Unidentified exploit drains $10.5 million in NFTs across 11 blockchains, reports Metamask Developer

Unidentified exploit drains $10.5 million in NFTs across 11 blockchains, reports Metamask Developer

Time Stamp: April 18, 2023 12:44 PM
Source Node: 2592226

Key Takeaways

Tyler Monahan notes that the exploit had taken over $10.5 million worth of NFTs/coins from experienced crypto community members who were “reasonably secure”.

The exploit targeted keys that were created from 2014 to 2022 and focused on those who were more “crypto native” 

The rising popularity of non-fungible tokens (NFTs) in the decentralized finance (DeFi) space has made it a prime target for hackers. Over the past few months, several high-profile NFT thefts have taken place, highlighting the need for increased security measures.

Recently, MetaMask developer Taylor Monahan reported a massive wallet-draining operation that had taken place since December 2022. The exploit had taken more than $10.5 million worth of NFTs and coins from experienced community members who were “reasonably secure.”

The exploit targeted keys that were created from 2014 to 2022 and focused on those who were more “crypto native” with multiple addresses and work within the space.

Monahan further advised those with their assets in a single private key to migrate their funds, split their assets, or opt for a hardware wallet. The developer also warned that the exploit was not like the usual phishing attempts or random scammers. 

“This is NOT a low-brow phishing site or a random scammer. It has NOT rekt a single noob. It ONLY rekts OGs. If you have all your stuff under a single Secret Recovery Phrase / Private Key, please be safe migrate”, Tyler’s tweet reads. He claims the exploit was a sophisticated attack that did not target newbies but rather focused on experienced community members.

For the past 48hrs I've been unwinding a massive wallet draining operation

Time Stamp:

More from BITRSS