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With over $ 1 billion in cryptocurrencies stolen this year alone, hackers and cybercriminals have now turned their attention to Eton’s growing non-fungible projects (NFT).
In a new investigation, a group of NFT hackers targeting Discord social media channels has grown rapidly in the past hour. For example, data shows that NFT fraud cases increased by 55% in June alone.
According to a recent report from security firm Web3 TRM Labs, the NFT community has been hacked and has lost over $ 22 million since May.
Chainabuse, a TRM-based scam reporting platform, has received over 100 scam reports in the past two months. According to the report, some large projects such as BAYC have been launched twice.
TRM’s analysis revealed that hackers used sophisticated social engineering techniques such as phishing and phishing and impersonated administrators to trick Discord users.
They also used a number of tactics such as bots, which allow admins to automatically post messages to the community without the user’s knowledge. The press release states:
“Hackers intentionally targeted users who still have NFTs of value by promoting ‘BAYC, MAYC and Otherside EXCLUSIVE Giveaway’ and providing a misleading link asking users to pay a commission to mine ETH.
After taking control of the victims’ wallets, the NFTs were moved from each compromised account to a single wallet linked to the latest spoof link, the results added.
The investigation revealed that the NFT movements stolen by the hackers were linked to a network of “branches”. However, the number of groups involved is unknown.
Yuga Labs, the company known for developing the world’s largest and most profitable NFT project, Bored Ape Yacht Club (BAYC), has warned its users to beware of malicious attacks.
NFTs are a breeding ground for hackers
As the number of NFT users continues to grow, phishing, hackers, and other cybercriminals have also targeted this market, further threatening the security of the NFT community.
For example, a project called MoonManNFT stole nearly 400 NFTs under the name of a worthless coin.
Experts have suggested ways to avoid falling victim to an NFT scam. The main cause of NFT hacking is users visiting unofficial websites. It is important that users download the Web3 app or wallet from the official website.
Another way to protect digital currency or collectibles is to verify the domain name. One of the tactics used by hackers is to create “fake” websites with domain names similar to the original website. It’s best not to share credentials and private keys with anyone who claims to be a company or administrator, experts warn.