#CommunityAlert 🚨
At 12:13:14 PM UTC, an attacker claimed a large amount of #APECOIN in the airdrop event by flashloan using $BYAC tokens to redeem for #BAYC NFTs.
The total profit of the attack is around ~ $820K (293 #ETH)
At 12:13:14 PM UTC, an attacker claimed a large amount of #APECOIN in the airdrop event by flashloan using $BYAC tokens to redeem for #BAYC NFTs.
The total profit of the attack is around ~ $820K (293 #ETH)
Incident Analysis
1. The attacker bought NFT No.1060 from OpenSea, which was later used as the flash loan fee to flash loan 5.2 BAYC tokens from the "NFTX Vault"
2. Then used the BAYC tokens borrowed in step 1 to redeem BAYC NFTs (NFT token ID: 7594, 8214, 9915, 8167, 4755)
1. The attacker bought NFT No.1060 from OpenSea, which was later used as the flash loan fee to flash loan 5.2 BAYC tokens from the "NFTX Vault"
2. Then used the BAYC tokens borrowed in step 1 to redeem BAYC NFTs (NFT token ID: 7594, 8214, 9915, 8167, 4755)
3. Then claimed 60,564 ApeCoin tokens as a reward in the Airdrop contract and sold the majority of $APE on the market to #ETH.
4. Minted BAYC NFTs to BAYC tokens to pay back the flash loan and fees.
4. Minted BAYC NFTs to BAYC tokens to pay back the flash loan and fees.
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