Crypto Controversy: Founder of Remilia Alleges Hacking Amid Ether and NFT Transactions

Amidst a fresh wave of cryptocurrency turmoil, the founder of Remilia appears to have fallen prey to a hacking incident involving the unauthorized transfer of significant amounts of Ether and non-fungible tokens (NFTs).

The incident surfaced when Dumpster DAO on X shared a screenshot of Krishna Okhandiar, also known as Charlotte Fang, expressing, “I got drained,” alongside a link to an address that received assets from wallets associated with Remilia.

Remilia functions as a decentralized autonomous organization (DAO) responsible for curating the Milady Maker NFT collection.

Blockchain records indicate that the purported hacker has proceeded to sell multiple NFTs linked to Milady, including those staked on NFTx.

As a result of the hack, approximately $1 million worth of Ether has been transferred to another address, which presently holds nearly $1 million in Ether and various other tokens at the time of this report.

The method used for the hacking remains undisclosed.

The precise technique behind the purported hack remains uncertain. “We are still evaluating the situation; a technical post-mortem will ensue. However, the primary impact was on the Fumo LP and the NFTs we had staked in NFTX. Nevertheless, ownership of NFT contracts remains secure on hardware wallets,” Fang stated in a post on X.

Adding more complexity to the ongoing crypto saga, blockchain security firm PeckShield disclosed a previous transaction from the Remilia treasury wallet to the address implicated in the draining.

Back in September 2023, Fang took to the X social platform to announce that a developer within the Milady ecosystem had redirected approximately $1 million in fees from Remilia Corporation. Fang asserted that the attacker had gained control over three X accounts, including Miladymaker and Remilionaire, while Remiliacorp found itself locked out.

Milady, unveiled in 2021, comprises a collection of 10,000 anime profile picture NFTs crafted by Fang. The collection garnered public approval from Tesla CEO Elon Musk in May 2023 when he shared a meme featuring imagery from the Milady NFT collection. This endorsement led to a swift surge in the floor price of Milady NFTs, catapulting from 3.8 ETH to 7.8 ETH.

Victims Continue to Be Affected by Crypto Hacks

The proliferation of hacks and exploits poses an ever-growing threat to the cryptocurrency industry, particularly within the domain of decentralized finance (DeFi) applications.

As highlighted in a report by Immunefi, the staggering sum of $1.8 billion was lost to crypto hacks and scams in 2023, with a notable 17% of these losses attributed to the nefarious activities of the North Korean Lazarus Group.

Individual incidents further underscore the severity of the situation, with hacking alone accounting for over $65 million, comprising a substantial 97.54% of the stolen funds in February 2024.

Just recently, the token associated with the layer-1 blockchain Shido experienced a devastating 85% plunge in value, triggered by an exploit targeting the project’s Ethereum-based staking contract.

This exploit targeting Shido came on the heels of another distressing event, where the Serenity Shield project—a promising multi-chain data storage startup—was victimized by a theft that compromised its MetaMask wallet.

Reports indicate that in the first month of 2024, malicious actors managed to pilfer a staggering $38.9 million from various Web3 projects, further exacerbating the growing concern over cybersecurity in the crypto space.

Among the initial major crypto hacks of the year was the unfortunate incident involving Radiant Capital, which suffered a substantial $4.5 million loss due to an empty market exploit.

Shortly thereafter, Gamma Strategies, another platform in the crypto ecosystem, fell prey to a flash loan attack on January 4, adding to the string of distressing events plaguing the industry.

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