07 December 2023

Bored Ape Yacht Club says its Instagram was hacked to funnel users to NFT phishing sites

Popular NFT company Bored Ape Yacht Club (BAYC) said Monday that cybercriminals hacked its Instagram account and used the access to share fraudulent phishing sites that allowed the theft of dozens of NFTs worth millions of dollars. BAYC said it was unsure of how the hackers gained access to the Instagram account but are working with the platform to investigate the incident. Yuga Labs, the company behind BAYC and other NFTs, told The Record in a statement that the hackers “posted a fraudulent link to a copycat of the Bored Ape Yacht Club website, where a safeTransferFrom attack asked users to connect their MetaMask to the scammer’s wallet in order to participate in a fake Airdrop.” “This transferred their assets to the scammer’s wallet. At 9:53am ET, we alerted our community, removed all links to Instagram from our platforms and attempted to recover the hacked Instagram account,”the company explained.