Crypto Alert: BAYC NFT Trader Suffers $145K Loss in Phishing Scam

• An NFT trader has lost over $145,000 worth of tokens in a Bored Ape Yacht Club (BAYC) phishing scam.
• The scam was perpetrated by an attacker identified as “PinkDrainer” who stole three valuable BAYC NFTs from the trader’s wallet.
• This incident highlights the increasing prevalence of phishing scams in the crypto industry, with over $104 million lost to such scams in 2024 alone.

An NFT trader falls victim to a BAYC phishing scam, losing $145K worth of tokens. This incident underscores the growing threat of phishing scams in the crypto industry.

The BAYC Phishing Scam That Led to the Loss of $145,000 Worth of NFTs

Bored Ape Yacht Club (BAYC) is a collection of 100,000 Ethereum-based collectibles. These NFTs are among the most influential and expensive ones around. The trader known as “tatis.eth” fell victim to a phishing scam, resulting in the loss of three BAYC NFTs. The stolen NFTs were transferred to a phishing address and were sold for a total of 48.5 ETH, equivalent to approximately $145,000.

PinkDrainer: A Recurring Perpetrator in Crypto Phishing Scams

This is not the first time the “PinkDrainer” scammer has been involved in such activities. A similar phishing scheme was reported where a victim’s wallet was drained of $92,800 worth of Ethereum to the same “PinkDrainer” address. In December 2023, the same hacker group reportedly stole Chainlink (LINK) tokens worth $4.4 million by tricking users into authorizing transactions linked to the “IncreaseAllowance” function.

Over $104 million Has Been Lost to Crypto Phishing And NFT Scams in 2024

The crypto industry has seen enormous losses due to phishing attacks in the first two months of 2024. An estimated 97,000 users have fallen victim to these sophisticated scams, resulting in a total loss of $104 million worth of cryptocurrencies. The Ethereum ecosystem has been specifically targeted, with $78 million of the total losses coming from users’ Ether and ERC20 tokens being drained from their wallets.

Conclusion

This incident underscores the growing threat of phishing scams in the crypto industry. With over $104 million lost to such scams in 2024 alone, it is crucial for traders and investors to be vigilant and take necessary precautions to protect their digital assets.