- TRM Labs conducted an analysis and found out that cyber attacks against NFT collections have surged significantly in 2022.
- The loss accounts for over $22 million in the month of May alone.
- The illicit activity is reportedly done by an associated group of hackers utilizing the compromised Discord server admin accounts.
In a recent tweet shared on the official Twitter handle of TRM Labs, a company dedicated to building a safer financial system, the NFT community has collaboratively suffered over 150 compromises since May 2022. The hacks were being targets to the Discord servers of the NFT projects.
The Web 3.0 security firm TRM Labs conducted an analysis, the samples of which indicate the fact that over a dozen of these attacks are closely related. This came to light while studying the most recent Yuga Labs exploit where a consolidation wallet was used by the attacker.
The NFT community has suffered more than 150 compromises targeting NFT projects’ Discord servers since May 2022. A sampling… (1/2) pic.twitter.com/cEdPaV5mQI— TRM Labs (@trmlabs) July 25, 2022
The wallet was linked to the other wallets comprising a direct exposure to other compromises from May and June of this year. The report concluded that the hackers who have placed their targets on the Bored Ape Yacht Club and other NFT projects are segments of a wider network.
As per the recent analysis by TRM Labs, the hacks have cost the NFT community a whopping amount of more than $22 million in May only. The investigator at TRM Labs, Monika Laird, released a statement concerning the same that said:
Since 2022, we’ve seen these compromises happening at scale, specifically on Discord.
Our security team has been tracking a persistent threat group that targets the NFT community. We believe that they may soon be launching a coordinated attack targeting multiple communities via compromised social media accounts. Please be vigilant and stay safe.— Yuga Labs (@yugalabs) July 18, 2022
Over a week back, Yuga Labs shared a tweet that showed concerns about a possible coordinated attack from the group targeting multiple communities via compromised social media accounts. As per the revelations made by TRM Labs, they have obtained more than 100 reports of Discord channel hacks in the past two months.
Back in June, the group targeted the Bored Ape Yacht Club, and it won’t be completely wrong to say that Discord needs to come up with some resolutions regarding the same.
Our Discord servers were briefly exploited today. The team caught and addressed it quickly. About 200 ETH worth of NFTs appear to have been impacted. We are still investigating, but if you were impacted, email us at firstname.lastname@example.org.— Bored Ape Yacht Club (@BoredApeYC) June 4, 2022
The Head of Global Investigations at TRM Labs, Chris Janczewski, said:
If you’re looking for people that own NFTs, you go to a place where they’re all hanging out, and you have a point to be able to make [contact] with them.