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Yuga Labs co-founder pre-warns users of a possible future attack

Yuga Labs Investigated
Yuga Labs Investigated

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The co-founder of Yuga Labs, Gordon Goner, has warned of a possible attack on the social media accounts harboring the company’s projects. The pseudonymous co-founder also said that he possessed “credible information” that a Twitter insider was involved in, which would facilitate bypassing the security of these accounts.

Yuga Labs co-founder warns of possible attack

Yuga Labs is popular because of the Bored Ape Yacht Club (BAYC) NFT project. BAYC is one of the most successful non-fungible token (NFT) releases. Yuga Labs also recently unveiled ApeCoin and the Otherside metaverse project.

The company has already reached out to Twitter after receiving details of a possible attack planned on the company’s social media accounts. In the warning, Goner stressed that the company would never have any “surprise mints.” This is a popular technique used by attackers to lure victims.

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After Goner’s warning, Twitter began actively monitoring the company’s social media accounts. The existing security frameworks of the accounts have also been enhanced to ensure any breach does not happen.

Yuga Labs’ NFT drop was very successful. The growing demand for these NFTs triggered the rise in Ape-themed scams. One of the most recent attacks happened on June 5. During this breach, the attackers accessed the Discord groups of BAYC and Otherside, and they managed to steal more than 145 Ether tokens.

At the time, the Yuga Labs team argued that Discord failed to have security measures that could prevent such attacks. However, the community disagreed, arguing that Yuga Labs should teach its users how they can protect themselves from these breaches.

Attacks in the crypto sector

The cryptocurrency sector has been under intense pressure from attacks over the past two years. Besides the June 5 breach on Yuga Labs’ Discord groups, Optimism, a layer two protocol on the Ethereum network, also suffered a breach.

Following this breach, Optimism lost 20 million OP tokens. The loss was suffered after the protocol suffered an exploit on its market maker’s smart contract. Out of the stolen funds, one million OP tokens valued at around $1.3 million were sold off.

Another one million tokens were transferred to the Ethereum address of Ethereum’s co-founder, Vitalik Buterin. The remaining 18 million tokens have not been touched, but they can be dumped in the market or used to affect the protocol’s governance issues.

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