What's Hot

    the Cardano Foundation joins The Linux Foundation

    June 25, 2022

    The bear market is the best opportunity

    June 25, 2022

    The new hunting ground for cryptocurrency scammers

    June 25, 2022
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    THECRYPTNEWS
    • Home
    • News
    • Guides
    • NFT
    • Analysis
    THECRYPTNEWS
    Home » Solana-Based Hacked Monkey Kingdom Has a Phishing Lesson for NFT Buyers
    News

    Solana-Based Hacked Monkey Kingdom Has a Phishing Lesson for NFT Buyers

    AdminBy AdminDecember 23, 2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Source: baepes.monkeykingdom.io

    Solana (SOL) -based non-fungible token (NFT) project Monkey kingdom had its official Discord server hacked on Tuesday during a presale, allowing a cyber thief to run away with nearly USD 1.3m worth of digital assets. The incident is another stark reminder to be extra careful and not to fall into phishing traps.

    The incident marks one of the largest NFT project hacks to date, reminding every crypto user, particularly NFT investors, of the risks involved with this emerging industry.

    Meanwhile, the hacker targeted the presale of the Baepes, a collection of 2,221 female Wukongs NFTs added to the Monkey kingdom family. Minutes after the presale started, the project’s Twitter account announced that due to an overload of traffic, their website is currently down.

    Subsequently, they informed the community that their Discord channel has been hacked and a phishing link has been published, warning users not to follow the link.

    “Since the morning of 21 Dec 2021, our discord was flooded with thousands of bots impersonating Monkey Kingdom or Baepes announcement. They DM-ed our users directing them to suspicious websites that require them to connect their wallets,” The project detailed.

    According to the team, a hacker first used a breach in Grape, a protocol for building token-based membership communities on the Solana blockchain, to take over an administrative account and post a fake link to minting the NFTs.

    Users who clicked the link and proceeded to authorize the purchase with the expectation of buying an NFT were robbed of their SOL tokens.

    Following the incident, some users revealed that they have lost as much as SOL 650 (currently USD 116,200). In total, the team estimates that the hacker got their hands on over SOL 7,000 (USD 1.25m).

    The Monkey Kingdom team has pledged to compensate affected users. “Monkey Kingdom community, we have your back! We have begun processing compensation requests and will be contacting individuals starting today,” they said.

    Backed by American DJ Steve Aoki, Monkey kingdom is the 8th most popular NFT project on Solana. The collection consists of 2,222 algorithmically generated NFTs inspired from Sun Wukong, otherwise known as The Monkey King in Chinese folklore. As of now, the project has a market capitalization of just over USD 20m and a floor price of SOL 55 (USD 9,832).

    ____

    Learn more:
    – Santa Hackathon? Visor Finance Marks 7th Hack in December
    – Crypto Security in 2022: Prepare for More DeFi Hacks, Exchange Outages, and Noob Mistakes

    – MetaMask to Add Support for NFTs
    – Instagram Mulls Integrating NFTs In Its Platform

    – Investor Purchases 330 Adidas NFTs Using Smart Contract – 328 More Than the Cap
    – Chinese Communist Party’s Mouthpiece Endorses NFTs in a Surprise Move



    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Admin
    • Website

    Related Posts

    Work on a Multi-CBDC Platform Has Revealed ‘More Questions Than Answers’ – BIS

    March 22, 2022

    Japan’s Crypto Exchanges Set to Speed ​​Up and Simplify Crypto Listing Process

    March 22, 2022

    Crypto Donations To ‘Freedom Convoy’ Evade Government Seizure

    March 22, 2022

    DeFiance Founder’s USD 1.76M Loss is a Lesson For NFT Investors

    March 22, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts

    • the Cardano Foundation joins The Linux Foundation
    • The bear market is the best opportunity
    • The new hunting ground for cryptocurrency scammers
    • Crypto Firms Cut Ad Spending by 90% After Bitcoin (BTC) All-Time High
    • Ava Labs launches a handy new feature

    Recent Comments

    No comments to show.

    Subscribe to Updates

    Get the latest sports news from THECRYPTNEWS.

    Advertisement

    Archives

    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021

    Categories

    • Analysis
    • Guides
    • News
    • NFT

    The leader in news and information on cryptocurrency, digital assets and the future of money, THECRYPTNEWS is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
    We're social. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube WhatsApp Reddit
    Top Insights

    the Cardano Foundation joins The Linux Foundation

    June 25, 2022

    The bear market is the best opportunity

    June 25, 2022

    The new hunting ground for cryptocurrency scammers

    June 25, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news from THECRYPTNEWS

    Facebook Twitter Instagram Pinterest
    • Home
    Copyright © 2021 Thecryptnews.com

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT

    DMCA - Terms and Conditions - Privacy Policy