Nasty Phishing Hack Loses Enthusiastic Ape Coin Fans Over $75k

Twitter user and crypto investigator zachxbt recently revealed a phishing hack that drained over $75k worth of assets from multiple crypto wallets. A day earlier, BAYC just launched the Ape Coin, and enthusiastic fans were ready to buy $APE. Unfortunately, scammers quickly set up a phishing site, drawing people to a link that eventually stole their NFTs and ETH.

Scammers bought hacked verified Twitter accounts and used them to promote their phishing site. Then, they tweeted about the recent ApeCoin launch, claiming they’ll do an airdrop for NFT traders and holders.

To get to their motive faster, the scammers also used bots to tag people in the replies. Eventually, unsuspecting individuals clicked the link, connected their wallets, and woke up to see their assets gone. Reportedly, the phishers had also stolen an Azuki.

How Fans Could Avoid the Next Ape Coin Hack

The proactive crypto watcher zachxbt has given advice to hyped up Ape Coin fans and other newbies in the space. “Always triple check the site you are connecting your wallet to so you don’t become the next victim,” says zachxbt in the last bit of his Twitter thread.

When the ApeCoin team learned about the scam, they also tweeted to warn people and advised them to go through the official site, Apecoin.com.

But while people could be more careful about links, it’s disappointing how easily hackers could jump into verified Twitter accounts. Once these blue-checked profiles are compromised, hackers sell them on forums for $1000-5000. Crypto scammers could then buy the accounts and use them to launch trouble such as the Ape Coin hack.

Dubbing himself as an on-chain sleuth, zachxbt has been creating Twitter threads to expose shady actors in the crypto and NFT space. The blockchain investigator is known for breaking down what sketchy projects have been doing and warning everyone on the social platform. He has also explained the term “soft rug pull,” the recent toxic trend in the NFT industry.