Hackers Steal $800,000 from Rare Bears NFT Owners

The NFT project Rare Bears suffered a hacking attack in which cybercriminals stole approximately $800,000 from NFT owners. The attackers posted a phishing link on the project’s Discord channel, allowing them to steal 179 non-fungible tokens (NFTs) from various collections, including Rare Bears, CloneX, Azuki, “mfer,” and six LAND tokens from The Sandbox metaverse. This information was reported by the security company Peckshield.

According to transactions on the hacker’s wallet, the stolen NFTs were quickly sold. The hackers received 286 ETH, which at the current exchange rate amounts to over $795,000. The funds were immediately sent to the Tornado Cash transaction mixer.

How the Attack Happened

The Rare Bears team explained that the hacker gained access to a Discord moderator’s account and posted an announcement about the release of new NFTs. When users clicked the link, they lost access to the contents of their wallets. After gaining access to the Discord server, the hackers blocked other Rare Bears team members from accessing the server and revoked their administrative rights, preventing them from warning users about the fraudulent link.

Response from Rare Bears

Rare Bears stated that the team was able to regain control of the server by removing the compromised account and transferring ownership to a new account. They also assured users that the server is now protected against further attacks.