As a researcher with extensive experience in the crypto and NFT space, I find the increasing number of phishing attacks targeting traders and investors alarming. The recent loss of three Bored Ape Yacht Club (BAYC) collectibles worth approximately $145,000 by an unsuspecting trader to a scammer known as Pink Drainer is just one example of such incidents.
As a researcher, I’ve uncovered an unfortunate incident involving an NFT trader who lost three valuable Bored Ape Yacht Club collectibles, approximating a total loss of $145,000, due to a phishing attack on May 8, 2023. According to PeckShield’s report, the affected NFTs with serial numbers #7531, #6736, and #2100 were transferred from the trader’s wallet, identified as Tatis.eth, into the malicious account named Pink Drainer.
Expert: ZachXBT, using PeckShieldAlert, has identified that the Ethereum address tatis.eth has unfortunately become a victim of a phishing attack. As a consequence, three distinct Bored Ape Yacht Club NFTs – with the numbers #7531, #6736, and #2100 – have been taken from this address. The malicious user PinkDrainer has already profited by selling these stolen items for approximately 48.5 Ether.
— PeckShieldAlert (@PeckShieldAlert) May 9, 2024
The individual who committed the crime swiftly disposed of the pilfered NFTs on marketplaces Seaport and Blur, amassing a total of 48.5 Ethereum (ETH), roughly equivalent to $145,000. This occurrence is just one instance in a series of heightened fraudulent schemes plaguing the crypto sphere. Previously, this same group orchestrated the theft of Chainlink (LINK) tokens worth approximately $4.4 million.
The number of attacks against NFT platforms surged towards the end of the preceding year, with two notable instances occurring. In October, the NFT community was warned by The JPEG’d protocol about counterfeit sites that were attempting to replicate their services and swindle digital assets. Later in December, Flooring Protocol, an NFT liquidity provider, suffered a significant loss due to vulnerabilities found in its multi-call smart contracts, which were subsequently exploited.
As a security analyst, I cannot stress enough the importance of strengthening the protective measures in place for cryptocurrencies and NFT platforms. The repeated occurrence of security breaches serves as a stark reminder of the potential risks that users face when investing in these digital assets. It is crucial that we take decisive action to mitigate these threats and safeguard our investments.
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2024-05-09 15:13