Milady NFT Creator Charlotte Fang Victim of Multi-Million Dollar Hack

Milady NFT Creator Charlotte Fang Victim of Multi-Million Dollar Hack

Charlotte Fang, the visionary behind the Milady NFT collection, disclosed a significant breach in security on March 16th, attributing it to an unknown hacker who siphoned off millions in Ether (ETH) and non-fungible tokens (NFTs) from the treasury of Remilia, the decentralized autonomous organization (DAO) behind the Milady Maker project.

Initial reports of the breach surfaced through a message shared by Dumpster DAO, an X user, showcasing Fang’s distressing revelation about the drained Remilia treasury. According to Dumpster DAO’s account, the hacker not only offloaded valuable NFTs but also pocketed approximately $1 million in ETH, funneling it to another wallet.

Fang corroborated these claims on social media, confirming the breach and cautioning the community about potential scams. While reassuring that NFT contract ownerships remain intact on hardware wallets, Fang acknowledged the financial repercussions, particularly affecting staked NFTs.

Blockchain security analysts, including those at Peckshield, are dissecting the incident, tracing it back to a suspicious transfer preceding the breach.

This incident adds to Milady’s troubled history, as Fang had previously disclosed a $1 million embezzlement in September 2023. The perpetrator, associated with the Bonkler project, pilfered fees generated by Remilia, leading to legal repercussions. Furthermore, the rogue developer allegedly seized control of social media accounts, prompting Fang to caution users against compromised accounts and provide new official handles.

The latest hack underscores the vulnerability of decentralized platforms and the need for robust security measures to safeguard users’ assets and uphold trust in the burgeoning NFT space.

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