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Bored Ape Yacht Club confirms Instagram account was hacked

Reynaldo Marquez-Bitcoinist
2022-04-26 04:41
Yuga Labs, the team behind the popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), lost access to their Instagram account. The team confirmed that their profile on this social media was hacked which allow the attackers to post links to a copycat website which led to fake Airdrops.
Users were lured to the fake websites, trusting that the announcement was official. Later, they were asked to sign a “safeTransferFrom” transaction, as the team behind Bored Ape Yacht Club said, which allowed the attackers to steal their digital assets. The team behind the project stated:
Immediately upon discovering the hack, we alerted our community, removed links to the compromised IG account from our platforms, and attempted to recover the account.
The account was hacked even with extra security measures online, BAYC confirmed, such as two-factor authentication. In addition, they claimed that the team followed good security practices.
Despite these claims, the account was hacked leading to important losses for several users. One of the project’s co-founders said that the hack resulted in the 4 Apes, 6 mutants, 3 Kennels, and the loss of other digital assets.
In that sense, the BAYC co-founder committed to the community to post further details on the attack and to stay in touch with the victims. At the time of writing, Bored Ape Yacht Club was able to regain control of its account with support from the social media platform. They added the following: If you were affected by the hack or have information that might be helpful, reach out to ighack@yugalabs.io. You need to contact us first – anybody contacting you first is not us. We will NOT reach out to anyone over email first, and we will NEVER ask for your seed phrase.
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