Bored Ape Yacht Club Hit with Massive Hack, Estimated $3M Worth of NFTs Gone

The Bored Ape Yacht Club’s official Instagram account was hacked Monday morning, according to a a tweet posted by BAYC’s Twitter account.

Four Bored Ape NFTs were stolen along with several NFTs from related projects by Yuga Labs — the creator of BAYC — seven from the Mutant Apes collection and three from the Bored Ape Kennel Club collection, tweeted Greg Solano, a BAYC co-founder who goes by the pseudonym Gargamel.

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“The security practices surrounding the IG account were tight on Yuga’s end,” Solano said in a tweet, emphasizing that two-factor authentication had been enabled on the Instagram account. “Nothing important will ever get posted on Instagram again,” he added.
A tweet thread posted by the BAYC account explained the morning’s events: A hacker posted a fraudulent link to the compromised Instagram account that, if clicked, led victims to a copycat of the BAYC website with the promise that holders of Bored Ape NFTs would be able to mint a special new feature. The link was a phishing link, which allowed the hacker to gain access to the users Ethereum wallets and steal their assets.

An assortment of some seventy seven other NFTs were also stolen during the hack when the hacker drained the victims wallets, according to Twitter user Zachxbt who routinely investigates hacks in the NFT space. Zachxbt examined which addresses interacted with the phishing site to figure out which specific assets were stolen. In a direct message, Zachxbt estimated that in total, about $3 million in NFTs were stolen in this hack, with $2.4 million in value represented by just a few of the more rare NFTs stolen.

“This isn’t the first attack this group has carried out. I would expect Bored Ape Yacht Club to launch a in-depth investigation into the matter,” Zachxbt told ARTnews in a direct message.

While Bored Ape NFTs have been stolen before, Monday’s hack represents the first major hack of the company itself.

A hotline has been set up by BAYC so that those effected by the hack can lodge their complaint, thought it’s unclear whether or how victims would be compensated. Yuga Labs did not immediately respond to a request for comment.


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