Bored Ape Yacht Club’s Instagram and Discord accounts were hacked by a hacker or a gang of hackers, which resulted in many owners of the NFT collection being robbed of their digital property. According to estimates, hundreds of thousands of dollars worth of non-fungible tokens were taken advantage of during the attack.
Breaking into social media accounts and sending messages with links promising clients the ability to mint land in the future metaverse Otherside was part of the scam. Bored Apes NFTs and tokens from Mutant Apes and Bored Ape Kennel Club, two other Yuga Labs projects, were been transferred to the hacker’s new MetaMask wallets by anyone who followed the link and linked their wallets. Their Bored Apes NFTs had been relocated, and they found this as a result of that.
“At this time, no coins are being minted.” The Instagram account for BAYC seems to have been hacked. Customers were told through Twitter not to “mint” anything, “click on URLs,” or “connect their pockets to anything,” as the company warned.
SafeTransferFrom attacks on the Bored Ape Yacht Club website were used to trick users into connecting their MetaMask devices to the scammer’s wallets and participating in an unofficial Airdrop. This is a cloned version of another website. Hacker posted a fake link to a Bored Ape Yacht Club clone on the internet. An official from the company Yuga Labs said that “at 9:53 am Eastern Time, we informed our community, disconnected all ties to Instagram from our platforms, and attempted to recover the compromised Instagram account.”
CoinDesk estimates the worth of the 54 NFTs at $13.7 million, however, Yuga Labs believes the real value is far lower at only $500,000 per NFT. Since two-factor authentication and “strict” security procedures were in place at the time, it’s not clear how the hacker gained access to Instagram despite the claims of Yuga Labs.
The account that was proven to be receiving the stolen NFTs could be seen on the hacker’s OpenSea web page. The user account has been temporarily suspended due to a violation of service regulations, according to the market.
Many of those whose accounts were compromised have expressed their displeasure with the state of affairs. An angry user added, “I’m going to sue Yugo because of this hack.” “I’m not walking away from $300,000 because their crap got hacked,” said one man. [Reference required] As a result of Vice. However, there is presently no information about Yuga Labs’ compensation plans for victims of the attack who lost money.
Phishing attacks are often used to steal NFTs. After a $650,000 phishing attempt, MetaMask has advised Apple consumers to stop utilizing iCloud backups. It’s possible that the identical method was used in the theft of OpenSea earlier this year.