Saturday, July 2, 2022

Hacked Beeple Twitter account posted a phishing link duping people of $ 438,000

The Takeaway:

Two links to a phony Louis Vuitton non-fungible token (NFT) lottery were shared to capitalize on a recent real partnership between Beeple and the luxury fashion company.

From the compromised Beeple account, a targeted phishing operation scammed people of $ 438K in crypto and NFTs.

Fake NFT raffle links were posted on Beeple’s Twitter account to capitalize on his recent new relationship with Louis Vuitton, a luxury fashion company.

Beeple, a well-known non-fungible token (NFT) developer and digital artist, was the victim of a phishing attack on his Twitter account on Sunday, May 22.

Suppose you clicked on the link in Beeple’s tweet about a Louis Vuitton collaborative raffle. In that case, you’d be taking crypto out of your wallet, according to Harry Denley, a Security Analyst at MetaMask.

Scammers were presumably hoping to take advantage of a legitimate partnership between Louis Vuitton and Beeple. To celebrate the launch of “Louis The Game” earlier this month, Beeple created 30 NFTs as gifts for participants.

Users who clicked on the links from Beeple’s Twitter account were taken to phony collections, where they were promised a free mint for unique NFTs in exchange for their trust.

More than $ 438,000 stolen in just 5 hours

Around five hours after Beeple tweeted the phishing links, an on-chain scan of one of the crooks’ wallets revealed that they had received 36 Ethereum (ETH) worth around $73,000.

More than $365,000 worth of ETH and NFTs from high-value collections such as Mutant Ape Yacht Club, VeeFriends, and Otherdeeds were taken by the fraudsters through the second link.

NFTs are being sold on OpenSea, and ETH stolen by the fraudsters is being laundered to cover their tracks.

On regaining control of his account, Beeple tweeted: “ugh we’ll that was fun way to wake up. Twitter was hacked but we have control now. Huge thanks to 

@garyvee

 ‘a team for quick help!!!! “

“Stay safe out there, anything too good to be true IS A FUCKING SCAM. And as side note, there will never be a SURPRISE MINT 

I mention one time in one place starting at 6am Sunday morning,” Beeple continued.

Beeple is the creator of three of the ten most expensive NFTs ever sold, including the most costly one ever sold to a single purchaser at $69.3 million. Hackers are taking advantage of the attention he’s received.

 

Increasing NFT scams

Last month, scammers gained access to a Beeple Discord moderator account in November 2021 and advertised a similar false NFT drop, causing users to lose almost 38 ETH.

A few days back, hackers hacked the University of the Philippines’ Twitter for the NFT Drop Promotion of Takashi Murakami.

The hackers changed to account name to “Takashi Murakami,” then they announced an airdrop of “Murakami Flower Seed” non-fermentable seeds (NFTs). The bio was also removed, and the account’s location was changed to Tokyo.

According to some tweets, the NFTs were free to claim, but a ‘Gas’ price was imposed. However, the tweets were shortly deleted, and the account was restored.

Malwarebytes issued research earlier this month showing increased phishing attempts as scammers capitalize on the NFT excitement. According to the company, scammers frequently use fake websites that appear as reputable platforms. 

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Dorsey Gray
Dorsey Gray
Dorsey works in the oil and energy industry since he graduated as a mechanical engineer from Bagdad Senior High School. However, he loves to explore and write about the financial world while he sits in the balcony of his beachside room. Dorsey also loves to cook, but just for himself.

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