As mentioned by Bored Ape Yacht Club developers on Monday, hackers breached the renowned non-fungible token collection’s official Instagram page and shared links to a counterfeit airdrop with the followers of the project.
Digital currency enthusiasts who connected their MetaMask wallets to the fraudulent website were thereafter drained of their Ape NFTs. It seems that the attack was planned to coincide with the 1 year anniversary of the launch of the BAYC collection, hence boosting the “perceived credibility” of the phishing link.
At press time, it is not clear how hackers gained access to the Bored Ape Yacht Club official Instagram. While social media users point out the significance of 2-factor authentication as an effective obstacle against unauthorized logins, others say that such methods are not entirely foolproof and can be, in fact, compromised through a basic SIM-card swap.
Notably, BAYC has grown to become an all-time favorite non fungible token collection in the virtual asset space, making over a billion dollars in sales in 2021. The collection’s supply is fixed at ten thousand NFTs. More than thirty eight thousand ETH worth of Apes were traded on OpenSea in the past 30 days.
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