The Bored Ape Yacht Club (BAYC Instagram)’s feed was hacked, with the attacker publishing bogus links. Over $2.5 million in NFTs were stolen as a result of the incident. The Bored Ape Yacht Club (BAYC) stated on Twitter that their Instagram profile had been hacked, resulting in the theft of nearly $2.5 million in NFTs.
According to the Instagram page, there was a mint going on, which led to some people following links and linking wallets. Four Bored Apes, each valued at around $1 million, were stolen. The attacker uploaded a bogus link to a homepage that looked exactly like the BAYC website, as well as a link to a phony airdrop that, when clicked, transferred funds to the scammer’s wallet. Shortly after the hack was found, the community was notified.
Yuga Labs, the company that owns BAYC, said it was looking into the phishing attack and how the hacker got access while two-factor authentication was turned on. Four apes, six mutants, and three kennels were taken in all. While no compensation has been announced, BAYC co-founder CryptoGarga stated that the victims would be contacted.
NFT Attacks will only Become more Common in the Future
At this point, BAYC is incredibly well-known, with significant celebrities also purchasing pieces from the pricey line. Madonna recently bought one for $560,000, but she’s far from the only celebrity to do so.
Because of their high notoriety, these NFTs have become a favorite target for attackers looking to take advantage of newer investors’ naivety. NFTs have also grown in popularity among the general population, attracting those who may lack the information and understanding to recognize when a scam is being perpetrated.
Similar attacks are expected to occur in the future. Hackers will wait up to start an attack to seize assets as the market grows in popularity and more NFT projects launch at cheap pricing.
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