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Milady Attack Results in a Loss of Nearly $1 Million in ETH: Report

0 24

Milady Attack Results in a Loss of Nearly $1 Million in ETH: Report

  coinedition.com 4 h

Milady Attack Results in a Loss of Nearly $1 Million in ETH: Report

Milady Founder Krishna Okhandiar, known by his pseudonym Charlotte Fang, recently shared an X post cautioning her followers against a security breach. Fang claimed that her system was attacked, compromising all imported wallets.

My system was hacked and it compromised all imported wallets. If you receive an odd message from any of my accounts, treat with caution. Still assessing, technical post-mortem will follow, but primary damage was the Fumo LP and the NFTs we held staked in NFTX, however NFT… https://t.co/K6w1CBTdFb

— ♡ Charlotte Fang 🐉 Crown Prince ❀ LOVE HEALS 💞 (@CharlotteFang77) March 16, 2024

According to Fang’s X post, the hack resulted in insignificant losses, primarily affecting Fumo LP and staked NFTs within the NFTX platform. The attack reportedly caused a loss of almost 850 ETH, valued at around $1 million, from the compromised wallets. However, she stated, “NFT contract ownerships remain secure on hardware wallets.”

The security breach was first revealed by an X user, Dumpster DAO, who posted, “Remilia treasury appears to have been drained.” They shed light on the suspicious move of assets from multiple official Remilia wallets. As pointed out by them, the assets were moved to the address 0x778Be423ef77A20A4493f846BdbcDDfc30252cE9.

In a subsequent post, Fang shared a detailed explanation of the hack and the platform’s endeavor to recover the assets. She wrote,

The wallet is compromised. We’re unable to transfer the leftover NFT’s out due to gas draining. Many have derivative supplies held in the wallet were left behind because they are not valuable, we’re setting up a counter drain to Mexican-standoff the wallet.

Reportedly, the suspected address has liquidated several Milady-related NFTs like NFTx staked SNFTs. The address reportedly still holds almost $1 million in ETH and other tokens.

The exploiter’s method of hacking still remains a mystery. However, with the blockchain security firm, Peckshield’s revelation of a previous hack that led to the transfer of assets from Remilia’s treasury wallet to the draining wallet suggests further probe and discovery of the matter.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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