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Hackers Seize BAYC’s Instagram, Steal $10 Million NFTs

This afternoon, Bored Ape Yacht Club raised an alarm on Twitter, announcing a forceful takeover of its Instagram account. More than $10 million worth of NFTs has been stolen in the aftermath of the attack. 

According to the tweet, someone hacked the team’s official Instagram account. BAYC team swiftly advised users to refrain from following any prompts or instructions given by the account. However, it appears that their announcement came too late, as many had already fallen victim.

How it Happened

In the early hours of the day, at about 10 am ET, the hacker seized control of BAYC’s Instagram, or at least began to behave suspiciously. There are possible indications that the hack already happened way earlier. 

After seizing control of the collection’s IG page, the attacker posted a false update announcing an airdrop. The posted update took unsuspecting BAYC owners to a phishing page. Additionally, it required interested parties to connect their wallets to access it the airdrop. But rather than users getting in on early airdrop, they were scammed instead. 

Before many noticed what was happening, they found themselves missing some NFTs.

Following the attack, a Twitter user named the culprit the “BAYC Instagram Hacker”, tweeting a list of the stolen tokens. The list includes 4 Bored Ape Yacht Clubs, 7 Mutant Apes, 3 Bored Ape Kennel Clubs, and 1 CloneX. The stolen NFTs totalled over 91 tokens.

Affected Parties

BAYC account owners began making efforts to mitigate damage as soon as they noticed the suspicious activity.  They took down all links to their Instagram page from all their networks. They also made efforts to recover their Instagram which were successful, according to a thread they posted, a few hours later.

However, despite the quick recovery, the attackers did significant damage. At the moment, Instagram and Yuga Labs are actively trying to figure out how the hackers were able to get into the account in the first place.

Hackers Target Social Accounts

In a similar fashion, BAYC’s Discord server was hacked earlier this month. Popular singer Taiwanese Jay Chou says he also fell victim to this particcular attack. Chou was one of the people who instigated a widespread acceptance of NFTs in China when it wasn’t yet quite popular. The singer and rapper shared in a post, that he lost a BAYC #3738, one of the most expensive in the market. The token later showed up on another suspicious platform. The singer urged everyone to be careful.

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The rate of stolen NFTs continues to rise, raising questions about the safety of this fast-rising online commodity. One of the biggest downsides to the important anonymity of the crypto space.

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