Cryptopunks, Otherside Ethereum NFTs Suffer $800k Loss From Fresh Scam Attack

The intrigues of 141 Inactive Punks Worth Millions

Cryptopunks, Otherside Ethereum NFTs Suffer $800k Loss From Fresh Scam Attack

ETH-based NFTs Cryptopunks and Otherside have, on November 4, experienced a cyber attack that resulted in an $800k loss.

The attack was reported on Twitter by a pseudonymous user named ZachXBT, famous for releasing data on crypto scams.

Monkey Drainer, the anonymous entity responsible for the attack, was reported to have stolen 20 Otherside NFTs and 7 crypto punks worth 520 ETH.

They transferred the digital assets between multiple wallets before eventually selling them. They also moved a sum of 400 ETH with Tornado Cash.

The app was penalized by the  US government in August and has been illegal ever since for citizens.

ZachXBT also reported about two other scams perpetrated by the monkey drainer. The attacker had, a week earlier, siphoned assets worth 700 ETH from the wallets of ignorant users who automated malicious transactions in the hope of receiving NFT airdrops.

One of the reasons why their scheme was successful and hard to detect was that they used impersonated Twitter accounts to promote the false airdrop.

Twitter, on the other hand, is a social media platform that is well known to hold legit airdrop activities by crypto platforms.

Therefore, unsuspecting members clicked the links to the so-called airdrops and connected their wallets to receive the free NFTs, only to get their accounts drained.

The anonymous Twitter user estimates that monkey drainer has siphoned a total of $3.5 million before this recent attack was attached to their name.

Currently, the total amount of money stolen in the form of digital assets is $4.3 million. 

Nevertheless, there is an ongoing controversy regarding the identity of the individual or individuals behind the anonymous monkey drainer.

ZachXBT, however, believes that the monkey drainer is likely a single individual, but other scammers may be using his signature and playbook to carry out other cyber attacks.

Nevertheless, no one can say for sure if his hunch is correct. Therefore, the identity of the monkey drainer remains a mystery.

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