Technology

Bored Ape Yacht Club’s Instagram compromised in $2.4 million NFT phishing scam

Bored Ape Yacht Club creator Yuga Labs is investigating a phishing assault after a hacker stole practically $2.5 million value of NFTs via the official Bored Ape Instagram account. The company disclosed the hack on Monday morning in a warning followers to not click on on hyperlinks or mint new tokens.

Per a screenshot shared by , the hacker behind the assault stole 133 NFTs after utilizing BAYC’s Instagram account to advertise a faux “airdrop.” Essentially, the scam promised individuals free tokens in the event that they linked their MetaMask wallets to the positioning linked via the submit. It’s unclear how the hacker accessed BAYC’s Instagram account, and Yuga Labs has but to announce whether or not it should compensate these affected by the scam.

“At the time of the hack, two-factor authentication was enabled and security surrounding the IG account followed best practices,” the company . “We’ve regained control of the account, and are investigating how the hacker gained access with IG’s team.”

Among the stolen NFTs are 4 Bored Apes. As famous by , the costliest token in the trove, Bored Ape (pictured above), not too long ago offered for 123 Ethereum, making it value roughly $354,500 on the present trade rate. The 4 apes collectively are value greater than $1 million. One estimate by Molly White, the creator of , places the worth of the complete theft at roughly $2.4 million.

Monday’s incident is the newest NFT theft to contain a high-profile phishing assault. More than two dozen customers lost entry to about 250 tokens value an estimated $1.4 million in February. As The Verge factors out, what doubtless made this most up-to-date scam notably efficient is that it not solely got here from the official Bored Ape Instagram account however that MetaMask at present solely permits customers to visually see their NFTs inside its cell app.

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