Yuga Labs Warns Of NFT Community Attacks

July 19, 2022 - Around 2 mins mins to read

Yuga Labs, the development company behind high-end NFT projects Bored Ape Yacht Club (BAYC) and Apecoin (APE) has warned that there could be a coordinated attack targeting multiple NFT communities soon.

Yuga Labs Warns Of NFT Community Attacks

On July 19, Yuga Labs said the company’s security team had been tracking a group of hackers repeatedly targeting the NFT community through compromised social media accounts, urging investors to be highly cautious. This isn’t the first time the company has warned its community of a possible social media-led attack by hackers.

Our security team has been tracking a persistent threat group that targets the NFT community. We believe that they may soon be launching a coordinated attack targeting multiple communities via compromised social media accounts. Please be vigilant and stay safe.
— Yuga Labs (@yugalabs) July 18, 2022

Yuga Labs’ new warning comes just days after hackers attacked popular NFT platform Premint NFT, stealing around 314 NFT and $375,000 in ETH, making the event one of the largest NFT hacks in the year 2022.

Six wallets have been identified as victims of the attack, containing NFTs, including Bored Ape Yacht Club, Otherside, Oddities, and Goblintown. Premint said it would continue to dig into the matter and remind users that they will never be asked to sign any transaction on the platform.

We're continuing to dig into this incident, but a reminder:

❌ You will never, EVER be asked to approve ANY KIND OF transaction on PREMINT.

✍️ When connecting a wallet, you'll be asked to *sign* a message, but there will NEVER be a gas fee or anything resembling a transaction.
— PREMINT (@premint) July 18, 2022

The platform has also changed in light of the attack, allowing users to log in without their wallets — which they claim will be safer and more convenient.

Understandably, Yuga Labs has always been very careful when announcing issues related to the risk of being hacked to the community because Discord BAYC has been hacked twice, and BAYC’s Instagram was also compromised at the end of April 2022, causing a series of valuable NFTs to be stolen.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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