In mid-June 2025, NFT projects associated with Pepe creator Matt Furie suffered a cyberattack due to mis-hired North Korean IT personnel who took control of Furie's project contracts.
Details of the Cyberattack
The hackers gained control of NFT projects including Replicandy and Peplicator, resulting in over $1 million in losses. Analyst ZachXBT cited that this breach stemmed from accidentally hired North Korean IT workers.
Consequences Analysis
Following the attack, NFT prices plummeted as floor prices for collections dropped to zero. Losses associated with ChainSaw were approximately $310,000, demonstrating vulnerabilities in freelance contracting.
Historical Context and Expert Insights
North Korea is known for utilizing hacking groups to execute cyberattacks on crypto firms. The analysis revealed similarities between this attack and past exploits conducted by the Lazarus Group, notorious for targeting digital asset security.
This incident highlights the necessity of improving vetting processes when hiring IT personnel and implementing stricter security measures to safeguard digital assets.
