Hacker Heist: Hackers Nab Over $750K of Azuki NFT Platform
Ouch.
Organizers of the NFT platform Azuki recently got a major crash course in cyber security- 101 when hackers managed to take over the platform’s Twitter profile. The cybercriminals allegedly made off with over $750K worth of tokens.
How It All Went Down
The attack was actually quite simple. All the hackers needed to do was take control of the platform’s Twitter account, and they virtually had free access to the funds.
The hackers were able to post to the platform’s Twitter profile and send tweets encouraging others to send their tokens to a fraudulent address. They then quickly locked the platform’s team out.
At this point, the hackers had access to over $750K worth of tokens in just a few simple steps.
The Aftermath
The platform’s team quickly made efforts to contain the damage. They reported the attack and quickly switched over to a new wallet address.
Unfortunately, the platform’s team was not able to recover the stolen funds. Because the transaction was done on the blockchain, it is virtually impossible to reverse it.
The team did, however, reach out to security and crypto exchanges to suspend transactions of the stolen tokens. They have also asked the community to be cautious of any requests for tokens sent through the platform’s Twitter account.
Lessons Learned
This attack serves as an unfortunate reminder of why cyber security and authentication protocols need to be taken seriously.
If organizations want to ensure the safety of their funds and information, they must have the proper security protocols in place. Here are a few steps organizations can take to protect themselves from similar attacks:
- Establish robust secure authentication protocols
- Keep track of all accounts and private keys
- Incorporate stricter security measures for personnel managing funds
- Monitor account activity closely and track unusual behaviour
This story might have ended with losses for the platform, but they can still learn a strong lesson from this incident. And hopefully, everyone else can too.
