An NFT trader recently fell victim to a phishing attack, resulting in the loss of over $145,000 worth of Bored Ape Yacht Club (BAYC) collectibles. This incident sheds light on the increasing prevalence of scam schemes within the cryptocurrency space.

On May 9, PeckShield, an on-chain security platform, highlighted the unauthorized transfers of three BAYC NFTs – BAYC 7531, BAYC 6736, and BAYC 2100 – from the trader’s account tatis.eth to a phishing address. The perpetrator, known as Pink Drainer, swiftly sold the stolen BAYCs for a total of approximately 48.5 ETH, equivalent to $145,000, on NFT marketplaces Seaport and Blur.

This unfortunate event is not an isolated case. In December 2023, Pink Drainer and their group reportedly stole $4.4 million worth of Chainlink (LINK) tokens through deceptive tactics. By manipulating users into authorizing transactions associated with the “IncreaseAllowance” function, the hackers managed to siphon off 275,700 LINK tokens.

These incidents underscore the importance of vigilance and security measures when engaging in the cryptocurrency space. In recent months, nefarious activities have targeted various projects and protocols. Last year, JPEG’d and Flooring Protocol both faced similar attacks, with hackers exploiting vulnerabilities in their systems to steal NFTs and digital assets.

As the cryptocurrency landscape continues to evolve, it is crucial for investors and traders to stay informed and take necessary precautions to safeguard their holdings from such malicious actors. Stay updated on the latest developments and security practices to protect your assets in this dynamic environment.

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