Seth Green, a star on the Family Guy TV show, lost NFTs from the Bored Ape Yacht Club (BAYC) collection last month through a phishing attack. The actor has now recovered the stolen pieces worth more than $300,000.
Seth Green recovers the BAYC collection
The actor reportedly spent 165 Ether (ETH), worth more than $295,000 at current prices, to retrieve the stolen BAYC after it was sold to another collector. The BAYC NFT #8398 had originally cost the actor $200,000. This NFT was also intended for use in an upcoming TV show called “White Horse Tavern.”
Green participated in a Twitter chat where he confirmed his purchase of the NFT, saying it felt like “home.” Transaction records indicate that the money used to buy back the NFT was transferred from Green’s wallet to an NFT collector known as “DarkWings84” through the NFT Trader crypto escrow platform.
The trader said they bought the NFT out of “good faith.” The collector bought the NFT stolen from Green after being scammed by a fake NFT mint. Towards the end of last month, Green said that he would file a lawsuit against DarkWings84 but later tweeted that he had managed to get in touch with the collector.
DarkWings84 and Green used the NFT Trader escrow platform to buy the NFT because it had been frozen by OpenSea. The OpenSea NFT marketplace had marked the Bored Ape #8398 for having “suspicious activity.”
Green’s stolen BAYC raises issues with NFT copyright
The events surrounding Green’s stolen NFT have raised concern about the intellectual property rights granted after a collector buys an NFT. The BAYC collection’s licensing rules state that Yuga Labs gives the NFT owner unlimited global license to use, copy and display the purchased piece.
The licensing rights have already been accessed by some buyers of the collectors. Some owners of these NFTs have used the art to curate content with a Bored Ape theme and brand both virtual and physical businesses such as restaurants.
However, these licensing rights only apply to NFTs that do not have suspicious activity. The rights do not apply to NFTs such as Green’s that were stolen and resold. Therefore, Green might not use his BAYC NFT for his upcoming TV show. He had earlier displayed confidence that the NFT would not be used by the one who stole it because they would not have legal rights.
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