A hot wallet belonging to Arthur Cheong “Arthur_0x” recently got hacked, which led to a loss of more than $1.5 million.
The founder of Defiance Capital, a DeFi venture fund, recently confirmed the theft of his digital assets via his Twitter page. Arthur Cheong, alias Arthur 0x, is the most recent high-ranking crypto leader to have his NFTs hacked. He was the victim of a hot wallet hack, losing both NFTs and crypto worth about $1.6 million.
Arthur lost over 70 different NFTs, the vast majority of which were "SecondSelf NFTs." Additionally, he lost some Ether, DYDX, and LooksRare tokens.
Cointelegraph reported that the hacker listed the NFTs for sale on the OpenSea marketplace at about 12:30 a.m. UTC. The hacker's wallet held 545 ETH worth $1.6 million as of yesterday.
Remarkably, the crypto community has shown their support by blacklisting the hacker’s wallet address. Also, some users went as far as buying the stolen NFTs and returning them to Arthur at cost price. Although Arthur was appreciative for their aid, he requested that they keep it until he resolved his situation.
Furthermore, Arthur stated that he has been extremely cautious and only used cold wallets until he began trading NFTs frequently.
Subsequently, Arthur discovered that the hack was the result of a "targeted social engineering attack." He went on to say that he received a spear-phishing email impersonating one of his portfolio companies.
The cryptocurrency market is not new to hacks, phishing, and the likes. Even earlier this month, members of the Rare Bears NFT community lost assets to the tune of $790,000 due to a phishing attack. Surprisingly, this occurred when an intruder shared a phishing link on the Discord group intended to steal people's money.