Many find crypto space to be a no-go zone when they hear stories of experienced NFT collectors and Web3 creators falling victim to attacks that often claim amateur traders. A recent attack incident involves Kevin Rose, founder of Proof, a Web3 startup behind the famous NFT project called Moonbirds.
Rose’s Ethereum wallet (Krovault.eth) was hacked on Wednesday, and over 40 NFTs were stolen. Some of his stolen NFTs include 25 Art Blocks’ Chromie Squiggles and one expensive Larva Labs Autoglyphs NFT. Rose confirmed the exploit on his Twitter account.
According to Public wallet data on NFT marketplace OpenSea, soon after the exploit stopped, Rose started transferring the remaining NFTs, including Cryptopunks and NFTs by renowned digital artist XCOPY, from his Krovault.eth wallet to another wallet.
OpenSea managed to flag the stolen assets, which means they can no longer be sold on that marketplace. However, the attacker can still transfer them to other NFT marketplaces. Based on the current price of these stolen NFTs, it is estimated that the hacker may have made away with more than $1 million.
Data on CryptoSlam shows that Each Chromie Squiggle currently costs 13.4 ETH or $20,815. Rose reported that he lost 25 of them, meaning the hacker left him $520,300 short. Elsewhere, the current floor price of Autoglyph on OpenSea is about 316 ETH or $492,000. Rose lost one.
How the Hacker Accessed Kevin Rose’s Wallet
The Proof Founder’s Krovault.eth wallet is meant to be his vault for securing all his valuable assets, just like the hardware wallet. Arran Sclosberg, Proof’s Head of Engineering, says Rose fell victim to the exploit when he connected the wallet to the OpenSea marketplace.
Schlosberg explained that the Proof founder was tricked into signing a malicious signature, allowing the attacker access to his assets. He added that the firm’s assets were unaffected; however, they were working with anti-fraud teams from Hardware wallet Ledger and OpenSea to recover the NFTs.
Blockchain Analyst Connects Rose’s Hacker to Another Exploit
Meanwhile, ZachXBT, a blockchain analyst, tweeted that the wallet that exploited Rose’s NFT collection had earlier stolen about 75 ETH or $122,000 from another victim. ZachXBT wrote that the hacker converted the ETH into BTC and then transferred it to a coin mixer to obscure the funds’ movements.
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