Problem: It’s no secret that Discord is a platform that’s full of hacks. It seems like every day, people are being “rugged” and losing millions due to trusting the wrong project leads or through scams targeted at eager Discord members. What if there was a better solution?
Solution: As described by Emmanuel Udotong…
Yesterday, Bored Ape Yacht Club was scammed for over $350K worth of NFTs. This is not the first time and it won't be the last. A quick diagnosis:
1.) This was likely executed through a common social engineering exploit, which gave the scammer access to a BAYC admin's Discord account.
2.) Afterwards, the compromised admin shared a phishing link as a surprise announcement on the Discord.
3.) Naturally, apes 'aped in.' Wallets were subsequently drained of 32 #NFTs in total.
While the funds are being reimbursed, each time a scam like this trends headlines, it further invalidates the #WAGMI thesis. #BAYC gets scammed like this on a monthly basis. #Web3 needs a holistic security solution.
Subscribe here to get access to the first 500 ideas from our blog. For just one coffee a month, you can have access to more than $500 billion dollars of ideas. What's not to love?
Contributed by: Michael Bervell (Billion Dollar Startup Ideas)