Milady Founder Reports NFT Wallet Breach

Charlotte Fang, founder of NFT projects Milady and Remilia, has confirmed a security breach of treasury addresses resulting in losses amounting to millions of dollars.

Remilia treasury appears to have been drained

Assets from multiple official Remilia wallets have been moved to the address below and are being sold off

0x778Be423ef77A20A4493f846BdbcDDfc30252cE9 pic.twitter.com/AgwmVwWIE4

— Dumpster DAO (@Dumpster_DAO) March 16, 2024

The incident was initially reported by specialists at Dumpster DAO. Experts at PeckShield noted that suspicious transactions were preceded by a transfer of ownership rights to the treasury to the drainer.

Fang stated that a hack affected all connected wallets. She attributed the breach to “unknown malware” infiltrating her password manager. Allegedly, the malware accessed all seed phrases, leading to the theft of approximately 850 ETH (~$3 million) from Remilia’s treasury.

In September 2023, the project’s co-founders filed a lawsuit against Fang, accusing her of embezzling $600,000 and attempting to seize control of the enterprise.

Krishna has schemed to seize control of Remilia’s operations, assets and treasury of valuable digital assets. As co-founders, before we had even sent our letter to Krishna, he had misappropriated digital assets worth more than $600,000 from the venture’s treasury, and began…

— Sprite Bonkler ? (@Milady_Sonoro) September 25, 2023

In February, losses from hacks and frauds in crypto projects amounted to $67 million.