Recently, there has been a trend of cyberattacks or NFT hack threats from the dark web that are targeting NFT holders in the global marketplace. Yuga Labs has warned the entire NFT marketplace to beware of the persistent cyberattacks group that has started coordinating NFT hack threats through social media accounts and instigating NFT holders. Meanwhile, ApeCoin has been experiencing an increase in its price despite the multiple NFT hack threats. The APE token is stealing the thunder in the marketplace with an increase of around 36% over the last week.
ApeCoin showing who’s the boss
ApeCoin is known as the decentralized ecosystem as a part of the BAYC (Bored Ape Yacht Club) project. APE was launched to maintain an ecosystem inclusively for providing NFT holders to collaborate with permissionless governance processes. The NFT also helps to vote on ApeCoin DAO governance proposals. ApeCoin is an ERC-20 governance and utility token to empower the decentralized community at the forefront of Web 3.0. APE serves multiple purposes as the open-source protocol layer such as governance, unification of spend, access, incentivization, and many more. The total supply of ApeCoin in the NFT marketplace is fixed at one billion tokens without any minting capability.
The life of Ape amidst NFT hack threats
Though there has been a lack of interest as well as suffering a 7% correction, ApeCoin is trying its best to live life in the NFT marketplace despite facing warnings of NFT hack threats. This warning of NFT hack threats was announced after two official Discord groups, that are linked to BAYC and OtherSide NFTs, were compromised. It enables the group of cyberattackers to share multiple phishing links for successful cyberattacks.
There is another case— Premint Ecosystem has lost around US$375k from 314 NFT wallets after the cyberattacks.