The Milady NFT collection’s visionary force, Charlotte Fang, officially confirmed a significant breach in security on Saturday, March 16th.
Fang reported that an unidentified hacker had unlawfully transferred millions of dollars’ worth of Ether (ETH) and non-fungible tokens (NFTs) from the treasury of Remilia, the decentralized autonomous organization (DAO) overseeing the Milady Maker project.
The revelation of this security breach initially surfaced through a post by Dumpster DAO, a user known as X, who shared a distressing message supposedly from Fang, also known as Krishna Okhandiar, indicating the depletion of the Remilia treasury.
In a comprehensive narrative, Dumpster DAO emphasized that the enigmatic wallet involved in the incident not only liquidated valuable NFTs but also succeeded in withdrawing about $1 million in ETH and relocating it to a secondary address.
In response to escalating concerns within the cryptocurrency community, especially among Milady NFT holders, Fang turned to social media to confirm the breach. Fang mentioned that the hack impacted multiple wallets, cautioning the community to remain vigilant of any suspicious communications.
Despite the breach, Fang assured holders that NFT contract ownerships remained secure and were stored in hardware wallets. Nevertheless, the immediate financial repercussions included the compromise of various staked NFTs.
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Security experts in blockchain, such as Peckshield, have commenced a detailed examination of the incident, identifying an earlier questionable transfer that may have catalyzed the unfolding crisis.
This event marks not the first time Milady has encountered controversy; back in September 2023, Fang disclosed that a developer had siphoned $1 million in generated fees. Fang stressed that both the rogue actor and any other involved individuals would face legal repercussions.
Addressing the alleged embezzlement in a tweet, Fang revealed that the developer had been involved in the Bonkler project, affecting fees from Bonkler generated by Remilia.
Furthermore, the developer reportedly took possession of codebases and colluded with accomplices to attempt a takeover of the platform’s social media accounts, successfully gaining control of X accounts MiladyMaker and Remilioniare, while restraining RemiliaCorp. Fang advised users to regard the affected accounts as “compromised” and provided new official X handles.
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