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Hong Kong NFT project Monkey Kingdom loses $1.3M in phishing hack, launches compensation fund

Published 12/22/2021, 04:06 PM
Updated 12/22/2021, 05:40 PM
TWTR
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On Tuesday, Solana nonfungible token (NFT) project Monkey Kingdom, which has received notable backing from American DJ Steve Aoki, announced via Twitter (NYSE:TWTR) that hackers made off with $1.3 million of the community's crypto funds through a security breach on Discord.

According to its developers, the hack first occurred with the breach of Grape, a popular solution for verifying users on Solana. Hackers then used the exploit to take over an administrative account, which posted a phishing link in the Monkey Kingdom Discord's announcement channel. Users who followed the link connected their wallets expecting they would receive an NFT but instead were drained of their SOL tokens by the scammer.

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