03-18-2022 icon

Rare Bears’ Discord Server Hacked, Spoofers Loots Over $800k in Tokens

By Lucy Adegbe
Rear bears

Rare Bears, on Thursday,  took to its Twitter social media platform to affirm the news of its recently compromised moderator’s server that led to a phishing fraud of about $800k worth of NFTs. 

According to reports, cyberpunks sent across a spoofing link on the Rare Bear Discord platform, draining a lot of their users’ non-fungible token wallets.

Blockchain privacy and vulnerability analyst, Peckshield, further explained that these fraudsters were able to access up to 179 NFTs from various compilations. Among these were Satoshi’s Azuki, CloneX as well as the 6 LAND non-fungible tokens utilized by Sandbox.

Most of the hijacked NFTs had already been proposed for sale, hence granting the spoofers up to 286 ETH which amounts to 795,500 in dollars. Furthermore, they deemed it fit to obfuscate the ETH blockchain virtual cash trail of some funds.

A staff of the Rare Bears company updated that the cracker gained access through one of their moderators called ” Zhodan”, forwarding a report on new NFTs going down on their channel. The hacker was able to lock out some members, denying them access to regulate the server which created difficulty in deleting their fraudulent link. There was an inclusion of a bot to shut the various channels on the server and there wasn’t any way to alert the public of the scam.

Rare Bears gave more information on its official Twitter account, stating that all management positions have been regained and all possessions have been transferred to a safe account. Rare Bears have also teamed up with security expert, Pandez, to aid top-notch maintenance. 

While this isn’t the first spoofing fraud that has occurred recently on Discord, Pandez advised users to look out for certain hitches before clicking a link.