Fake Instagram Mint Invitation from BAYC Aims to Steal Rare Apes

BAYC has seen previous exploits, with no organized mechanism to delist stolen avatars.
  • Instagram hack led to the distribution of malicious links.
  • Rare Apes from the Bored Ape Yacht Club collection were stolen, along with other collections.
  • BAYC aims to join the play to earn space through APE token and Yuga Labs.

Bored Ape Yacht Club (BAYC) warned about a fake mint solicitation making the rounds on Instagram. The links sent out to followers contained a malicious attempt to empty out wallets with valuable NFTs. Apes are among the top collections, with floor prices currently at 147 ETH. Apes are known as blue-chip NFTs and aim at an image of exclusivity.

BAYC warned its Instagram account was hacked, with reports of renewed Discord attempts to spread fake links.

A total of 10K Apes are listed on OpenSea, in case some of them fetch a high price. Apes have been stolen in the past, but there is no official way to blacklist or ban NFTs. The item can also be sold through other channels, and it is not a widespread practice to intercept stolen avatars.

There is some clarity which assets were affected, and the nature of the attack is still investigated.

ApeCoin (APE) Rises Despite Exploit

The news of the exploit did not hurt ApeCoin (APE), the recently launched token based on the Ape collection fame. APE traded at $18.16, rising more than 7% in a single day, and actually acting stronger compared to other assets. 

APE is mostly used to popularize crypto and NFTs, with multiple giveaways. Most cannot be vetted and should be taken with a grain of salt. The best approach is to use empty wallets when engaging with airdrops or other offers. 

Is a P2E Ape Game Coming

Recently, Yuga Labs, the creator of BAYC, tweeted a teaser on a new launch coming April 30. Otherside Meta may be a digital venue and the first game launch for Yuga Labs. 

There are no more details what will be hidden in Otherside Meta, and what utility the apes would have. 

In March 2022, NWayPlay, a marketplace and game developer, announced APE would also be used as a native asset in an upcoming P2E game. So far, there are almost no details on the nature of the game or the potential for Ape avatar and token usage.

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