How hackers stole $40 million worth of Bored Ape Yacht Club NFTs

Amalia A. Amalia A.
26 Apr 2022
2 min read
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How hackers stole $40 million worth of Bord Ape Yacht Club NFTs

Bored Ape Yacht Club NFTs are extremely known because they are a symbol of social status, power and riches. So, a few days ago, when Bored Ape Yacht Club NFTs had their 1 year anniversary, their Instagram account was hacked. 

Many of their followers received a message, telling them to connect their MetaMask wallet for a surprise anniversary airdrop. Those who did connect their wallet to the scam website were drained of their BAYC NFTs

Looks like the hackers planned this carefully so many people believed the airdrop story. Although unconfirmed, approximately 100 BAYC NFTs were stolen in this attack and according to CoinGecko, the floor price of each BAYC NFT was around 139 ETH, or $400,726.

The estimated value of the stolen assets - is around $40 million, but that number is only based on the floor price so we expect it to be higher.

For the moment, BAYC NFTs remain their all-time favourite NFT collection and their high priced NFTs generate massive sales on Opensea each month. However, better security is expected from Instagram. For now, we still don’t have information about how the account was hacked or how they recovered it. 

Those are some key points in this story. We will definitely keep an eye on this subject.

Some other big news about social media trust, security and future changes is that Elon Musk just bought Twitter and plans on getting rid of the scam bots.

Don't forget to follow us @cryptonezo to stay updated with the latest blockchain and cryptocurrency news

Amalia A.
Amalia A.
About the Author

NFT Artist, Book Author & Marketing Strategist Passionate about Blockchain, Crypto enthusiast