NFT Bored Ape Yacht Club (BAYC) Instagram Account Hacked By Hackers, 100 NFT Lost!

NFT Bored Ape's Instagram account was hacked by hackers. (OpenSea)

JAKARTA – One of the most popular NFT Bored Ape Yacht Club (BAYC) was reported to have experienced a hack on BAYC's Instagram account on Monday, April 25 yesterday. After taking over the account, hackers shared a link to a fake airdrop that was created similar to the BAYC project.

The phishing act managed to trick the NFT owners and link their MetaMask wallets to the hacker's fraudulent site. This illegal act managed to steal around 100 NFT from the user's MetaMask wallet.

According to a Cointelegraph report, it appears that the attack was planned to coincide with the one-year anniversary of the launch of the BAYC collection, thereby increasing the “perceived credibility”” of the phishing links.

Based on data from CoinGecko, the base price of each BAYC NFT is around 139 Ether (ETH), or 400,726 US dollars. So, if the reports are true, assets worth more than 40 million US dollars have been lost in the attack. However, the figure may represent only a lower estimate, as it is based on the base price.

At the time of publication, it was unclear how the hackers gained access to BAYC's official Instagram account. While social media users point to the importance of two-factor authentication as an effective deterrent against unauthorized logins, others say the method is not so straightforward.

BAYC has grown to become the all-time favorite NFT collection in the crypto world, generating over $1 billion in sales by 2021. NFT BAYC has a limited total supply of only 10,000 NFTs available. In the past month, more than 38,748 ETH ape items were traded on the OpenSea marketplace.

Until now the hacking action has not been revealed, it is also not known whether BAYC will cooperate with the authorities to conduct an investigation related to this illegal act.