Hong Kong NFT project Monkey Kingdom loses US$1.3 million in hack

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Q4 2021 Launch Monkey Kingdom

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The world of Web3 moves at lighting pace. Few outside the tech world knew what an NFT was last year, and even fewer could have predicted the meteoric rise of the Monkey Kingdom NFT project that launched last November.

A collection of 2,222 randomly generated 32×32 pixel NFTs, Monkey Kingdom has captured the hearts of many Asians, taking inspiration from the mythical creature Sun Wukong, also known as Monkey King, based on the 16th-century Chinese novel Journey to the West by Wu Cheng’en.

When Monkey Kingdom’s first collection was released on November 27, it sold out in less than two minutes and garnered mainstream success days after mint. In December, the project sold an NFT for a record 660 Solana (US$148,000) and, in March 2022, it became the first Asian NFT project to be auctioned by Sotheby’s, cementing its right to be considered alongside more traditional contemporary art.

Wong, who has chosen to stay anonymous until now, is still wrapping her head around the popularity of the project, which has gained support from celebrities like DJ Steve Aoki, Brooklyn Beckham, Taiwanese singer-songwriter Eric Chou, members of the Hong Kong boyband Mirror and marketing veteran Federico Tan. “I wanted the project to be about Monkey Kingdom, the art and the community—not me. Now the project has matured a lot, so I felt it was the right time to come out,” she says.

Злоумышленники взломали Discord-аккаунт администратора NFT-проекта Monkey Kingdom и разместили фишинговую ссылку в групповом чате перед стартом продаж. Пользователи потеряли 7056 SOL (около $1,3 млн).

Представители Monkey Kingdom рассказали, что взлом произошел из-за недостатков системы безопасности Grape — решения для идентификации пользователей на Solana, которое используют большинство NFT-проектов.

Они также пообещали компенсировать украденные средства и попросили рассказать сообществу о получении возмещения.

Запущенный 27 ноября азиатский проект Monkey Kingdom содержит 2222 NFT в виде пиксельных обезьян в разных нарядах.

Ранее с похожим взломом столкнулась NFT-платформа Fractal. Злоумышленники тоже опубликовали в ее Discord-канале фишинговую ссылку.

Пользователи потеряли около 800 SOL (почти $150 000). Проект пообещал возместить украденные средства.

Делитесь вашим мнением об этой новости в комментариях ниже.

По словам его разработчиков, взлом впервые произошел с атакой на Grape, популярное решение для проверки пользователей на Solana. Затем хакеры запустили эксплойт, чтобы захватить административную учетную запись, которая разместила фишинговую ссылку на канале объявлений Monkey Kingdom Discord. Пользователи, перейдя по ссылке, подключили свои кошельки, ожидая, что они получат NFT, но вместо этого мошенник истощитил свои токены SOL.

К сожалению, взлом произошел, когда пользователи выстраивались в очередь для второго дропа проекта. Monkey Kingdom состоит из 2222 алгоритмически сгенерированных NFT, сосредоточенных вокруг Сунь Укуна, иначе известных в китайском фольклоре как «Король обезьян». Все доходы от первоначальной продажи NFT должны были пойти на благотворительную организацию по выбору с целью поддержки азиатских сообществ по всему миру. Это был один из самых успешных проектов NFT, возникших в Азии.

Фишинговые атаки не являются чем-то новым для криптоиндустрии. В течение последнего года мошенники неоднократно нацеливались на пользователей Discord и использовали саму платформу для организации таких взломов NFT.

Floor

Monkey Kingdom #23

Orderbook

If you’ve either been living under a rock for the last two months or had your head buried underground, then you may have missed the launch and explosion of Hong Kong’s latest and largest NFT venture, the Monkey Kingdom, which has shaken the online marketplace for NFTs in the city.

The Monkey Kingdom NFT project launched on Nov. 27, 2021, where 2,222 of the Wukong-inspired ape NFTs were rolled out to the community. Every single NFT image was sold out in two minutes of the online launch.

It has quickly ballooned into becoming Hong Kong’s largest NFT release, entering a market primed for a continued push in the digital currency and NFT industry.

Hong Kong celebrities, businessmen, actors, and influencers have all bought into the Monkey NFT craze, including DJ Steve Aoki, JJ Lin, actor Sunny Wang, Ian Chan from local boyband Mirror, and musician Dizzy Dizzo.

Monkey Kingdom’s underlying mission is not just to foster inclusivity within the global NFT community, but to provide a platform to amplify Asian voices and experiences worldwide within the Web 3.0 ecosystem.

Compared with the likes of Bored Ape Yacht Club and Cryptopunks, the collective behind the Monkey Kingdom is passionate about giving a voice to Asian creators and speakers.

Monkey Kingdom is represented by Sun Wukong, the Monkey King, one of the “most iconic figures in Chinese mythology, wise, optimistic, and young.” A legendary mythical figure known from the 16th-century Chinese novel “Journey to the West,” he is a creature capable of amazing strength and mass destruction.

