hijacking – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 31 Jul 2025 12:05:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 hijacking – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 NFT Scammer Jailed After Hijacking X Accounts for $794,000 Theft https://earlybirdsinvest.com/nft-scammer-jailed-after-hijacking-x-accounts-for-794000-theft/ https://earlybirdsinvest.com/nft-scammer-jailed-after-hijacking-x-accounts-for-794000-theft/#respond Thu, 31 Jul 2025 12:05:53 +0000 https://earlybirdsinvest.com/nft-scammer-jailed-after-hijacking-x-accounts-for-794000-theft/

Cameron Albert Redman, a 22-year-old from Canada, has been sentenced to a year in US federal prison for helping run a scam that stole cryptocurrency and non-fungible tokens (NFTs) by hacking X accounts.

In 2022, Redman and his partners gained access to the X accounts of digital creators and brands, then used those accounts to post links to fake websites.

These websites appeared to be from real artists or companies and promised followers free NFT giveaways.

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People who clicked the links were asked to approve a transaction they thought would deliver digital collectibles to their wallets. Instead, it gave Redman’s group permission to take control of the wallets.

The scammers took both cryptocurrencies and NFTs and sold the assets. US officials stated that over 200 people were tricked, and the group made about $794,000 in a short period of time.

Some of the hacked accounts belonged to public figures and projects like Beeple, Gary Vaynerchuk, the Nouns community, and luxury brand Louis Vuitton.

According to court filings, Redman had already served time in Canada as a teenager for a large SIM-swap theft, which led to more than $40 million in stolen crypto. Authorities described Redman as someone who planned and carried out his actions from his father’s basement.

The charges in this latest case include conspiracy to commit wire fraud, wire fraud, and conspiracy to commit identity theft.

On July 29, Rowland Marcus Andrade, creator of AML Bitcoin, was sentenced to seven years in prison. What caused the sentencing? Read the full story.

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]]> https://earlybirdsinvest.com/nft-scammer-jailed-after-hijacking-x-accounts-for-794000-theft/feed/ 0 50672 Adjusted contract hijacking emits $1 million from Pepe NFT project https://earlybirdsinvest.com/adjusted-contract-hijacking-emits-1-million-from-pepe-nft-project/ https://earlybirdsinvest.com/adjusted-contract-hijacking-emits-1-million-from-pepe-nft-project/#respond Sun, 29 Jun 2025 01:53:34 +0000 https://earlybirdsinvest.com/adjusted-contract-hijacking-emits-1-million-from-pepe-nft-project/

A set of NFT collections tied to Matt Furie, creators of Pepe Meme and creators of Chainsaw Studio strike By a series of contract hijacking That was connected Stolen over $1 million. The attackers controlled the mint contract, reduced revenue, issued new tokens, wiped out value, and surprised collectors. Many fans were shocked to see Pepe Creator’s NFT project targeted by attackers with deep access to the mint function.

Theft was not a one-off hit. It is developed in stages across multiple days and collections, suggesting a deeper understanding of how careful planning and projects are structured. The fact that the attackers gained control from within the contract level has sparked serious concerns across the NFT community.

How the attack unfolded

It began early on June 18th when the Replicandy Mint contract, part of the chainsaw ecosystem, was taken over. Ownership was quietly transferred to the new address. It gave the attacker complete control. They empty the Mint Fund, resumed the contract and created a new token. These were pushed out quickly and flooded the market crash price.

A few days later, the same playbook was used in the other three chainsaw connection collections: Pepplicator, Hetz, and Zoag. The total emissions at that time were estimated to be above $300,000, but the pursuit showed that it did not stop. The attackers moved the stolen funds to various wallets and cashed out via MEXC exchanges.

On-chain researchers, including ZachxBT, tied the activity to wallets that interacted with previous contract exploits. Their analysis Showed The process wasn’t like that just It’s opportunistic but systematic.

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There is doubt about freelance code employment

Things changed even further when investigators discovered a GitHub profile that appears to be based in the US but was linked to a developer who used tools and settings related to North Korea. VPN data and local preferences raised the red flag. The doubt is that some of the contract access may have come From developers hired through open platforms, full Review process.

Pepe Creator's NFT project hit a major contract hack
Source: Zachxbt on X.com

Another similar incident, a new NFT project called Favrr lost $680,000 under nearly identical conditions. Their CTO disappeared, and the funds from the attack followed the same washing patterns. This encourages concern as people believe that multiple projects may have been compromised through the same outsourcing channel.

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Aftermath and silence

The FAVRR team has announced that it will refund users and conduct a full review of the contract architecture. Chainsaw and Matt Furie take a different approach. They shut down public chat channel, contact form deleted, left collector deleted If anything, what should you guess? Intention I’ll do it.

24 hours7d30D1Yeverytime

Floor prices for the affected collections have collapsed. Some owners want a recovery plan, while others have begun to amortize tokens as a complete loss.

What you’re talking about NFT security

This incident highlights a bigger problem in the NFT space. Too many projects Depend About external developers right Security check. Mint Contracts are a powerful tool. Once someone accesses, they can change rules, unlock funds, and create or destroy value in a few minutes.

Now, collectors are asking more questions before diving into the new drop. Who manages the contract? How is the code reviewed? what Kindness Security teeth In place?

Without a clear answer, this may not be the last time the entire community will see its assets disappear overnight.

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Key takeout

  • The hackers stole over $1 million from the Pepe NFT project by hijacking smart contracts tied to Chainsaw Studio and Matt Furie.

  • The attack created multiple collections, drainage funds and new tokens, crashing floor prices across projects like Pepplicators and Hets.

  • Evidence suggests that the violations were brought through freelance developers, with suspicious ties with North Korea and poor internal security practices.

  • The associated exploits followed the same laundry path, sparking a fear of wider vulnerability, and were hit with the Favrr NFT project for $680,000.

  • This highlights the increased risk of the NFT space. The project team will allow the project team to access Mint level permissions without adequate protection.

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    Anthony Clark

    Cryptowriter

    Anthony Clark’s crypto journey began in 2017 and was triggered by the discovery of Quora. After purchasing Bitcoin and Verge as his first cryptocurrency, he became deeply interested in the emerging world of blockchain technology. This made him start writing…Read more

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