ChainSaw, the NFT project by Pepe creator Matt Furie, has been silent for over a month after the cyberattack from the North Korean hacker.
Although the stolen money can be frozen, no actions have been taken to handle or block any assets. The North Korean hacker has made multiple transfers to the MEXC exchange.
MAIN CONTENT
The ChainSaw NFT project was attacked and lost over 1 million USD.
The stolen assets can be frozen but have not been handled yet.
The North Korean hacker has repeatedly transferred money to MEXC.
Why has the ChainSaw NFT project remained silent after the attack by the North Korean hacker?
Security experts say that after the North Korean hacker successfully breached, ChainSaw maintained silence for over a month, raising questions about the project management team's ability to respond. This delay has raised concerns about security and user rights.
Matt Furie, the creator of Pepe, has also not provided any official response since the incident occurred. According to the July 2024 cybersecurity report, the lack of transparency has diminished trust from the cryptocurrency and NFT community in the project.
What do the data indicate about the extent of the damage and the hacker's behavior?
On-chain analyses confirm that the stolen assets exceed 1 million USD, which could be frozen under current cryptocurrency security regulations. However, the hacker still transferred money multiple times to the MEXC exchange for laundering.
“The failure to timely freeze assets has put the NFT industry at significant trust risk. This is a lesson for projects to enhance security measures more thoroughly.”
Ngo Minh Tri, Blockchain Security Expert, 2024
What preventive measures are being proposed to avoid similar incidents?
Fintech technology experts emphasize the need to implement a real-time transaction monitoring system, combined with automatic freezing of suspicious assets, and improve crisis response processes for NFT projects. Additionally, exchanges must coordinate more closely with regulatory authorities.
“Prevention is vital for NFT projects to protect user assets while maintaining the trust of the cryptocurrency community.”
Tran Quang Huy, Cybersecurity Director Fintech Global, 2024
Have other NFT projects encountered similar incidents and how did they handle them?
Many NFT projects in the past have also been attacked, but thanks to quick responses and token freezing policies, they effectively minimized losses. For example, the XYZ project (2023) blocked the stolen assets within 48 hours, restoring investor confidence.
Project Year Loss (USD) Response Result ChainSaw 2024 Over 1 million No assets frozen Confidence decreased, money transferred to MEXC XYZ Project 2023 500,000 Blocked, quick investigation Restored community trust
Frequently Asked Questions
How much money did ChainSaw lose to the North Korean hacker?
ChainSaw lost over 1 million USD in the attack, according to on-chain analysis reports and official sources in 2024.
Why have the stolen assets in this case not been frozen?
Currently, there have been no freezing actions due to the lack of an official response from the project or regulatory authorities, even though these assets could be frozen.
How did the hacker use the stolen money?
The hacker has made multiple transfers to the MEXC exchange, showing signs of money laundering, indicating a plan to exploit the stolen assets for profit.
What should users investing in ChainSaw do at this time?
Users are advised to follow official updates from the project, limit transactions, and increase vigilance regarding related risks.
How can other NFT projects learn from this incident?
Projects need to quickly enhance security systems, implement automatic asset freezing, and ensure data transparency to maintain community trust.
Source: https://tintucbitcoin.com/du-an-pepe-nft-chua-ra-mat-hacker-rut-tien/
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