Bored Ape Yacht Club Hacked, NFTs Worth Millions Are Lost

The Instagram account of the NFT project Bored Ape Yacht Club was hacked on Monday. This was announced by Yuga Labs itself via Twitter. Apparently, NFTs worth millions of US dollars were stolen.
Bored Ape Yacht Club NFT Culture 1536x1023 1
This NFTs are worth so much money! | © Bored Ape Yacht Club

Bored Ape Yacht Club, the most famous collection of NFT art, was hacked on Monday. Until now, to own a Bored Ape yourself, you had to spend a ridiculously high amount of money on some of the strangest artworks. Still, some people believe these apes will become extremely valuable over the years.

Bored Ape Yacht Club Instagram Hack

Yuga Labs, the company behind the popular NFT collection Bored Ape Yacht Club, had to drop a tweet on Monday, once again pointing out the vulnerability of crypto projects' social media channels.

No minting is taking place today, the company let it be known, and warned users:

Allegedly, the whole thing became apparent to a moderator on the project's Discord channel. On the Instagram channel of the Bored Ape Yacht Club, a fake website is being promoted, through which virtual land can supposedly be purchased. Don't do that, he wrote.

Virtual Land In Metaverse Was A Scam

According to a report on Coindesk, the hackers had announced a fake airdrop and asked users to click on a fake link. This would have given the hackers control over users' wallets. The fake link directed to a website that looked similar to the one of the Bored Ape Yacht Club. There, users were allegedly tricked into mining "land" in the planned metaverse "Otherside". It is reported that NFTs from Yuga Labs, including Bored Ape, Mutant Ape and Kennel Club NFTs, with a total value of $2.7 million, were stolen in the hack. On Etherscan, the hacker's wallet was identified as part of a phishing scam.

It is still not clear how the hackers got into the Instagram account of the Bored Ape Yacht Club. In any case, Yuga Labs had immediately removed all links to Instagram from its services and informed the community. Then, on Monday afternoon, Yuga Labs had attempted to restore the Instagram account. Yuga Labs and Instagram are currently investigating how the hacker gained access to the account.