BAYC Instagram Hack: Hackers Steal $3M Worth Of NFTs

BAYC Instagram Hack


The Instagram account of Bored Ape Yacht Club i.e. BAYC NFTcollection was hacked on Monday. A phishing link was dispatched out to users which was designed to steal NFTs. As per reports, three million dollars worth of crypto was swiped from the victims.

After the incident, a BAYC spokesperson mentions roughly estimated losses due to the scam.  The losses included 4 Bored Apes, 6 Mutant Apes, and 3 BAKC (Bored Ape Kennel Club), also other NFTs estimated at a total value of $3M in losses. 

After compromising the Instagram account the hacker posted a fake airdrop link to the upcoming company’s new project Otherside metaverse. The project is due to launch later this week. A crypto airdrop is mainly about boosting awareness for new projects or services. The thought behind this is to send tokens or NFTs to thousands of crypto addresses hoping that more and more recipients engage and also promote the corresponding project. To obtain an airdrop, users are instructed to connect their crypto wallet where their NFTs are reserved.

However, when users did so, the fraud site stole the digital assets out of their wallets and transferred them to the hacker’s wallet.

Here is the tweet following the incident,

Post Hack Actions

After discovering the hack, the BAYC team pulled out the fake links on the compromised Instagram account. The company emphasized that they will never promote mints on the BAYC or Otherside Instagram accounts first, ever. The only source of information for such mints will be available on BAYC’s Twitter account. 

How the hacker managed to get inside the BAYC Instagram account is still not clear. The ape avatar platform says that the hack occurred even when two-factor authentication was facilitated on the account. 

Gargamel who is one of the Yuga Labs’ founders mentions that the security practices surrounding the IG account were secured on Yuga’s end. Further, he adds that nothing important will ever get posted on Instagram again.

Blockchain investigator, @zachxbt on Twitter searched into the wall hacker’s wallet address and found that 4 Bored Apes, 7 Mutant Apes, and 3 Bored Ape Kennel Club NFTs were among the highly-valuable NFTs that were stolen. BAYC NFT is held by celebrities, such as basketball icon Steph Curry, music artist Post Malone, and even American TV host Jimmy Fallon.

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