Milady Founder Reports Hacker Attack, Over $3 Million Losses in ETH and NFTs

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The wonderful (but shocking) world of crypto promises to keep delivering new twists! Krishna Okhandiar, the brain behind Remilia and the Milady NFT collection, shocked the crypto world with a bombshell on Twitter, alleging a massive hack. Over $3 million worth of crypto, snugly tucked away in NFT assets within the Remilia and Milady treasury, mysteriously vanished.

What’s going on? Here are the details.

A Shocking Hack

Krishna Okhandiar, also known as Charlotte Fang, pointed fingers at hackers who allegedly breached his digital wallet, sparking unauthorized selling and trading of several prized NFTs linked to Milady.

My system was hacked and it compromised all imported wallets. If you receive an odd message from any of my accounts, treat with caution. Still assessing, technical post-mortem will follow, but primary damage was the Fumo LP and the NFTs we held staked in NFTX, however NFT… https://t.co/K6w1CBTdFb

— ♡ Charlotte Fang Crown Prince ❀ LOVE HEALS (@CharlotteFang77) March 16, 2024

Adding to the intrigue, Dumpster DAO unearthed peculiar transactions draining Remilia’s funds, casting doubt over Okhandiar’s claims. Chain analysis traced the siphoned assets to a notorious wallet, where they were swiftly liquidated, fetching a jaw-dropping sum of 850 ETH, equivalent to a staggering $3 million at current market rates.

Also Read: Crypto Hacks of the Week: Breaches, Scams, and Rug Pulls Rock the Market

Who’s the Culprit?

Okhandiar blamed an insidious malware that breached his system, pilfering stored seed phrases from his password manager. These phrases were the golden keys to unlock not only his multi-sig wallet housing Remilia’s wealth but also several other personal wallets.

Milady, a groundbreaking NFT venture boasting 10,000 Ethereum-based tokens, each a masterpiece of anime artistry, soared to prominence, especially after a nod from Elon Musk in May 2023. However, it’s Remilia that reigns supreme, wielding dominion over the Milady crypto domain.

Community Stands Unconvinced

Despite Okhandiar’s narrative, skeptics within the crypto enclave remain unconvinced. A meticulous post-mortem dissected the hack’s modus operandi, shedding light on how the cyber marauders orchestrated their heist in two cunning waves.

Storing sensitive keys and phrases in an online password vault was akin to waving a red flag in front of crypto bulls, a glaring invitation to plunder.

Read More: This Week in Crypto: Top Blockchain Performers, Market Analysis & NFT Trends

Urgent Call for Security

This incident underscores the urgent need for crypto platforms to fortify their digital defenses, enhancing security measures to safeguard user assets. The ball now rests in the court of Remilia’s custodians as they ponder their next move to recoup the staggering losses.

Will Remilia and Milady emerge stronger from this ordeal? Only time will tell.