Attack on TreasureDAO
The crypto community recently started to doubt the capability of TreasureDAO when its official trading market and Bridgeworld games got suspended abruptly.John Patten, the co-founder of the TreasureDAO, confirmed the attack through a tweet posted on March 3, around 1:00 am UTC.
Treasure recently advised its users to delist "everything" through its Discord server by adding that the marketplace has been paused. The team further later informed that it had identified the issue.
After the announcement, the panicked users shifted to social media to display red flags. While there has been no official statement on the extent of the exploit, a Twitter sleuth indicated a suspicious address that might be associated with the hacker.
The address has acquired multiple Smol Brains — among the most popular NFTs traded on Arbitrum. The total estimated value of the stolen NFTs is around 426,511.38 in MAGIC — Treasure's native token. The attacker managed to get them all without paying any amount.
Consequences
As soon as the hack occurred, the price of MAGIC went down from $3.8 to $2.6, as per the data. The price, however recovered in several hours and is currently trading at $3.27, down by 13.8%.Blockchain and security data analytics company PeckShield Inc. reveals that more than 100 NFTs have been stolen till now, from different collections on Treasure marketplace.
Before this, the Twitter sleuth zachxbt raised the questions on the TreasureDAO by publishing a long thread about the project's frontend engineer Just cheese (JC) and his past history with several NFT projects.
Recently, the NFT marketplace OpenSea was hacked for NFTs worth $200 million, but the platform claims that it was actually not a hack, and victims fell to a phishing scam.
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