11 BAYC or MAYC NFTs from popular NFT Token projects worth over $1.66 million were stolen in just 9 days.
Valuable pieces stolen from popular NFT Token collection
Blockchain security firm PeckShield has reported an attack that resulted in the theft of $1.66 million worth of NFT Tokens in the past nine days. Stolen NFTs include BAYC and MAYC, one of which is Jay Chou’s BAYC #3738.
Attack by a number of phishing sites, including zombie club Due to this, a total of 11 NFT Tokens were stolen. Among many other tokens, stolen The ay Chou’s BAYC #3738 was reportedly sold on the NFT market on LookRare for 164 ETH ($570,000).
It is also said to have been severally traded since last Friday’s attack, with the last seller earning around 50% above the BAYC floor price. During the attack that led to the theft of a mutant Ape NFT, the official BAYC Discord was also hacked. But there is no evidence that the two events are linked.
Attack series
As we have covered in the news of Kriptokoin.com, there have been several attacks in the last nine days that have resulted in the loss of several NFTs. The loss of 11 NFTs isn’t the only attack during this time, though. According to PeckShield, a previous hack to Inverse Finance resulted from manipulation of price prediction by a bug. This allowed the use of INV (highly manipulated price) as collateral, allowing attackers to dump assets from Reverse Finance.
Hundreds of NFT Tokens have been stolen in similar ways in the recent past. The most notable of such attacks is the one on OpenSea, the world’s largest NFT marketplace. At the time, PeckShield traced the attack to a phishing email sent by the OpenSea team as the source of the attack.
The need to improve security
Relentless attacks on NFTs are not uncommon, as the crypto space is subject to similar attacks in the early stages. However, it has evolved and is now more fortified against indiscriminate attacks. According to experts, the NFT ecosystem may have to evolve in terms of security to stop the wave of attacks, which will take some time.
However, maintaining investor confidence in the ecosystem is crucial. Experts state that many institutions have entered the ecosystem recently and if there will be meaningful growth in the near future, they should stay in the ecosystem.
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