Bored Ape Yacht Club NFTs Worth $2.7 Million Stolen Through an Instagram Phishing Attack

NFT traders are no stranger to hacking and scams, although avoiding them is another story. As more and more users join the NFT bubble, hackers are developing new scamming strategies to trick users into receiving free tokens in exchange. That is what happened on Monday when the official Instagram account of Bored Ape Yacht Club got hacked.

According to CoinDesk, roughly $2.7 million in NFTs were stolen through a fake BAYC website that looks exactly like the original. The procedure involved users receivig a request to sign a "safeTransferFrom’ transaction" on MetaMask in exchange for a free token airdrop. Reports also stated that not only BAYC NFTS were stolen but also a few valuable assets such as Mutant Apes, Kennnel Clubs, and many other pieces from blue-chip collections.

The Bored Ape Yacht Club team further stated that their Instagram account has two-factor authentication enabled and has the best security practices to protect the account, so how the hackers managed to access the IG account is still under investigation.

If you're an active NFT trader, it's important to avoid unannouced airdrops as it could lead to your valuable assets stolen. Make sure you stay locked in at The Sole NFT to be notified of all the latest NFT news. On a similar topic, mint details for the Mindblowon Universe NFT collection is finally here!