A set of NFT collections linked to Matt Furie, the creator of the same Pepe, and the chainsaw studio were hit by a chain of contract embezzlement that led to More than a million stolen dollars. The attackers took control of mint contracts, drained the income and issued new tokens, destroying the value and leaving the collectors amazed. Many fans were shocked to see the NFT projects of the creator Pepe targeted by the attackers with deep access to the mint functions.
The flight was not a unique success. It took place in stages, over several days and several collections, suggesting meticulous planning and an in -depth understanding of the structure of the projects. The fact that the attackers took control of the interior of the contract triggered serious concerns in the NFT community.
How the attack took place
He started in the early hours of June 18, when the replica mint contract, part of the chainsaw ecosystem, was resumed. The property was quietly transferred to a new address. This gave the attacker a total control. They emptied the mint funds and then reopened the contract to create new tokens. These were pushed quickly, flooding the market and crushing Price.
1 / Several projects related to the creator of Pepe, Matt Furie & Chainsaw, as well as another Favrr project was operated last week, which resulted in about $ 1 million
My analysis connects the two attacks to the same group of IT workers from the RPDC who have probably been accidentally hired as developers. pic.twitter.com/85jrm5klqo
– Zachxbt (@zachxbt) June 27, 2025
A few days later, the same manual was used on three other collections connected to the chainsaw: Peplicor, Hedz and Zogz. The total drained value was estimated at more than $ 300,000 at that time, but follow-up showed that it did not stop there. The striker moved the stolen funds through various wallets before taking advantage of the Mexc exchange, while remaining several stages in advance on the observers.
Chain researchers, including Zachxbt, linked the activity to portfolios that had interacted with the exploits of previous contracts. Their analysis watch The process was not just opportunistic but systematic.
Discover: 9+ best high -risk crypto and reward to buy in June2025
Suspicion falls on independent code hires
Things took another tour when the investigators discovered GitHub profiles linked to developers who seemed to be based in the United States but used tools and parameters associated with North Korea. VPN data and regional preferences have increased red flags. Suspicion is that part of access to the contract may have come developers hired via open platforms, given the control of sensitive systems without a complete verification process.
In a separate but similar incident, a new NFT project called favrr lost $ 680,000 in almost identical conditions. Their CTO has disappeared and the attacks of the attack followed the same laundering model. This has fueled his concerns because people think that several projects may have been compromised by the same outsourcing channels.
Discover: Crypto following 1000x: 10+ Crypto tokens which can strike 1000x in 2025
After and silence
The FAVRR team announced that it would reimburse users and carry out a complete examination of their contractual architecture. The chainsaw and Matt Furie adopted a different approach. They closed pUblique chat channels, deleted contact forms and left collectors Guess what, if necessary, will to be done.
The prices of the affected collections floor collapsed. While some owners hope for a recovery plan, others have started to write tokens as a total loss.
What he says about security nft
This incident highlights a more important problem in the NFT space. Too many projects depend on external developers without the right Security checks. Mint contracts are powerful tools. Once someone has access, he can change the rules, unlock funds and create or destroy the value in a few minutes.
Now collectors ask more questions before jumping in new drops. Who controls contracts? How is the code examined? What kind security East in place?
Without clear answers, it may not be the last time that a whole community is watching its assets disappear overnight.
DISCOVER: 20+ Next Crypto to explode in 2025
Join the 99Bitcoins News Discord here for the latest market updates
Main to remember
-
The pirates stole more than a million dollars with PEPE NFT projects by diverting intelligent contracts linked to Chainsaw Studio and Matt Furie.
-
The attacks have targeted several collections, draining funds and striking new tokens to crush the prices of the floor through projects like Peplicor and Hedz.
-
The evidence suggests that the violation came by independent developers, with suspicious links with North Korea and bad internal security practices.
-
A related feat struck the FAVRR NFT project for $ 680,000, according to the same laundering path, which raises a broader vulnerability.
-
This highlights an increasing risk in the NFT space, where the project teams give entrepreneurs not assessed access to authorizations at the level of mint without sufficient backups.
The position of $ 1 million is drained by PEPE NFT projects in a coordinated contract hijacking appeared first on 99Bitcoins.
