Krishna Okhandiar, the founder of Remilia and Milady, widely recognized under the pseudonym Charlotte Fang, is reportedly claiming to be hacked following the transfer of significant amounts of Ether and NFTs to a wallet engaged in asset liquidation.
The incident was initially brought to attention by Dumpster DAO, an X user, who shared an apparent screenshot of Okhandiar stating he was “drained,” along with a link to an address that received assets from wallets associated with Remilia.
Remilia is the decentralized autonomous organization (DAO) behind Milady Maker NFT. The DAO saw its revenue compromised by Bonkler, its experimental finance art project created in April 2023, according to an announcement by Fang.
Blockchain records indicate that the said address has sold numerous NFTs linked to Milady, including NFTx staked ones, and has transferred $1 million worth of Ether to another address. At present, the address retains nearly $1 million in Ether and various other tokens as of the time of writing this article.
Although the precise method of the purported hack is unclear, blockchain security company Peckshield pointed out a prior transaction from the Remilia treasury wallet to the wallet implicated in the draining, as detailed in a post on X.
Related: Mozaic Finance hacked for $2.4M via private key compromise
In September 2023, Charlotte Fang took to X social platform (formerly Twitter) to announce that a developer in the Milady ecosystem has managed to divert about $1 million in generated fees from Remilia Corporation. According to Fang, the attacker had managed to take over three X accounts, including Miladymaker and Remilionaire, while Remiliacorp was locked out.
Launched in 2021, Milady is a collection of 10,000 anime profile picture NFTs designed by Fang. In May 2023, Milady NFTs were publicly endorsed by Tesla CEO Elon Musk, who posted a meme using imagery from the Milady NFT collection. The move triggered a rapid spike in the floor price of a Milady NFT, which subsequently surged from 3.8 Ether (ETH) to 7.8 ETH.
Hacks and exploits have been a growing concern in the crypto industry, especially for DeFi applications. A total of $1.8 billion was lost to crypto hacks and scammers in 2023, of which 17% can be attributed to the North Korean Lazarus Group, according to a Dec. 28 report by Immunefi. Within ten individual incidents, hacking accounted for over $65 million (97.54%) of the stolen funds in February 2024.
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