In the latest crypto saga, the founder of Remilia appears to have fallen prey to a hacking incident, which saw a significant amount of Ether and non-fungible tokens (NFTs) being illicitly transferred.
The breach came to attention when Dumpster DAO on X platform shared a screenshot allegedly showing Krishna Okhandiar, also recognized as Charlotte Fang, lamenting, “I got drained,” alongside a link to an address that received assets from Remilia-associated wallets.
Remilia, functioning as a decentralized autonomous organization (DAO), oversees the Milady Maker NFT collection.
Blockchain data indicates that the perpetrator has offloaded numerous NFTs linked to Milady, including those staked on NFTx.
Furthermore, the hack has resulted in approximately $1 million worth of Ether being moved to another address, which currently holds nearly $1 million in Ether and various other tokens, as per the latest reports.
Hacking Method Remains Unkown
The precise method of the alleged hack remains shrouded in uncertainty.
“Still assessing, technical post-mortem will follow, but primary damage was the Fumo LP and the NFTs we held staked in NFTX, however NFT contract ownerships remain secure on hardware wallets,” Fang stated in a post on X.
Adding further intrigue to the crypto turmoil, blockchain security firm PeckShield disclosed a prior transaction from the Remilia treasury wallet to the address implicated in the drainage.
In September 2023, Fang made a revelation on the X social platform, disclosing that a developer within the Milady ecosystem had redirected approximately $1 million in fees from Remilia Corporation.
Fang alleged that the assailant had seized control over three X accounts, including Miladymaker and Remilionaire, while Remiliacorp found itself locked out.
Milady, introduced in 2021, comprises a collection of 10,000 anime profile picture NFTs crafted by Fang.
The collection garnered public acknowledgment from Tesla CEO Elon Musk in May 2023, when he shared a meme featuring imagery from the Milady NFT collection.
This endorsement sparked a rapid surge in the floor price of Milady NFTs, which catapulted from 3.8 ETH to 7.8 ETH.
Crypto Hacks Continue to Take Victims
Concerns regarding hacks and exploits have escalated within the crypto industry, particularly in the domain of decentralized finance (DeFi) applications.
As per a report by Immunefi, the total losses to crypto hacks and scams in 2023 amounted to $1.8 billion, with 17% of these losses attributed to the North Korean Lazarus Group.
In specific incidents, hacking constituted over $65 million (97.54%) of the stolen funds in February 2024 alone.
Just last month, the token associated with the layer-1 blockchain Shido plummeted by 85% following an exploit targeting the project’s Ethereum-based staking contract.
This exploit on Shido occurred merely a day after Serenity Shield, a multi-chain data storage startup, suffered a theft that compromised its MetaMask wallet.
According to reports, malicious actors have absconded with $38.9 million from various Web3 projects in the initial month of 2024.
One of the foremost crypto hacks of the year unfolded when Radiant Capital incurred a loss of $4.5 million due to an empty market exploit.
Subsequently, Gamma Strategies, another affected platform, succumbed to a flash loan attack on January 4, shortly after the Radiant Capital incident.
