is reportedly introducing ‘cbETH’ (wrapped staked ETH) ahead of the merge, which allows users to use their staked ETH while earning rewards on the platform.

Yuga Labs will be represented at the VMAs by Snoop Dogg and Eminem on Sunday who will be performing their new single featuring their Apes and @OthersideMeta.

According to a report from Elliptic, more than $100M worth of NFTs has been stolen in the past twelve months, with July 2022 being the highest month on record for the number of stolen NFTs. On average, scammers made $300,000 per scam.

Onchain sleuth, ZachXBT, wrote a Twitter thread exposing the individual behind hacked Twitter accounts like Beeple, Zeneca, and KeyboardMoneky. Allegedly, the individual is Cameron Redman, who also carried out a SIM swap attack for $37 million worth of Bitcoin & Bitcoin Cash in February 2020.