Non-fungible tokens (NFTs) have exploded in popularity over the past year. However, amid this popularity, there has also been a rising streak of hacking attacks where NFT investors have suffered massive losses.
DeeKay Kwon, a renowned NFT animator, has suffered an exploit of their Twitter account. The hacked account was used to conduct a phishing campaign on Friday.
DeeKay’s Twitter account hacked
The hackers exploited the Twitter account of DeeKay Kwon to launch a malicious phishing campaign. The move happened on Friday morning after a phishing link to a malicious website was posted on DeeKay’s Twitter account.
DeeKay’s followers who clicked the link were tricked into signing transactions from a harmful smart contract. The post claimed that DeeKay was releasing a new NFT collection limited to just 1,000 people. DeeKay’s Twitter account has almost 180,000 followers, so the scale of the breach was quite large.
The phishing website where those who followed the link were led to instructed the victims to claim fake NFTs. However, after the user approved the transaction for claiming these assets, the attacker gained access to their crypto wallets. The attacker then stole the NFTs from the victim’s wallets.
On-chain data reveals that the hacker stole about 65 NFTs before DeeKay got his Twitter account back and removed the harmful post. The hacker also sold at least $80,000 worth of NFTs, and the funds have been moved to a different crypto wallet. The attacker still possesses around 50 of the stolen NFTs.
DeeKay talked about this breach shortly after recovering his Twitter account. He assured his Twitter followers that he had recovered the account and apologized for the losses suffered. He also urged those affected by the breach to reach out to him, and they would work on establishing a solution.
Rise in crypto phishing campaigns
Some of the largest hacks in the crypto space are conducted through an exploit on the smart contract code. However, many digital assets are also stolen through phishing campaigns. Phishing campaigns involve tricking a user into providing access to their cryptocurrency wallets.
A few days before this exploit, Uniswap, one of the best DeFi exchanges, also suffered from a phishing campaign where around $8.6 million was stolen. The attack targeted Uniswap liquidity providers. The nature of these two attacks is similar.
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