The use of non-fungible tokens (NFTs) has skyrocketed in recent months. Despite this popularity, there has been a developing trend of hacking assaults, which have resulted in significant losses for NFT investors.
Famous NFT animator DeeKay Kwon was the victim of a Twitter account hack. The compromised account was utilized on Friday to run a phishing attack.
DeeKay Kwon’s Twitter account was used by the hackers to spread a harmful phishing attack. The action was taken on Friday morning following the posting on DeeKay’s Twitter account of a phishing link leading to a malicious website.
Followers of DeeKay who clicked the link were tricked into authorizing transactions coming from a fraudulent smart contract. According to the article, only 1000 individuals will be able to purchase the new NFT collection that DeeKay was introducing. On Twitter, DeeKay has a following of about 180,000 people. Therefore, the breach’s size was noticeably large.
The victims were prompted to submit false NFT claims on the phishing website they were sent to after clicking the link. However, the attacker got access to the user’s cryptocurrency wallets once the user confirmed the transaction for claiming these assets. The NFTs were then taken from the victims’ wallets by the perpetrator.
Before DeeKay regained control of his Twitter account and erased the fraudulent message, on-chain data reveals that the hacker was able to take about 65 NFTs. Additionally, at least $80,000 worth of NFTs were sold by the threat actor, and the proceeds have already been moved to another cryptocurrency wallet. About 50 of the stolen NFTs are still in the attacker’s possession.
Soon after regaining access to his Twitter account, DeeKay spoke about this hack. He apologized for the damages sustained and informed his Twitter followers that the account had been retrieved. Additionally, he invited everyone who the breach had impacted to get in touch with him so they could work together to find a fix.
A flaw in the smart contract code has been used to carry out some of the most significant attacks in the cryptocurrency industry. However, phishing efforts also result in the theft of several digital assets. A user is tricked into granting access to their bitcoin wallets during phishing operations.
A few days before this hack, Uniswap, one of the best DeFi exchanges, had a phishing effort that resulted in the theft of almost $8.6 million. Uniswap liquidity providers were the focus of the attack. These two attacks share a similar character.
