Monkey Kingdom, a Hong Kong NFT project, lost 1.3 million US dollars due to phishing attacks and launched a compensation fund

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On Tuesday, Monkey Kingdom, the Solana non-fungible token (NFT) project, which is strongly supported by American DJ Steve Aoki, announced via Twitter that hackers had stolen $1.3 million in encrypted funds from the community through a security breach in Discord.

According to its developers, this hack first occurred in the destruction of Grape, a popular solution for authenticating users on Solana. The hacker then took advantage of the vulnerability to take over an administrative account that posted a phishing link on the announcement channel of Monkey Kingdom Discord. The users who followed the link connected to their wallets, expecting that they would receive the NFT, but the scammers used up their SOL tokens.

Sadly, when users lined up for the second drop of the item, the hack happened.Monkey Kingdom include NFT generated by 2,222 algorithms centered on Monkey King, It is also called “The Monkey King” in Chinese folklore. All proceeds from the initial sale of NFTs will be donated to selected charities to support Asian communities around the world. It is one of the most successful NFT projects originating in Asia.

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A Twitter user named “commenstar” claimed that he lost 650 SOL, worth approximately US$120,400, due to the scam. But nothing is lost. The staff of the Monkey Kingdom have set aside a compensation fund for the victims and are expected to compensate the affected people in full. The timetable and process for allocating funds have not been disclosed.

Phishing attacks are nothing new to the encryption industry.In the past year, scammers have happened repeatedly Target Discord users and take advantage of the platform, By itself, to orchestrate such NFT hacker attacks.