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A Hong Kong NFT project, the Monkey Kingdom, loses $1.3 million in a phishing attack By BTC Peers

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Monkey Kingdom NFT, a Hong Kong NFT, is hit with phishing attacks that cost $1.3M

American DJ Steve Aoki’s Monkey Kingdom project is a nonfungible token NFT. On Tuesday, Twitter (NYSE:), reported that hackers took $1.3 million from the crypto fund community. This was due to a Discord security breach. The intrusion started with Grape’s vulnerability, which is a common method of validating Solana users. The exploit was used by hackers to take control of an administrative account and post a link via the Monkey Kingdom Discord announcement channel. The scammer robbed the SOL tokens of users who had connected to their wallets at the URL expecting an NFT.

You can also read: NFT forgeries are not going away anytime soon

The attack happened just as the users were getting ready for the second release. Sun Wukong is also called “The Monkey King” by Chinese custom. The Monkey Kingdom is composed of 2,222 algorithmically-created NFTs. With the aim of helping Asian communities worldwide, all the earnings of the NFTs’ first sales were to go to charity. This was the first successful NFT initiative to come out of Asia. One Twitter user claimed that he lost approximately 650 SOL, worth $120,400, due to hacking. He believed it to be the original mint link on the discord channel.

“Guys, I got depleted 650$SOL.It’s one of the biggest mistakes I made. But I wasn’t nervous about using it and I used Monkey Kingdom Mint. I didn’t know it was a link to official discord. It is very important money for my family, including my wife and my son.

The staff of the Monkey Kingdom have set aside an indemnity fund for victims, and are on track to compensate anyone who has been properly harmed. It is not yet known what the procedure and timeframe will be for disbursement of these funds. Phishing attacks are not uncommon in the crypto industry. Scammers are targeting Discord users, and using the site to organize similar NFT attacks in the past year. After receiving compensation, they are asked to make sure that the community is aware of it.

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