Bored Ape Holders Beware: Don’t Make These Costly Mistakes!

Key Points:

• PeckShieldAlert raises concerns over potential risks associated with staking APE tokens in NFT pools, warns Bored Ape holders of serious loss.
• Staking APE tokens in NFT pools and selling NFTs may lead to losing staked APE tokens, as highlighted by the recent incident involving Bored Ape Yacht Club #7810.
• Beginners in the NFT industry should do thoughtful research when interacting with similar solutions and exercise caution when staking APE tokens in NFT pools to avoid possible consequences of selling their NFTs.

A recent tweet by PeckShieldAlert, a prominent blockchain security firm, has raised concerns over potential risks associated with staking Bored Ape – APE tokens in NFT pools.

While staking has become a popular method for earning passive income in the crypto space, users need to be aware of the risks involved, particularly in regards to NFT pools. According to the tweet, users who stake APE in NFT pools and then sell their NFTs stand to lose their staked APE tokens. This issue came to light when an exploiter/arbitrageur with the address 0x06800a purchased Bored Ape Yacht Club (BAYC) #7810 and received 14,300 staked APE tokens worth approximately $60,000. This is a significant amount of money, and it highlights the potential risk associated with staking tokens in NFT pools.

Bored Ape Yacht Club (BAYC) is a well-known NFT project that has gained immense popularity in the crypto world since its inception in April 2021. The project features a collection of 10,000 unique Bored Ape NFTs, each possessing distinct attributes and rarities. The issue of losing staked APE tokens upon the sale of an NFT raises questions about the safety and reliability of staking in already questionable NFT pools. As a result, it is crucial for beginners in the NFT industry to do thoughtful research when interacting with similar solutions.

In light of the PeckShieldAlert tweet, users should exercise caution when staking their APE tokens in NFT pools and be aware of the possible consequences of selling their NFTs as it may lead to significant losses. However, it is important to note that staking in NFT pools can also be a lucrative opportunity if done correctly. Users should stay informed about potential pitfalls and exploitations in the industry and take appropriate measures to protect their investments. For example, they could consider diversifying their portfolio by investing in other projects or using different staking methods. By taking these steps, users can mitigate potential risks and increase their chances of success in the crypto space.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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