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What connects hidden cheese
with cyber thieves?

As the Great Fire of London began its four-day rampage across the City in 1666, diarist Samuel Pepys had time to plan.

He sent his money and papers to a friend. But, “as the flames closed in on my home” he wrote: “I hastened to bury my most prized possessions - wine and Parmesan cheese - outside to keep them safe." 1

In today’s world, we have more esoteric tastes and sophisticated solutions to managing risk.

  • Bored apes 

    Snoop Dogg, Eminem, Gwyneth Paltrow and Justin Bieber, for example, are all avid NFT fans. Each owns several Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs.  

    For those of us unfamiliar with these assets, the Bored Ape Yacht Club (BAYC) is a collection of non-fungible tokens (NFTs). Built on a blockchain, each NFT features a unique, computer-generated ape with its own facial expressions, outfits and accessories. At the height of their fame, entry-level prices for Bored Apes were almost $420,000.2 

  • Deeper holes 

    Protecting valuable assets like NFTs requires a more strategic approach than simply digging a hole in the garden.

    In June 2022, a unique Bored Ape token was stolen from the crypto wallet belonging to actor/producer Seth Green3. Despite many layers of security, Mr Green was conned into revealing his private keys through a sophisticated phishing scam. But his was not the only loss. Overall, in the cryptocurrency and NFT space, estimates suggest $25tr has been lost due to scams and rug pulls4. 

Cyber security  

Unlike the Great Fire, threats to cyber assets aren’t easy to see coming. Criminals fake websites to trick users into revealing intel. They exploit vulnerabilities in smart contracts and deploy every social engineering and scamming tool in the playbook. In an era of accelerating risk, no wonder 29% of executives put cyber crime top of the worry list5. 

Recognizing that businesses of all sizes will face challenges, we also have some pretty neat tricks up our sleeve. We’re expert in combining risk management, underwriting, and cutting-edge security expertise to effectively prevent and manage these risks, allowing you to continue enjoying your most treasured possessions, be that a nice slice of cheese or a virtual ape. 

 

Our products

1- The Great Fire of London

2- Are Bored Ape NFTs Still A Good Investment?

3- Gone Ape? How to Protect NFTs from Theft

4- Crypto, NFT losses believed to hit $25 trillion, says industry researcher

5- Risk & Resilience | beazley