July 21, 2024
Milady Maker NFT Project
Latest Cryptocurrency News

Milady Maker NFT Project Faces Major Security Breach Involving $1 Million

The Milady Maker, an Ethereum blockchain-based nonfungible token (NFT) project, has experienced a significant security breach involving the platform’s fees and social media accounts. Charlotte Fang, one of the co-founders of the Milady Maker NFT collection, made an announcement on X (formerly Twitter) on September 11th, revealing that a developer within the Milady ecosystem successfully diverted approximately $1 million in generated fees from Remilia Corporation.

Remilia Corporation is a decentralized autonomous organization (DAO) responsible for the Milady Maker NFT project. Fang disclosed that the DAO’s revenue was compromised due to an incident involving Bonkler, an experimental finance art project created in April 2023. Fang clarified that the Bonkler reserves, main contract, and NFTs are safe; only Remilia’s revenue from Bonkler was compromised. She reassured users that Remilia’s reserves remained unaffected and user assets were completely secure.

Additionally, the attacker managed to take control of codebases and coordinated with other team members in an attempt to gain control of Remilia’s social media presence.

Fang stated that the attacker had successfully seized three X accounts, including Miladymaker and Remilionaire, while Remiliacorp was locked out. She advised treating these three compromised accounts with caution and provided new official accounts, namely RemiliaCorp333, MiladyMaker333, and RemilioBaby. Fang also noted that Remilia had identified the individuals responsible for the exploit and expressed a willingness to pursue legal action, saying, “We expect all our property to be returned,” she stated, adding, “For such viciousness, I can give no quarter—the individuals involved have been terminated from Remilia Corporation and will now be dealt with through the heavy hand of the law.”

Milady, a collection of 10,000 anime profile picture NFTs designed by Fang, was launched in 2021. In May 2023, Tesla CEO Elon Musk publicly endorsed Milady NFTs by posting a meme that featured imagery from the collection. This endorsement led to a rapid increase in the floor price of Milady NFTs, which rose from 3.8 ETH to 7.8 ETH. As of now, the floor price of a Milady NFT stands at 2.86 ETH, reflecting a decrease of approximately 15% over the past 24 hours, according to data from OpenSea.

Image by pixabay

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