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Crypto Drama: Remilia Founder Claims Hacking Amid Ether and NFT Transfers

Ruholamin Haqshanas
Last updated: | 2 min read
Crypto Drama: Remilia Founder Claims Hacking Amid Ether and NFT Transfers

In a new wave of crypto drama, Remilia’s founder has ostensibly fallen victim to a hacking incident involving the unauthorized transfer of substantial amounts of Ether and non-fungible tokens (NFTs).

The incident came to light when Dumpster DAO on X shared a screenshot of Krishna Okhandiar, also known as Charlotte Fang, stating, “I got drained,” accompanied by a link to an address that received assets from wallets associated with Remilia.

Remilia is a decentralized autonomous organization (DAO) responsible for the Milady Maker NFT collection. 

Blockchain records reveal that the hacker in question has sold multiple Milady-linked NFTs, including those staked on NFTx. 

The hack has also resulted in $1 million worth of Ether transferred to another address, currently holding nearly $1 million in Ether and various other tokens at the time of reporting.

Hacking Method Remains Unkown

The exact method of the alleged hack remains unclear.

“Still assessing, technical post-mortem will follow, but primary damage was the Fumo LP and the NFTs we held staked in NFTX, however NFT contract ownerships remain secure on hardware wallets,” Fang said in a post on X. 

Meanwhile, adding fuel to the crypto drama fire, blockchain security firm PeckShield revealed that there was a prior transaction from the Remilia treasury wallet to the address implicated in the draining.

In September 2023, Fang made an announcement on the X social platform, revealing that a developer within the Milady ecosystem had diverted approximately $1 million in fees from Remilia Corporation. 

Fang claimed that the attacker had gained control over three X accounts, including Miladymaker and Remilionaire, while Remiliacorp was locked out.

Milady, launched in 2021, is a collection of 10,000 anime profile picture NFTs designed by Fang. 

The collection received public endorsement from Tesla CEO Elon Musk in May 2023 when he shared a meme featuring imagery from the Milady NFT collection. 

This endorsement caused a rapid surge in the floor price of Milady NFTs, which jumped from 3.8 ETH to 7.8 ETH.

Crypto Hacks Continue to Take Victims

Hacks and exploits have become a mounting concern in the crypto industry, particularly within the realm of decentralized finance (DeFi) applications. 

According to a report by Immunefi, a total of $1.8 billion was lost to crypto hacks and scams in 2023, with 17% of the losses attributed to the North Korean Lazarus Group. 

In individual incidents, hacking accounted for over $65 million (97.54%) of the stolen funds in February 2024.

Last month, the token for the layer-1 blockchain Shido plunged 85% after the project’s Ethereum-based staking contract fell victim to an exploit.

The exploit targeting Shido came just one day after Serenity Shield project, a multi-chain data storage startup, fell victim to a theft that compromised its MetaMask wallet.

As reported, bad actors have stolen $38.9 million from various Web3 projects in the first month of 2024.

One of the first major crypto hacks of the year occurred when Radiant Capital experienced a $4.5 million loss due to an empty market exploit.

Gamma Strategies, another affected platform, fell victim to a flash loan attack on January 4, shortly after the Radiant Capital incident.