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Twitch co-founder’s new NFT platform hit with NFT scam ⚠️

Events Under the Spotlight

  • Monkey NFT, a Hong Kong based metaverse project, disclosed its Discord server was hacked which resulted in hackers stealing $1.3M in $SOL from the community.
  • The hacker attacked Grape Protocol, a social network management tool on Solana, taking advantage of a vulnerability.
  • Monkey NFT has reimbursed amounts to the affected users.
  • Justin Kan’s NFT platform Fractal, which was supposed to launch on Christmas, experienced a community wide hack which resulted in a total loss of $600K and 100,000 affected users.
  • The hacker gained access to Fractal project Discord server’s announcement channel who then encouraged community members to pay for new NFTs and promised them 3,333 NFTs.
  • The direct link which took members to a site asking to mint NFTs for 1 $SOL was found to be fake (phishing URL).
  • According to the team, the hacker made $150,000 or ~ 800 SOL.
  • A scam was uncovered where the scammers reveal Ethereum wallet address with private key.
  • The user needs to add ETH to cash-out the wallet but cannot sell the tokens due to the low liquidity in the pool.
  • The wallet is publicly monitored and transferred funds are instantly withdrawn by the scammers.
  • Visor Finance, a DeFi protocol for liquidity management, fell victim to an exploit for vVISR staking smart contract.
  • A malicious contract drained 8,812,958 VISR tokens.
  • The project will implement token migration based on a snapshot before the exploit.
  • As a result of the hack, the price of the $VISR token plunged to 95%. The total loss is $8.2 Million.
  • WePiggy, a DeFi bank, experienced a short-term error in the CHE oracle causing the CHE price to be much higher than the actual market price.
  • The team has started compensation. The team also released a detailed analysis of the hack.
  • Bent Finance, a staking and farming platform, notified the community of an exploit discovered after Bent Finance was added to DeBank from the Bent Finance deployer address and requested users to withdraw their funds.
  • All rewards have been paused while the team investigates the Bent Curve LP pool. Detailed analysis by the team available here.
  • Grim Finance, a compound income platform, suffered flash loan attack with the exceeding loss of $30 Million.
  • Smart contracts have been suspended at the time of writing.

To the Numerophiles out there 🔢

  • First SMS Reading ‘Merry Christmas’ Sold as an NFT for $120,600.


More From the Editor’s Desk

The total value locked in the NFT market has soared exponentially during 2021 so has the conceptualization and creation of metaverses.

From Web 2.0 to Web 3.0, from Social Media to SocialFi, this is not only the inevitable path of technological development, but also the inevitable requirement for users to safeguard their own interests.

In the future, SocialFi will become an important part of the decentralized metaverse.

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