Rare Bears NFT Discord Hack: Scammer Runs Away With $800k In NFTs

Unfortunately, Discord hacks in the NFT space are becoming the norm. The latest hack involved Rare Bears and a scammer who ran away with nearly $800,000 in NFTs.

All about the Rare Bears NFT Discord hack

According to Rare Bears representatives, the hacker gained access to the Project Head’s account. They then posted an announcement within the Discord server, announcing a stealth drop. The compromised account went on to ban every other team member from the Discord server, so no one was able to delete their messages.

Additionally, the scammer invited a fake “Collab.land”; which automatically locked all channels. As a result, none of the members could warn the others that the mint was fake. Finally, the scammer proceeded to post a phishing link designed to steal funds from users’ wallets.

After realising what had happened, the Rare Bears team managed to regain control of the server. The team members did this by transferring ownership to a new Discord account. They also publicly promised their members that this new account will never interact with members, click any links or accept friend requests.

In addition, security consultant Pandez performed a full security audit to ensure that permissions are reinstated to the team members. Furthermore, Pandez made sure that the server is no longer as vulnerable to attacks as before.

Similar attacks have been common in recent months. Fortune Friends Club, Phantom Galaxies and Deadfellaz are just a few projects that have recently experienced devastating Discord hacks.