Hacker took over Twitter from Beeple, followers may have lost up to $438K – ARTnews.com

Yesterday, an unknown hacker took control of digital artist Beeple’s Twitter account for five hours and posted malicious links, potentially resulting in the loss of more than $438,000 worth of cryptocurrencies and NFTs.

The hacker teased a fake Louis Vuitton x Beeple partnership, first tweeting a raffle entry and then a link where followers could claim one of the 200 free NFTs that Beeple was supposedly offering.

“Stay safe out there, anything that’s too good to be true IS A FUCKING SCAM,” Beeple tweeted sunday morning† “And as a side note, there will never be a SURPRISE MINT I mention once in one place, starting at 6 a.m. Sunday morning. “

While it’s still unclear exactly how much money was lost, Harry Denley, a developer and security expert at MetaMask, estimated that the first scam link resulted in the loss of 36ETH, or about $73,000, he said. in a series of tweets† The second link, he said, was more sophisticated and was able to empty wallets of Ethereum, Wrapped Ether (a token pegged to Ether), and NFTs, yielding $438,000 in losses according to his calculations.

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Beeple, whose real name is Mike Winkelmann, said: ART news that it is impossible to know whether money was actually lost in the hack.

“I’m not sure you know, but it’s literally impossible to tell if ANY money was stolen,” Beeple told ART news in a text. “Anyone can just make a wallet and then transfer the money to it to make it ‘appear’ [that] they lost money through washtrading. What people do and then try to persuade someone to give them a ‘refund’.”

Beeple is arguably the most famous digital artist in the world after his record sales from the NFT Every day: the first 5,000 days at Christie’s for $69.3 million last March. With a large following of 673,200 people and a reliable reputation, Beeple was a perfect target for this type of scam.

Twitter user Nate Jones, a warehouse worker in Indiana, was one of many who reacted with disappointment to Beeple’s tweets about the hack. Unlike Jones, many asked the artist for refunds or claimed they had lost their savings, although such claims would be difficult to verify.

“I woke up and saw Beeple’s post and assumed it was real because it has been verified,” Jones said. ART news in a direct message. Jones described rushing to get the money into his account to enter the lottery and trying to push through two trades. “It was a completely fingers crossed moment, hoping to essentially arrive at a free piece of art.”

Jones said he lost less than a few dollars. A screenshot he sent of the transaction showed that the link he clicked was for a free raffle and he only had to pay the gas bill. This is strange in two respects, firstly that Jones no longer had to pay for the lottery, and secondly that his gas costs were unusually low. These hacks often affect different victims differently, and it’s hard to know why.

The crypto space has been hit by a number of hacks this year.

Last month, the Bored Ape Yacht Club’s Instagram page was hacked, resulting in a $3 million loss of assets in a phishing scam. Just last week, comedian Seth Green reported that he had lost several NFTs to a phishing scam.

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