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- The bad actors utilized its Official Instagram account, and they were able to post links to copycat websites wrestling in fake Airdrops.
- Despite best practices and proper security measures related to the IG account, the attackers managed to leave them with considerable losses.
The leading NFT project Bored Ape Yacht Club (BAYC), recently witnessed a hack on its official instagram account. The attackers made a phishing attack by sharing a link to a fake airdrop which the users believed to be legit.
BAYC Witnesses Phishing Attack Despite Security Measures
The team behind the project confirmed this as soon as they got to know about the attack when they lost access to this social media account of theirs.
The crypto supporters who connected their MetaMask wallet to the fraud website incurred a considerable loss of Ape NFTs. Ironically, the attack happened around the same time as the one-year anniversary of this NFT project, which apparently made the phishing link more believable.
The team immediately warned the users via their Twitter and Instagram accounts.
The individuals were coaxed to the fraud website, and they later went on believing when they were asked to sign a safeTransferFrom transaction.
The team also highlighted that while the phishing attack was carried out, the project was secured through two-factor authentication and followed best practices.
But despite the security, these attacks are inevitable as the bad actors somehow find a way. One of the project co-founders specified that this phishing attack resulted in a loss of 6 Mutants, 4 Apes, 3 Kennels, and loss of some other digital assets.
Some unconfirmed reports even signified that the hackers managed to steal around 100 NFTs during this phishing attack. Some users disclosed the screenshots of the fraud airdrops that promised the users some portion of LAND, a fake token, and the requirement of linking their MetaMask wallet.
Bored Ape Yacht Club is one of the most prominent NFT projects, which is constantly growing as it is back with its Otherside, plus the ApeCoin has recently taken the position of top Metaverse token by market cap.
Fraud and Phishing attacks are not new in the crypto industry, and the related concepts like NFTs. But it also lies in the hands of the users to be alert of such unethical acts.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
