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200 ETH Worth of Bored Ape Yacht Club NFTs Stolen in Discord Server Hack

Daily Market Wrap

  • Crypto market cap: 1.27 trillion, up 3.47%

  • BTC price stands at USD 30,979, up 3.90%

  • ETH price stands at USD 1,861, down 5.50%

  • Top gainer: Theta Network (THETA), up 12.52%

  • Top loser: Elrond (EGLD), down 5.30%

News of the Day

Screenshot: Phishing post on BAYC Discord Server

Why it matters:

  • The blue-chip NFT project, Bored Ape Yacht Club (BAYC), had its Discord server hacked on Saturday, resulting in 200 ETH (approx. $360,000) worth of NFTs in theft, Yuga Labs later confirmed

  • Screenshots posted by a Twitter user, OKHotshot, showed that the project’s community manager, Boris Vagner, had his Discord account compromised, allowing scammers to carry out a phishing attack while impersonating him

  • This is the third time that hackers have impersonated a Yuga Labs-run account to steal users’ funds. The first instance was on April 1, when Mutant Ape Yacht Club #8662 was stolen by a phishing link. The second incident occurred via a fake Otherside virtual land minting link; this was done through Bored Ape Yacht Club’s Instagram and Discord

Crypto daily spotlight

SOL Fell Over 12% Thanks To The Outage

Brief introduction: Solana is a decentralized blockchain built to enable scalable, user-friendly apps in DeFi, NFT, and Web 3.0. Solana was officially launched in March 2020 by the Solana Foundation, with headquarters in Geneva, Switzerland.

Why it matters:

  • The Solana blockchain suffered an outage for 4.5 hours on June 1; the team attributed the issue to a bug in the blockchain’s durable nonce transactions feature

  • Validators were later able to restart the network only after disabling these “durable nonce transactions”

  • It is not the first time that the Solana blockchain has suddenly halted — On May 1st the Layer 1 blockchain went offline as well, leading many supporters questioning Solana’s competence

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