NFT scammers go bananas by hacking Bored Ape
New York, New York - Non-Fungible Tokens (NFTs) attract traders looking to turn a dime into a dollar, but not everyone in the scene has been invested in making an honest living.
This s**t is bananas.
Scammers hacked into the Bored Ape Yacht Club's (BAYC) Instagram profile and Discord server on Monday – one of the most expensive and well-known collections of NFT art.
The hackers swiftly nabbed expensive tokens from deceived users by pretending they were from the BAYC team, according to PC Gamer.
"Yuga Labs and Instagram are currently investigating how the hacker was able to gain access to the account. We’re still investigating," BAYC admin Yuga Labs told VICE.
"Rough estimated losses due to the scam are 4 Bored Apes, 6 Mutant Apes, and 3 BAKC, as well as assorted other NFTs estimated at a total value of ~$3m."
Here's how the newest NFT heist went down: The scamlings posted on the BAYC Instagram account and Discord server saying they were releasing a new collection of one of the most valuable NFTs in blockchain town.
But, as soon as would-be buyers signed a contract and connected their crypto wallets to get their new NFTs, a nasty digital tripwire was activated.
The contract drained their wallets of expensive tokens, and unleashed a wave of users crying to the BAYC Twitter account about their "lost apes" – and demanding a refund.
Cover photo: REUTERS