NFT Trader loses $145k worth of BAYC to phishing attack

As an analyst with extensive experience in the cryptocurrency and NFT space, I cannot help but be dismayed by yet another instance of phishing attacks leading to significant losses for individuals in this rapidly evolving digital economy. The recent incident involving the loss of over $145,000 worth of Bored Ape Yacht Club (BAYC) collectibles from tatis.eth is a stark reminder that the threats in this space are increasingly sophisticated and relentless.

A trader in Non-Fungible Tokens (NFTs), specifically Bored Ape Yacht Club (BAYC) collectibles, suffered a significant loss of approximately $145,000 due to a phishing attack. With the increasing prevalence of fraudulent schemes in the cryptocurrency sphere, this unfortunate incident serves as a stark reminder to exercise extreme caution.

On-chain security platform PeckShield brought attention to the movements in an X post on May 9. 

As a crypto investor, I’ve received an alert from PeckShield via ZachXBT that my wallet, tatis.eth, has unfortunately been targeted by a phishing attack. This malicious act resulted in the loss of three of my precious Bored Ape Yacht Club NFTs: #BAYC 7531, #BAYC 6736, and #BAYC 2100. The cunning scammer PinkDrainer has already taken advantage of this situation by selling these stolen assets for approximately 48.5 Ethereum. It’s a bitter pill to swallow, but I need to remain vigilant and take steps to secure my digital investments moving forward.

— PeckShieldAlert (@PeckShieldAlert) May 9, 2024

As a crypto investor, I unfortunately experienced a loss of three precious BAYC NFTs during an unexpected incident. The event transpired at 17:47 UTC on May 8 when my BAYC 7531 was transferred from my wallet at tatis.eth to a phishing account. Following the initial transfer, the attacker swiftly moved BAYC 6736 and BAYC 2100 to the same malicious address.

At present, the malefactor known as Pink Drainer has made off with three Blue-chip Yacht Club (BAYC) NFTs. These assets were sold for a grand total of 48.5 Ether (ETH), translating to an approximate value of $145,000. The transactions took place on the prominent NFT marketplaces Seaport and Blur.

As a crypto investor, I’ve been keeping a close eye on the news in our community. Unfortunately, I’ve read reports of suspicious activities in the past, and it seems that history is repeating itself. In December 2023, for instance, a notorious hacker group managed to pilfer Chainlink (LINK) tokens valued at around $4.4 million from unsuspecting victims.

Hackers employed cunning strategies, fooling users into approving transactions relating to the “IncreaseAllowance” feature, leading to a total loss of 275,700 LINK.

As a crypto investor, I’ve noticed an unfortunate trend in the last quarter of the previous year – an increase in hacks targeting various platforms, including NFT protocols like JPEG’d. These malicious actors create fake versions of legitimate services, luring unsuspecting users into approving transactions that ultimately result in the loss of their valuable NFTs and digital assets. In October alone, JPEG’d had to alert its community about such threats.

As a crypto investor, I can tell you that in December 2023, I unfortunately experienced a setback with Flooring Protocol, a liquidity platform specifically designed for NFTs, which suffered an exploit. The attack targeted their peripheral or multi-call smart contract. Consequently, the malicious actor disposed of stolen NFTs on the open market. In response to this unfortunate incident, the developers acted swiftly and implemented a solution to rectify the vulnerability.

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2024-05-09 12:24