Scammer hijacked BAYC’s Instagram page to steal $2.5 million NFT

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2022-05-01 19:49:25

Popular Ethereum NFT project Bored Ape Yacht Club (BAYC) temporarily lost control of its Instagram page on Monday, resulting in the loss of user NFTs worth approximately $2.5 million due to a phishing attack. .

BAYC suffers another phishing attack

From the Instagram page, the scammers redirected followers to a clone of BAYC’s website that featured a fake airdrop. Unsuspecting investors were lured into clicking on a malicious link and connecting their wallet address to the fake website. “This moved their assets into the wallet of the scammer,” explained the BAYC team.

According to Gargamel, the co-founder of Yuga Labs, the blockchain development company behind the Bored Ape Yacht Club project, there were about “4 Ape, 6 Mutant, 3 Kennel and some other valuable NFTs” lost. The value of NFTs lost to scammers is estimated at $2.5 million.

“We will contact affected users and fully report the attack as soon as possible.”

– Co-founder of Yuga Labs, Gargamel.

The most famous NFTs will be the target

The growth and popularity of the NFT market has made the space more vulnerable to attacks and scams. It’s worth noting that BAYC was hacked in March. Cryptopolitan reported that the project’s Discord channel was compromised, resulting in the loss of a Mutant Ape Yacht Club NFT due to a phishing attack. The stolen NFT was worth around 21 ETH or $68,000 at the time.

Hackers will tend to grow on their own as more security emerges in the NFT and crypto space. However, users should conduct due diligence by not sharing sensitive information on public platforms or clicking on random links sent by an unknown person.

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