CityDAO, the altcoin project offering decentralized land ownership experiment, fell victim to a $95,000 hack by scammers on gaming instant messaging site Discord. For details cryptocoin.com keep reading.
How was the altcoin project hacked?
According to the group’s Twitter account, an attacker hacked one of the project’s administrator accounts on Discord. CityDAO warned in a tweet on Monday:
Emergency Notification. A CityDAO Discord admin account has been hacked. There is no land condition. Do not link your wallet.
CityDAO’s founders bought 40 acres of land in Wyoming in November with the aim of building a ‘Blockchain city’. The aim of the project is to build a city with decentralized governance where ‘citizens’ buy land in the form of Non Fungible Tokens (NFTs). CityDAO uses Discord to send alerts known as ‘land drops’ when there are opportunities to purchase said NFTs.
The attacker posted a fake ‘land drop’ from the administrator’s compromised account, pocketing 29.67 ETH ($95,000) in the process. The affected manager, Lyons800, later tweeted that the attack was “a ridiculous security breach from Discord.”
This marks a second major hack via Discord in less than a month. On December 21, Justin Kan’s NFT platform, Fractal, suffered a breach where someone hacked the project’s account for giving a fake link to users promoting a new NFT and smuggled away with nearly $150,000.
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