A hacker got control of the official Instagram account for the Bored Ape Yacht Club (BAYC) NFT collection and made off with 54 NFTs, valued at around $13.7 million.

The scammers posted a fake announcement asking followers to connect their MetaMask wallet in order to be airdropped LAND, an upcoming governance and utility token as part of its upcoming <a href="https://www.cryptoknowmics.com/news/bored-ape-creator-reveals-launch-date-for-otherside-metaverse-project" target="_blank" rel="noopener">Otherside</a> metaverse project which is due to launch later this week.

The wallets of those who clicked the link appear to have been compromised, with a series of Bored Apes and Mutant Apes being transferred to new <a href="https://etherscan.io/address/0x8c7934611b6ad70fbea13a1593de167a4689b9a9" target="_blank" rel="noopener">wallets</a> by the hackers.

https://twitter.com/BoredApeYC/status/1518637580740399104
<blockquote><em>"At the time of the hack, two-factor authentication was enabled and security surrounding the IG account followed best practices. We’ve regained control of the account, and are investigating how the hacker gained access with IG’s team,"</em> BAYC said in a follow-up tweet.</blockquote>
News about the hack first surfaced on social media and <a href="https://www.reddit.com/r/CryptoCurrency/comments/ubmkfy/bayc_instagram_was_hacked_and_people_got_scammed/" target="_blank" rel="noopener">Reddit</a>, after which the official BAYC account confirmed it and said it will suspend minting for a day.

Bored Ape Yacht Club Official Instagram Account Hacked, $14M in NFTs Stolen

A hacker got control of the Instagram account for Bored Ape Yacht Club (BAYC) NFT collection and made off with 54 NFTs, valued at around $13.7 million.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Bored Ape Yacht Club Official Instagram Account Hacked, $14M in NFTs Stolen

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