Monkey Kingdom NFT Suffers $1.3 Mln Losses In Phishing Attack.

Monkey Kingdom NFT Suffers $1.3 Mln Losses In Phishing Attack.

2021-12-24 | Daniel Smith

Monkey Kingdom NFT Suffers $1.3 Mln Losses In Phishing Attack.

The Monkey Kingdom, a Solana nonfungible token (NFT) project backed by American DJ Steve Aoki, reported through a Tweet earlier on Tuesday that hackers stole $1.3 million of the community's crypto-cash via a security flaw on Discord. As per their creators, the attack began with a vulnerability of Grape, a common approach for validating people on Solana. The vulnerability was subsequently utilized by cybercriminals to gain control of an administrator account, which then published a phishing link on the Monkey Kingdom Discord's notification channel. Users that clicked on the link linked their wallets anticipating getting an NFT however rather were robbed of their SOL tokens by the fraudster. Unfortunately, the breach occurred just as customers were lined up for the project's second delivery. The Monkey Kingdom is made up of 2,222 algorithmically created NFTs that revolve surrounding Sun Wukong, often referred to in Chinese tradition as "The Monkey King." The earnings from the original sale of the NFTs were to be donated to a chosen cause, with the goal of aiding Asian communities across the globe. It was among the most effective NFT initiatives to emerge from Asia. One person on Twitter, "commenstar," claimed to have suffered a loss of 650 SOL, or about $120,400, as a result of the hoax. Yet not all was gone. Monkey Kingdom's team has set up a compensation fund for sufferers and is on pace to fully pay individuals impacted. The timetable and procedure for dispersing the monies have not yet been revealed. Phishing assaults are not novel to the cryptocurrency business. Scammers have frequently targeted Discord members and used the site itself to arrange similar NFT breaches over the last year.

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