A series of NFT collections that are bound by Matt Furie, the creator of the Pepe Meme, and the chainsaw studio were Punch Through a number of contracts That led to more than 1 million US dollars stolen. The attackers took control of coin contracts, triggered income and issued new tokens, wiped the value and was stunned. Many fans were shocked to see how the NFT projects of the Pepe Creator were addressed by attackers with deep access to coin functions.
The theft was not a one -time goal. It developed in phases, several days and several collections, which indicates careful planning and a deep understanding of the structure of the projects. The fact that the attackers obtained control over the contract level has triggered serious concerns in the NFT community.
How the attack affected
It began in the early morning hours of June 18, when the contract for replicandy, part of the Kettensaw ecosystem, was taken over. The property was tacitly transferred to a new address. That gave the attacker full control. They emptied the MINT agent and then opened the contract to create new tokens. These were quickly pushed out, flooded the market and crash Prices.
1/ several projects bound with the Pepe creator Matt Furie & Chainsaw, as well as another project that FAVRR exploited last week, which led to stolen ~ 1 million USD
My analysis links both attacks with the same group of DVRK -IT employees who were probably accidentally set as a developer. pic.twitter.com/85jrm5klqo
– ZachxBT (@zachxbt) June 27, 2025
Only days later, the same game book was used for three other chainsaw collections: Peplicator, Hedz and Zogz. At that time, the total value was estimated at over 300,000 US dollars, but the tracking showed that he did not stop here. The attacker moved the stolen funds through various wallets before he was equipped with the Mexc exchange while they were able to take several steps to the observers.
On-chain researchers, including ZachxBT, tied up the activity of containers that had interacted with earlier contracts. Your analysis shown The process was not Only Opportunistic but systematic.
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The suspicion falls back on freelance code employees
Things changed to another turn when the investigators discovered Github profiles that were connected to developers who were based in the United States, but used tools and settings associated with North Korea. VPN data and regional preferences increased red flags. The suspicion is that part of the contract access may have come by developers who have been set through open platforms in view of the control of sensitive systems without A full Checking process.
Source: ZachxBt on X.com
In a separate but similar incident, a newer NFT project called FAVRR lost $ 680,000 under almost identical conditions. Their CTO disappeared and the funds from the attack followed the same laundry pattern. This has fueled concern because people believe that several projects have been affected by the same outsourcing channels.
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Follow and silence
The FAVRR team announced that they would reimburse users and carry out a complete review of their contract architecture. Chainsaw and Matt furie chose a different approach. You close PUblic chat channels, removed contact forms and left -wing collectors Guess what, if at all, will be done.
EthereumpriceMarket Capeth $ 292.88b24h7d30D1yAll time
The ground prices of the collections concerned have collapsed. While some owners hope for a recovery plan, others have started to write off the tokens as a total loss.
What it says about NFT security
This incident shows a bigger problem in the NFF room. Too many projects depend on external developers without the right Security controls. Mint contracts are powerful tools. As soon as someone gets access, they can change the rules, unlock funds and create or destroy them in minutes.
Now collectors ask further questions before you get into new drops. Who controls the contracts? How is code checked? What Kind security Is in place?
Without clear answers, this may not be the last time that an entire community overnight disappears its assets.
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Key Takeaways
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Hackers stolen over 1 million US dollars from PEPE NFT projects by kidnapping intelligent contracts with chainsk studio and Matt furie.
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The attacks aimed at several collections, drained money and showed new tokens on crash prices for projects such as Peplicator and Hedz.
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There is indications that the violation caused by freelance developers with suspicious relationships with North Korea and poor internal security practices.
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A related exploit met the FAVRR NFT project for 680,000 US dollars according to the same laundry, which caused the fears from broader vulnerability.
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This underlines a growing risk in the NFT area, in which project teams allow undisturbed contractors to access the coin level without adequate protective measures.
The post 1 million US dollars derived from PEPE NFT projects in coordinated contract -hijack first appeared on 99bitcoins.
