Monday, February 6

NFT project investors lose R$7.4 million

An NFT project called Monkey Kingdom left several of its investors in the lurch after a phishing attack on a communications application. In total, R$7.4 million in Solana (SOL) were stolen. Despite this, the team rewarded all those injured in this incident.

To celebrate, the team held a party in the metaverse with Steve Aoki. The DJ was already promoting the project before the attack took place and luckily everything turned out well for the investors.

This isn’t the first time hackers hijack official project communication channels. Despite being rewarded, the incident raises serious security issues, after all, there is no one to trust.

loss of millions

The project used the Discord, a communication app, to disseminate information about the collection created on the Solana network, however a group administrator had his account hacked and then used to promote a fake link as if it were the original.

As a result, victims sent around 7,000 Solana (SOL) to the hacker’s address by accessing this fake link thinking it was taking them to purchase Monkey Kingdom’s NFTs. The equivalent amount in reais exceeds 7.4 million.

Despite this, the project’s developers have announced that they will be rewarding all users who lost money in this attack.

β€œMonkey Kingdom community, we’re back! We’ve started processing the compensation claims and will get in touch with people as of today.”

The image above shows that the team managed to gather more than 7,000 SOL and according to reports from some users, the amounts have already started to be distributed.

Party no metaverse

NFT collector Steve Aoki was promoting the Monkey Kingdom project and even held a Christmas party in the metaverse, reaffirming the potential of this sector that caught everyone’s attention this year.

Despite the refund, and the party, the R$7.4 million attack raises serious security concerns by using third-party platforms to promote token sales and NFTs. After all, you can’t even trust messages from administrators.

The NFT market drew attention in 2021, with the growth of the sector among cryptocurrency investors and even by people who were previously critical of Bitcoin, such as Brazilian Tiago Reis, for example, who suggested that the Brazilian stock exchange pay attention to this market.

However, with millions of dollars traded in this market daily, many platforms have been targeted for attacks. One of the reasons NFTs became popular was also because of the play-to-earn games in the industry.