Fake Raffle Targets Instagram Followers

Hackers Scam Instagram Users

The Sandbox Metaverse platform is constantly plagued by criminal hackers, who have used it to wreak havoc on Instagram followers. So far, the criminals have launched a barrage of different scams aimed at stealing the private details, cryptocurrencies, and even NFTs from the social platform users.

According to the Metaverse community “The Sandbox”, hackers not only hacked their Instagram page but also attempted to steal Bored Ape nonfungible tokens (NFTs) from Instagram users. In addition, the hackers have redirected followers of The Sandbox page to a fake raffle giveaway URL.

Also, recently, the hackers compromised the voxel-powered NFT platform’s profile in order to promote a fake raffle ticket event that advertised a season 4 “LAND” giveaway to unsuspecting users.

The company further claimed that other security measures, including two-factor authentication, were hacked and disabled to further promote the fictitious giveaway. One user even reported losing NFTs after clicking a link on the website; the link which, upon realization, had its URL changed.

Scam Target Big Brands

Sebastian Borget, the co-founder of Sandbox and its COO, later confirmed that the hackers then attempted to “rent out” the stolen NFTs by contacting a number of potential victims with Bored Ape Yacht Club accounts. By creating fake profile pictures, the hackers offered users 40 Ether (ETH) to use the BAYC NFTs for 24 hours. Borget claims that Sandbox was able to regain control of its Instagram account a few hours later, but at the time of publication, stories promoting the giveaway were still active on the account.

To understand the magnitude of the hack; since its Alpha launch, back in November 2021, the NFT-powered Metaverse platform has worked with renowned companies and popular celebrities like Paris Hilton and Snoop Dogg, who have both partnered with the platform long-term. Even clothing retailers such as Adidas have launched NFT wearables, which are compatible with The Sandbox and other Metaverse platforms.

Since the hack, The Sandbox team has informed Cointelegraph that it is collaborating with Instagram’s security team, with an audit and security review currently in progress. As a result, they’ve also decided to hold off on making any further comments, until after an in-dept analysis on how Sandbox was used in the latest scam targeting Instagram users.