Bored Ape Yacht Club's Instagram compromised in $2.4 million NFT phishing scam | Engadget

Bored Ape Yacht Club creator Yuga Labs is investigating a phishing attack after a hacker stole nearly $2.5 million worth of NFTs through the official Bored Ape Instagram account. The company disclosed the hack on Monday morning in a tweet warning followers not to click on links or mint new tokens. Per a screenshot shared by The Block, the hacker behind the attack stole 133 NFTs after using BAYC’s Instagram account to promote a fake “airdrop.” Essentially, the scam promised people free tokens if they connected their MetaMask wallets to the site linked through the post. It’s unclear how the hacker accessed BAYC’s Instagram account, and Yuga Labs has yet to announce whether it will compensate those 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 said. “We’ve regained control of the account, and are investigating how the hacker gained access with IG’s team.” Among the stolen NFTs are four Bored Apes. As noted by The Verge, the most expensive token in the trove, Bored Ape 6623 (pictured above), recently sold for 123 Ethereum, making it worth approximately $354,500 at the current exchange rate.…
Read More