Home Tech & Gadgets Hackers have stolen millions of dollars worth of NFTs: how secure this...

Hackers have stolen millions of dollars worth of NFTs: how secure this segment is


Hackers have taken control of Bored Ape Yacht Club’s Instagram and Discord accounts, currently the second most valuable NFT collection in terms of trading volume. They own NFTs worth over ten million dollars – another example of blockchain collectors who sometimes lose their extremely valuable assets because of hackers.

At least 24 Bored Apes and 30 Mutant Apes were stolen and transferred to new crypto wallets, CoinDesk reports, totaling $ 13.7 million.

“The hacker posted a fraudulent link to a copy of the Bored Ape Yacht Club website,” the company wrote on Twitter. “Immediately after the hack was discovered, we alerted our community, removed the links to the compromised IG account on our platforms, and tried to recover the account.”

Hackers stole millions of dollars in NFTs

The total loss of the hack remains somewhat unclear. The company itself says it lost only about $ 3 million to hackers, according to a statement from CoinDesk.

“It seems that BAYC’s Instagram has been hacked. Don’t hit anything, don’t click on links and don’t connect your wallet to anything. ”, According to the official account of Twitter BAYC.

Judging by the responses on Twitter, the hack clearly affected a large number of users.

“Even the best security practices from the user are sometimes not enough,” the founder of the crypto security company Sentinel wrote on Twitter.

This is by far the first time hackers have stolen millions of dollars worth of NFTs. Collectors do not have many resources, as the entire NFT market is operating in a regulatory vacuum. In other words, buyers should be careful.

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As a reference, Adidas’ first NFT seems to have been a success. Collaboration with Bored Ape Yacht Club, Gmoney and Punks has grossed over $ 23 million in Ethereum. The amount may not sound too high for such a well-known brand, but Adidas managed the equivalent of $ 538.4 million in profit in its last quarter. Thus, $ 23 million in a limited edition digital release is significant.

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