The Solana based NFT project Monkey Kingdom has set up a compensation fund for investors after hackers robbed them of their SOL tokens. Monkey Kingdom refunded around 7000 SOL, equal to $1.2 million.
The Biggest Refund in NFTs
On December 22nd, during a presale of Baeapes, the Monkey Kingdom community fell victim to a hack by scammers. Scammers launched a DDoS attack at the Monkey Kingdom website (during the presale), allowing them to access their Discord.
The hackers targeted what is known as Grape (a Solana verification tool), taking control of a Grape employee account on the platform. The crooks then posted a phishing link, scamming investors out of millions. In total, the hackers stole $1.2 million, making it one of the biggest scams in NFTs.
Monkey Kingdom is one of the most promising NFT projects on the market. Despite the severe attack that cost its community millions, the project responded by setting up a compensation fund to repay those impacted by the scams. The team worked throughout the holidays to set up the fund, refunding those involved within days.
The team’s rapid response to the attack showcased their loyalty to the community and their project’s longevity. Likewise, the response was an impressive feat, considering the young nature of the NFT project.
The Monkey Kingdom Project is Only Getting Better
Since the attack, Monkey Kingdom has bounced back stronger than ever. The NFT project has not only improved its cybersecurity but is looking to expand further into 2022 by building utility-based projects. Furthermore, the project is also looking to extend into other areas such as fashion.
As a result, the NFT project is looking to the horizon and is growing rapidly. Currently, Monkey Kingdom has gathered the support of celebrities such as Steve Aoki, Sunny Wang and Dizzy Dizzo.
In the future, as the project continues to grow, it is sure to amass more famous names from the celebrity world. Likewise, the project will amplify Asians’ voices and experiences as it grows. It will stand shoulder to shoulder with the biggest names in NFTs.
In conclusion, Monkey Kingdom has been just one victim of hacks. However, the project’s response to the cyber security threat has been second to none. The NFT project has shown the power of a community-driven reaction and what NFT projects can do to safeguard investors. In short, the project is a shining example of what to do when hackers come knocking at your door. The NFT platform will continue to grow because of this.
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