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The British Army Falls Victim to the Latest NFT Security Breach

The British Army Falls Victim to the Latest NFT Security Breach

Sunday saw the British Army become the latest victims of a crypto-related social media account hack. The perpetrators were able to cease control over its official Twitter, Facebook and YouTube accounts for almost four hours, where within such timeframe, they lured unsuspecting community members into clicking on phishing links through posing as verified NFT collections.

As screenshots of the hacker’s actions showed, they leveraged the British Ministry of Defense’s (MoD) Twitter account and its all important blue tick to pose as fraudulent derivatives of both ‘The Possessed’ and ‘BAPESCLAN NFT’ collections, with the former reportedly including a link to a fake mint site. In response, one of The Possessed’s founders took to their own Twitter to warn users not to interact with the page.

In ceasing control over the MoD’s YouTube page, the hackers turned the channel into one under the name Ark Investment, which is a Cathie Woods-founded investment firm. Here, they streamed interviews which the firm had conducted with the likes of Woods, Twitter’s Jack Dorsey, and Elon Musk, which also came with QR code links to crypto-related scams that would cease control over a person’s crypto wallet if clicked on. 

Overall, the hackers had around a four-hour window to conduct such malicious operations, with the MoD first raising its awareness of the security breach at 2:00PM, whilst declaring that it had regained control over its accounts at 5:45PM. 

For now, it remains unclear as to how much monetary damage has been caused by the exploit. Currently, there is roughly a $1 billion valuation on the amount of assets which have been stolen in crypto-related scams this year.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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