Scam Alert: BAYC Official Instagram Hacked, $3 Million in NFTs Stolen!

BAYC Official Instagram Hacked, $3 Million in NFTs Stolen

The official Instagram account of the blue-chip NFT collection Bored Ape Yacht Club (BAYC) was hacked on Monday, allowing more than a dozen NFTs to be stolen, according to the team’s announcement on Twitter.

A hacker uploaded a fake link to a forged website, coupled with a fraudulent land airdrop, BAYC claimed in a tweet. The airdrop required users to sign a transaction known as “safeTransferFrom,” which sent NFTs to the hacker’s wallet. A safeTransferFrom transaction is an Ethereum function that verifies for an eligible ERC-721 token standard NFT transfer from the owner to the receiver.

Independent blockchain investigator Zachxbt provided a link to the hacker’s Ethereum address, which is now marked as a phishing address on Etherscan.  On Monday morning, the address got 91 NFTs in a few hours, according to blockchain records. Numerous NFTs from Yuga Labs, the company behind BAYC, were stolen, including Bored Ape, Mutant Ape, and Kennel Club NFTs. Before they were taken, the NFTs were worth nearly $3 million.

At the time of writing, the majority of the stolen funds were sent to the CEX Kucoin, the rest was sent to Binance.

“Immediately upon discovering the hack, we alerted our community, removed links to the compromised IG account from our platforms and attempted to recover the account,” the BAYC team added, “At the time of the hack, two-factor authentication was enabled and security surrounding the IG account followed best practices. We’ve regained control of the account, and are investigating how the hacker gained access with IG’s team.”

Yesterday, as CoinCu News reported, the BAYC metaverse ‘Otherside’ website has been faked, and they also forged the official BAYC metaverse’s Twitter account. Please only follow the information and visit the official website that this official account announces, DO NOT access or connect your wallet to any other websites!

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