As the story goes, after being imprisoned by the Buddha under a mountain for 500 years, Wukong escaped and wreaked havoc in Heaven to take revenge. With his many supernatural abilities, he permanently transformed into 2,222 unique versions of himself to fight and destroy.

As the creators of Monkey Kingdom state, “The Buddha is an almighty God and also a crypto whale who invested in Solana when it was US$1.”

The Monkey Kingdom, the prison of trapped Wukongs, holds all 2,222 unique pixelated NFTs, each coming with different traits and attributes varying in rarity.

By Dec. 15, the average sale price of a Monkey King NFT reached 75.74 SOL (HK$ 94,816). The total volume of all NFTs sold and traded on the marketplace reached 45,420 SOL, or about HK$56,859,780.

The highest- listed Monkey Kingdom NFT is #2113, a Monkey King with a golden halo and wings, wearing white framed sunglasses, and sipping on a cool blue soda in front of a bright pink background. The current price for the NFT is 15,000 SOL, or a cool HK$19.4 million.

NFTs can be powered with Solana, allowing artists and digital groups to sell them to customers in a secure and easy manner.

On Dec. 21, the team behind Monkey Kingdom will be launching Baepes, a collection of 2,221 female Wukongs, with proceeds from the sale of the NFTs going to charity.

To celebrate their renowned success of the project, Monkey Kingdom will be partnering with DJ Steve Aoki to host their digital official Monkey Kingdom Christmas party on Dec. 23rd, on the digital metaverse platform, Cryptovoxels.

World-renowned and Grammy-nominated DJ Steve Aoki will be spinning tracks for 60 minutes from 11 PM, whilst Taiwanese artist Dizzy Dizzo will be opening the show with a special performance.

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Hot Hong Kong NFT project Monkey Kingdom loses US$1.3 million in hack, exposing security concerns

Popular non-fungible token (NFT) project Monkey Kingdom, founded by entrepreneurs in Hong Kong and promoted by celebrities such as JJ Lin and Steve Aoki, had its group chat hacked on Tuesday, allowing a cyber thief to steal nearly US$1.3 million worth of cryptocurrencies with a phishing link.

This is the latest in a series of scams seen in the NFT space in recent months as the popularity around NFT reaches fever pitch. Sales volume of NFTs surged to US$10.7 billion in the third quarter of 2021, up more than eightfold from the previous quarter, according to data from market tracker DappRadar.

Launched on November 27, Monkey Kingdom, which comprises 2,222 digital portraits of the mythical hero Monkey King dressed in different styles, has quickly become one of the most talked-about NFT projects in Asia, with endorsements from celebrities including Steve Aoki, JJ Lin and Ian Chan of the Hong Kong-based boy band Mirror.

Monkey Kingdom did not immediately reply to a request for comment by the South China Morning Post on Wednesday.

Hong Kong native Andrew Man, a real estate investment professional by day and an NFT enthusiast by night, said that scams have become common occurrences in the world of NFT as its popularity surges.

Founded by a team of eight pseudonymous crypto enthusiasts, Monkey Kingdom represents a new breed of NFT start-ups in Hong Kong.

Monkey Kingdom aims to compete with other popular NFT profile picture projects in the West, such as CryptoPunks and Bored Apes Yacht Club, with a focus on Asia. “We believe in the Monkey Kingdom mission, and will make it a point to champion the Asian voice in the Web 3.0 ecosystem – shining a light on our rich cultures, and sharing it with the world,” the project wrote in a tweet on Tuesday.

Popular non-fungible token (NFT) project Monkey Kingdom, founded by entrepreneurs in Hong Kong and promoted by celebrities such as JJ Lin and Steve Aoki, had its group chat hacked on Tuesday, allowing a cyber thief to steal nearly US$1.3 million worth of cryptocurrencies with a phishing link.
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What is Monkey Kingdom?

We were featured on esteemed auction houses Sotheby’s and Phillips at their Contemporary Art Online Auction between 7 to 15 March 2022, and the INTERSECT Auction between 24 to 31 March 2022 respectively. These events were covered by global news agencies such as Fortune, Yahoo Finance and South China Morning Post, establishing Monkey Kingdom as an international brand.

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Monkey Kingdom (Gen 1) is a collection of 2,222 algorithmically-generated NFTs that exist on Solana. The collection minted on 27 Nov 2021 at a price of 0.49 SOL when SOL was $200.

Diamond Baepes (Gen 2) is our second collection featuring 2,221 female looking Wukongs. They were airdropped to our Gen 1 holders on 31 Dec 2021 as a gift for New Years’ Day.

Monkey Kingdom and Diamond Baepes together form the Genesis Collection, and are entitled to holders benefits such as access to the Genesis Club and staking.

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