The Bored Ape Yacht Club’s Instagram was hacked in a $2.7 million NFT phishing attack

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Bored Ape Yacht Club (BAYC) announced on Monday that its Instagram account had been hacked, resulting in a phishing attack in which hackers stole around US$2.7 million worth of NFTs, according to CoinDesk.

“There is no mint going on today. It looks like BAYC Instagram has been hacked. Don’t punch anything, click on links, or link your wallet to anything,” the company warned on Twitter.

According to data shared by Vice, the hacker stole 134 NFTs by using BAYC’s Instagram account to falsely advertise an “Airdrop”, in which users were asked to sign a transfer agreement that shared their assets with the hacker. The scam promised users free tokens in exchange for connecting their MetaMask wallets to the website.

The stolen digital assets included several Yuga Labs NFTs, including Bored Ape, Mutant Ape, and Kennel Club NFT. Among them, Bored monkey 6623which is pictured above, was the most expensive token, having recently sold for 123 Ethereum, or around $354,500 at the current exchange rate, according to Engadget.

“At the time of the hack, two-factor authentication was enabled and the security surrounding the IG account followed best practices,” the company said. . “We have regained control of the account and are investigating how the hacker gained access to the IG team.”

It is unclear how the hacker was able to compromise BAYC’s Instagram account.

In other NFT news, Bored Ape Yacht Club will be covering a limited run of Monkey Shoulder whiskey.

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