Metaverse-based platform The Sandbox’s Instagram account got hacked recently, with hackers trying to use it for renting Bored Ape Yacht Club non-fungible tokens (NFTs) from various users on the social media platform, according to Cointelegraph.
As reported by Cointelegraph, the voxel-backed NFT platform’s profile was compromised by hackers, with them promoting a fake raffle ticket event that touted a season 4 LAND giveawayto unsuspecting users. The firm indicated that its two-factor authentication and other security measures had been bypassed to support the fake giveaway. Additionally, the profile;s website uniform resource locator (URL) was subjected to changes, with one user making the claim to have lost NFTs after clicking on the link.
On the basis of information by Cointelegraph, Sebastien Borget, co-founder and chief operating officer, The Sandbox, unveiled that the hackers approached a number of Instagram users with Bored Ape Yacht Club profile pictures with the aim to rent out NFTs, offering 40 Ether (ETH) to use the BAYC NFTs for an entire day.
Moreover, Cointelegraph noted that as stated by Borget, The Sandbox managed to gain control of its Instagram account some hours later, while stories around the fake giveaway were still live on the account at the time of publishing. The NFT-backed metaverse platform has entered into collaborations with brands and celebrities since its Alpha launch in November, 2021. Individuals such as Paris Hilton and Snoop Dogg have entered into collaborations with the platform, while clothing retailers such as Adidas launched NFT wearables to ensure compatibility with The Sandbox and metaverse platforms.
Going by Cointelegraph’s website, founded in 2013, it is a digital media resource covering news on blockchain technology, cryptocurrency assets, and emerging financial technology (fintech) trends. Their team aims to deliver news from both the decentralised and centralised worlds, with news, analytics, cryptocurrency price charts, opinion pieces, and reports on the transformation that digital currencies bring.
(With insights from Cointelegraph)
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