Early on Thursday morning, Sandbox experienced a security breach when its Instagram account, followed by 184,000 users, was hacked.
The company addressed the incident in a blog post, detailing that hackers had gained access to the official account of the Metaverse platform and posted a phishing link.
The exact method the hackers used to gain control of the account remains unknown. Upon discovering the breach, Sandbox promptly disabled the account to prevent further issues. As of today, the account has been reactivated and restored.
Sandbox Reactivated Its Social Media Account!
Sandbox recently disclosed that their Instagram account hack resulted in only one user being defrauded. The company has collaborated with the affected investor to resolve the situation.
In a statement, Sandbox emphasized the importance of their community’s trust and informed that steps are being taken to enhance the security of their social accounts.
They are currently reviewing their security logs and internal processes to ensure comprehensive safety across all platforms.
Post-hack investigations revealed that the hacker’s wallet received four NFTs transferred from two different wallets, including a World of Women Galaxy NFT.
The incident highlights the increasing frequency of NFT phishing scams on social media. In April, a similar incident occurred when BAYC’s official Instagram account was hacked, leading to the theft of NFTs worth $2.8 million.
Hackers often target NFT owners via social media, offering special deals. Once a price is agreed upon, they trick NFT holders into connecting their wallets to a fraudulent trading site, which is later compromised.
A notable instance of this method occurred in May, when 29 Moonbird NFTs valued at $1.5 million were stolen.
In response to these security challenges, the company stated, “This event is a reminder that we must always remain vigilant.
Despite the relentless attempts of hackers and phishers to test our defenses, we are committed to working even harder to ensure the safety of both your and our accounts.”
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