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Beeple Twitter account hack resulted in a loss of $438K; here's what happened
This Sunday, renowned NFT creator and digital artist Mike Winklemann, commonly known as Beeple, faced his Twitter account getting compromised, leading to a significant phishing scam.
Beeple's Twitter account hacked
A security analyst at Metamask, Harry Denley, first noticed the attack and alerted the users that the tweets at the time on Beeple's account had a link connected to a phishing scam.The link, which looked like a raffle of a Louis Vuitton NFT collaboration, was actually aiming to steal crypto out of users' wallets. It attracted innocent people with the promise of a free mint for unique NFTs.
The attackers were most likely endeavoring to profit off an actual recent collaboration between Beeple and Louis Vuitton. Notably, Beeple produced 30 NFTs for the premium fashion brand's "Louis The Game" mobile game in May, which were used as incentives for players.
The phishing links were live on Beeple's Twitter for around five hours, and an on-chain investigation of one of the fraudsters' wallets showed that the first phishing link netted them 36 Ethereum (ETH), which was worth about $73,000 at the time.
Via the second link, the scammers got roughly $125,000 in ETH, $75,000 in WETH, and $166,000 in NFTs from major NFT collections, including the Mutant Ape Yacht Club, VeeFriends, and Otherdeeds. This brought the total value stolen from the scam to around $438,000.
Repeated attacks
Following the five-hour attack, Beeple tweeted that he had regained control of his account. He said that anything too good to be true always ends up being a scam. However, many waited for hours for outband verification (on another social platform) before taking a sigh of relief.Beeple, who is known for its NFT creations and sold three of the top ten most expensive sold in the history of the NFT sector, has always been a target for scammers. Last year in November, scammers hacked an admin account on his Discord channel and promoted a similar fake NFT drop resulting in a loss of around 38 ETH.
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