NFTs Worth Millions Stolen After Bored Ape Yacht Club Instagram Hacked – Gizmodo

Photo: Jakub Porzycki/NurPhoto (Getty Images)The Instagram account belonging to the popular NFT collection Bored Ape Yacht Club (BAYC) was hacked on Monday. According to BAYC itself, the hacker used the access to launch a phishing scheme that stole millions of dollars in non-fungible tokens (NFTs) from the account’s followers.BAYC, run by the cryptocurrency company Yuga Labs, revealed what had happened on Twitter early Monday morning, warning community members to steer clear of the scheme. In an email to Gizmodo, a BAYC spokesperson confirmed details of the incident. “At 9:53am ET, we alerted our community, removed all links to Instagram from our platforms and attempted to recover the hacked Instagram account,” they said.The hacker allegedly used the compromised account to redirect community members to a phony BAYC website. There, they advertised a fake airdrop. Airdrops are a crypto marketing technique in which companies will send out newly minted tokens for free to community members to encourage engagement with certain projects. In this case, the hacker claimed to be offering access to an upcoming Bored Ape project, Motherboard reports, and encouraged users to connect their MetaMask crypto wallets to the site. However, when users did so, the site sucked the digital assets out of…
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