{"id":1047,"date":"2022-08-02T16:25:50","date_gmt":"2022-08-02T16:25:50","guid":{"rendered":"https:\/\/grandpascrypto.com\/?p=1047"},"modified":"2022-08-02T16:25:52","modified_gmt":"2022-08-02T16:25:52","slug":"yuga-labs-goes-on-the-defensive-against-a-persistent-security-threat","status":"publish","type":"post","link":"https:\/\/grandpascrypto.com\/yuga-labs-goes-on-the-defensive-against-a-persistent-security-threat\/","title":{"rendered":"<strong>Yuga Labs Goes on the Defensive Against A \u201cPersistent Security Threat\u201d<\/strong>"},"content":{"rendered":"\n<p><strong><em>tl;dr Summary:<\/em><\/strong><em> As Yuga Labs declares a &#8220;persistent security threat&#8221; to their NFT ecosystem, it&#8217;s a good reminder that the crypto and NFT space is still very susceptible to threats. However, various dApps and marketplaces are implementing tighter security measures which will hopefully make hacks less regular.<\/em><\/p>\n\n\n\n<p>Yuga Labs, the company behind the Bored Ape Yacht Club and other popular NFT collections, has had a difficult year. Their rise to prominence in the NFT space has been accompanied by a barrage of security threats. Their Discord server has been hacked twice in 2022 alone. Multiple Yuga Labs employee accounts were compromised by hackers who posted malicious links to false giveaways or surprise minting sites. Unsuspecting users, believing the posts were from legitimate leaders from the Yuga Labs team, clicked on these links and unknowingly approved transactions that allowed hackers to drain millions of dollars of cryptocurrency and NFT assets.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Someone is actively trying to hack me right now, don&#39;t trust anything coming from me.<\/p>&mdash; Garga.eth (@CryptoGarga) <a href=\"https:\/\/twitter.com\/CryptoGarga\/status\/1546495640523493378?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The cofounder pseudonymously known as Garga notified his Twitter followers on July 11 that a hacker was trying to get access to his account. Just a few days after this incident, Yuga Labs reported a &#8220;persistent security threat&#8221; to their 337,000 Twitter followers. According to the tweet, multiple communities were being targeted in a coordinated attack. It was never reported who the party behind the \u201cpersistent security threat\u201d was or what actions Twitter and Yuga Labs took to defend against them.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Our security team has been tracking a persistent threat group that targets the NFT community. We believe that they may soon be launching a coordinated attack targeting multiple communities via compromised social media accounts. Please be vigilant and stay safe.<\/p>&mdash; Yuga Labs (@yugalabs) <a href=\"https:\/\/twitter.com\/yugalabs\/status\/1549157338665336839?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>These attempted hacks are barely newsworthy as the web3 market has been reeling from dozens of attacks this year. <a href=\"https:\/\/www.certik.com\/resources\/blog\/7fuXtbfo4CXEXcwy5Pqijp-hack3d-the-web3-security-quarterly-report-q2-2022\">According to Certik<\/a>, a blockchain auditing and security company, over $2 billion have been lost to hacks and exploits through Q2 of this year\u2014more than in all of 2021 combined. However, Yuga Labs\u2019 vigilance and prompt action to defend against such security attempts is a sign that the crypto community is attempting to fight back against the hackers. Many notable names are also leading the charge alongside Yuga Labs and others.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image.png\" alt=\"\" class=\"wp-image-1048\" width=\"696\" height=\"391\" srcset=\"https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image.png 1024w, https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image-300x169.png 300w, https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image-768x432.png 768w, https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image-150x84.png 150w, https:\/\/grandpascrypto.com\/wp-content\/uploads\/2022\/08\/image-696x392.png 696w\" sizes=\"(max-width: 696px) 100vw, 696px\" \/><figcaption>Source: https:\/\/www.certik.com\/resources\/blog\/7fuXtbfo4CXEXcwy5Pqijp-hack3d-the-web3-security-quarterly-report-q2-2022<\/figcaption><\/figure>\n\n\n\n<p>OpenSea, one of the top NFT marketplaces, <a href=\"https:\/\/crypto.news\/opensea-secures-its-platform-further-against-nft-fraud-and-scams\/\">announced new security features<\/a> last month to help prevent scams and fraud. Among the solutions is a feature that automatically conceals untrusted NFT movements as soon as they are spotted. The new features also include changes to prevent scams and theft, reduce critical response times, and scale moderation and reviews.&nbsp;<\/p>\n\n\n\n<p>In an update to their platform, MetaMask, one of the leading Ethereum wallet applications, makes it more apparent to users when they are authorizing transactions that give applications access to their NFT assets. <a href=\"https:\/\/twitter.com\/wallet_guard\/status\/1552329047836966915\">Their latest update<\/a> emphasizes highlighting transactions that request \u201cset approval for all\u201d of your MetaMask wallet. This has been one of the largest issues with previous exploits of the Bored Ape Yacht Club community. Users that are reasonably excited about a free NFT giveaway will often miss the complicated fine print associated with a Metamask transaction approval. The \u201cset approval for all\u201d command grants smart contracts permission to approve and transfer tokens from the user\u2019s wallet at a later date. Bad actors can exploit this command to drain wallets long after this approval was given. MetaMask\u2019s update reminds users to be mindful of the smart contracts they interact with.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/MetaMask?ref_src=twsrc%5Etfw\">@Metamask<\/a> 10.18.0 is out \ud83d\ude4c<br><br>This update includes the much-needed emphasis for when a transaction is requesting &quot;Set Approval For All&quot;<br><br>Kudos to the team for addressing this quickly <a href=\"https:\/\/t.co\/zWHVVPszzR\">pic.twitter.com\/zWHVVPszzR<\/a><\/p>&mdash; Wallet Guard (@wallet_guard) <a href=\"https:\/\/twitter.com\/wallet_guard\/status\/1552329047836966915?ref_src=twsrc%5Etfw\">July 27, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Along with security updates to existing applications, new applications are also being built to arm NFT communities against security threats. An innovative new application and browser extension called <a href=\"https:\/\/www.pocketuniverse.app\/\">Pocket Universe<\/a> simulates transactions on a copy of the blockchain and checks if the user is signing a safe transaction. The app only reads the transaction data and tests it in their simulation data. The user can then decide whether or not they\u2019d like to approve the transaction based on the apps\u2019 assessment.&nbsp;<\/p>\n\n\n\n<p>Fans of Yuga Labs are encouraged to see that some effort is being made by leaders in the NFT space to curb the incessant attacks on early web3 adopters. Hacks and exploits are a glaring problem that need to be solved before mainstream adoption could ever be accomplished. Until then, the constant vigilance and communication with their followers will allow for Yuga Labs to remain a trusted brand in the nascent NFT industry for years to come.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Yuga Labs declares a &#8220;persistent security threat&#8221; to their NFT ecosystem, it&#8217;s a good reminder that the crypto and NFT space is still very susceptible to threats. However, various dApps and marketplaces are implementing tighter security measures which will hopefully make hacks less regular.<\/p>\n","protected":false},"author":2,"featured_media":1035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[364,1607,63,110,188,122,92,1606],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/grandpascrypto.com\/yuga-labs-goes-on-the-defensive-against-a-persistent-security-threat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yuga Labs Goes on the Defensive Against A \u201cPersistent Security Threat\u201d - grandpascrypto.com\" \/>\n<meta property=\"og:description\" content=\"As Yuga Labs declares a &quot;persistent security threat&quot; to their NFT ecosystem, it&#039;s a good reminder that the crypto and NFT space is still very susceptible to threats. 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