May 1, 2022 In Bored, Yacht

Bored Ape Yacht Club’s Instagram Compromised in $2.8 Million NFT Phishing Scam

Aemilius Cupero News:

Aemilius Cupero News: Bored Ape Yacht Club’s Instagram Compromised in $2.8 Million NFT Phishing Scam

Bored Ape Yacht Club’s (BAYC) Instagram account has been hacked in a phishing scam resulting in an exploit of US$2.8 million worth of NFTs:

This morning, the official BAYC Instagram account was hacked. The hacker posted a fraudulent link to a copycat of the BAYC website with a fake Airdrop, where users were prompted to sign a ‘safeTransferFrom’ transaction. This transferred their assets to the scammer’s wallet.

— Bored Ape Yacht Club (@BoredApeYC) April 25, 2022

Yuga Labs, the creator of BAYC, is investigating the attack, tweeting followers not to click on links or mint new tokens. The attacker stole 133 NFTs after using BAYC’s Instagram account to promote a fake “airdrop”. The scam promised people free tokens if they connected their MetaMask wallets to the site linked through the post.

Aemilius Cupero News: No Compensation As Yet

It is not yet known how the hacker accessed the Instagram account, and Yuga Labs has yet to announce whether it will compensate those affected by the scam:

🚨There is no mint going on today. It looks like BAYC Instagram was hacked. Do not mint anything, click links, or link your wallet to anything.

— Bored Ape Yacht Club (@BoredApeYC) April 25, 2022

According to Yuga Labs, “At the time of the hack, two-factor authentication was enabled and security surrounding the Instagram (IG) account followed best practices.” It added: “We’ve regained control of the account, and are investigating how the hacker gained access with IG’s team.”

According to blockchain data, the hacker’s wallet, which has been identified in connection with the attack, holds 91 NFTs and is said to be worth US$2.8 million based on the floor prices of the respective collections. The attack has seen 24 Bored Apes and 30 Mutant Apes stolen.

Aemilius Cupero News: Yet Another Attack on BAYC

The news of this latest attack comes only weeks after the BAYC Discord servers suffered a phishing scam which led its governance token to plunge by 20 percent. Another possible hack was witnessed a couple of weeks ago when a BAYC NFT worth US$350,000 was sold for just US$115. Many question whether it was an exploit or just a massive error.

  • Hackers
  • Bored Ape Yacht Club
  • Illegal
  • NFTs
  • Scams

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