Founder of NFT Collection Milady Targeted by Hacker Attack

Krishna Okhandiar, also known as Charlotte Fang, the creator of the popular NFT collection Milady, fell victim to a hacker attack after transferring a significant amount of ETH and NFTs to a liquidation wallet address.

Information about the incident was posted by the Dumpster DAO account on X, sharing screenshots of messages from Charlotte saying “I’m exhausted,” along with a link to the address receiving assets related to Remilia. Remilia is a decentralized autonomous organization (DAO) associated with the Milady Maker collection.

Tracking the on-chain transactions, this wallet address liquidated some NFTs related to Milady, including staked NFTs, and transferred 1 million USD worth of ETH to a secondary wallet address. Currently, this wallet still holds nearly 1 million USD worth of ETH and some other tokens.

However, the origin of the hack remains unclear. The blockchain security company Peckshield identified a previous transaction from Remilia’s treasury wallet to the hacker’s wallet.

This isn’t the first time Milady has faced issues. In September 2023, Fang announced that a developer had left Remilia Corporation. According to Fang, Milady was also hacked for 1 million USD in fees from three accounts, including Miladymaker, Remilionaire, and Remiliacorp.

Milady Maker, launched in 2021, is a collection of 10,000 NFTs featuring chibi-style female characters designed by Fang. In May 2023, Milady gained attention from Elon Musk on social media. The “Musk effect” significantly increased the price of Milady NFTs from 3.8 ETH to 7.8 ETH each.

Impact of the NFT Milady transaction attack

Alongside the NFT liquidation and the transfer of 1 million USD worth of ETH, trading volume for Milady NFTs dropped by 80% in the past 24 hours, but prices remain stable around 3.6 ETH.

Cyberattacks continue to pose a significant threat to the cryptocurrency market, particularly in the decentralized space. In 2023 alone, hacks and scams caused nearly 2 billion USD in losses, according to Immunefi’s statistics.