Moonbirds Creator Kevin Rose Lost $1 Million In NFTs

Key Points:

• Kevin Rose, the creator of the NFT project Moonbirds, lost at least $1 million in NFTs as a result of a wallet vulnerability.
• Rose’s wallet’s OpenSea transaction history reveals that various NFTs, including Cool Cats, Squiggles, and OnChainMonkeys, were taken.

A phishing attack caused Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, to lose personal NFTs valued at more than $1.1 million.

At 1:49 p.m. EST, CirrusNFT, a Twitter user, first spotted the outflow. At 2:02 p.m., Rose personally acknowledged the breach on Twitter. The NFT developer and co-founder of PROOF (the company behind Moonbirds) tweeted the information and urged people not to purchase any Squiggles NFTs until they could report them as stolen.

I was just hacked, stay tuned for details – please avoid buying any squiggles until we get them flagged (just lost 25) + a few other NFTs (an autoglyph) …

— KΞVIN R◎SE (🪹,🦉) (@kevinrose) January 25, 2023

Rose’s wallet’s OpenSea transaction history reveals that various NFTs, including Cool Cats, Squiggles, and OnChainMonkeys, were taken.

Rose’s NFTs appear to have been stolen by the hacker’s address. It is believed that Rose signed a fraudulent signature that gave the exploiter access to a substantial percentage of his NFT assets, causing his NFTs to be drained.

The exploiter took at least one Autoglyph, which has a floor price of 345 ETH, 25 Art Blocks, commonly known as Chromie Squiggle, valued at least a total of 332.5 ETH, and nine OnChainMonkey products, each worth at least 7.2 ETH, according to an independent study by Arkham. Rose preserved a few NFTs by storing them in a different vault.

In the past hour: Kevin Rose's NFT vault wallet has just been drained, with $1.09M in NFT's taken.

Biggest losses include the following NFT's:

1 Autoglyph – 345 ETH
25 Art Blocks (Chromie Squiggle) – 332.5 ETH
9 On-chain Monkeys – 7.2 ETH pic.twitter.com/udGhNHvWQg

— Arkham (@ArkhamIntel) January 25, 2023

Arran Schlosberg, the vice president of PROOF, claimed that Rose was phished into signing a malicious signature, which let the exploiter move over a significant amount of tokens, despite the fact that numerous independent on-chain evaluations had been shared:

1/ This was a classic piece of social engineering, tricking KRO into a false sense of security. The technical aspect of the hack was limited to crafting signatures accepted by OpenSea's marketplace contract.

— Arran (@divergencearran) January 25, 2023

On January 25, cryptocurrency analyst foobar provided further details on the technical aspect of the hack, saying that Rose gave his approval for a contract with the OpenSea marketplace that would relocate all of his NFTs whenever Rose completed transactions.

be super careful when signing anything, even offchain signatures. kevin rose just had ~$2 million worth of NFTs drained from his vault from signing one malicious seaport bundle. thankfully a couple things held back, like the punk zombie (1000 ETH) which can't be traded on OS pic.twitter.com/GXHR3NQHLf

— foobar (@0xfoobar) January 25, 2023

The exploiter transmitted the funds to FixedFloat, a cryptocurrency exchange on the Bitcoin layer 2 “Lightning Network,” according to a transaction map released by on-chain researcher ZachXBT.

Three hours ago Kevin was phished for $1.4m+ worth of NFTs. Earlier today the same scammer stole 75 ETH from another victim.

Mapping this out we can see a clear trend of sending the stolen funds to FixedFloat and swapping for BTC before depositing to a bitcoin mixer. https://t.co/2yrFpfYttT pic.twitter.com/ZlywPYydwx

— ZachXBT (@zachxbt) January 25, 2023

The exploiter then converted the stolen fund into Bitcoin and put it in a mixer:

Three hours ago Kevin was phished for $1.4m+ worth of NFTs. Earlier today the same scammer stole 75 ETH from another victim.

Mapping this out we can see a clear trend of sending the stolen funds to FixedFloat and swapping for BTC before depositing to a bitcoin mixer. https://t.co/2yrFpfYttT pic.twitter.com/ZlywPYydwx

— ZachXBT (@zachxbt) January 25, 2023

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