Millions of dollars worth of NFTs were stolen in Instagram phishing attack.
An Instagram phishing attack has resulted in the theft of 91 Bored Ape Yacht Club NFTs, worth around $2.8 million. BAYC, as its known in NFT circles, is run by Yuga Labs, one of the most mysterious NFT collectives in the space, which recently raised $450 million at a $4.5 billion valuation. The exploit allowed the attackers to steal BAYC NFTs from wallets that were fooled into accepting a fake airdrop, which is usually a method for distributing free NFTs or other digital assets. BAYC’s Instagram account was used to promote the LAND fake airdrop, according to The Block, which ties into the organization’s broader plans to release NFT-based games.
