Premint Hack Victims To Be Reimbursed With Over $525,000 In Ether Coins


The plans for repayment have been disclosed by Premint CEO Brenden Mulligan.

The company has offered a compensation to the victims who lost their NFT holdings as a result of the hack assault that hit the Premint NFT registration platform this week.Premint will return 340 Ether coins, or a total of about $525,000 (around Rs. 4.20 crore), to its scammed users.Brenden Mulligan, the CEO of Premint, has made the announcement.The hacker(s) stole 320 NFTs from the Premint platform, making it one of the greatest cyberattacks of 2022.They are also suspected of selling the stolen digital treasures on NFT marketplaces like OpenSea.

The site will make deposits into the 28 crypto wallets that were compromised of ETH coins equal to the collection floor price of each stolen NFT.The lowest priced NFT of a certain collection is represented by the “floor price”.

“You might think that this payment is insufficient.However, I don’t believe there is another scalable and impartial method to accomplish this.We will never be able to return all of the stolen NFTs to their rightful owners.Mulligan gave a 28-minute live report on the situation on YouTube and declared”, It’s impossible.

The Premint chief also disclosed that the two most costly NFTs that were stolen—a BAYC NFT and an Azuki NFT—had been bought at the listed price and restored to their pre-hack holders.

Premint has also announced the purchase of wallet authentication tool Vulcan in an effort to fortify its security measures; additional information will be released next week.

Premint enables NFT artists to create access-lists for their NFTs with randomly chosen collectors and community members to use for presales and giveaways, as stated on its website.

The platform, which is utilised by several well-known NFT companies, contained malicious JavaScript code that required users to click a pop-up to confirm their identities.Users who clicked on these pop-ups were the target of the hack attack.

In order to enable on-chain analysis and locate all the NFTs taken in this attack, Premint worked with a third-party contractor.

According to news sources, the hacker or hackers were able to obtain valuable items from well-known digital collectibles series, including Bored Ape Yacht Club (BAYC), Otherside, Moonbirds Oddities, and Goblintown, among others.

The 275 Ether tokens obtained by the hacker(s) through the flipping of these stolen NFTs were then passed from the TornadoCash crypto mixer to make the transaction secret and untraceable.

The case is still under investigation.

“The last four days have been filled with nonstop meetings with accountants, attorneys, and Web3 executives.It’s been tremendously complicated and informative”, Mullilgan wrote on Twitter.

Found this article interesting? Follow BG on Facebook, Twitter and Instagram to read more exclusive content we post.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments

Latest news

LG Ultra PC 14-Inch, 16-Inch Laptops With AMD Ryzen 5000 Series Processors Launched

The laptops of the LG Ultra PC series include anti-glare IPS panels with minimal bezels. Last week, LG introduced 14-inch...

Samsung Galaxy A23 5G With 6.6-Inch Infinity-V Display, 5,000mAh Battery Launched

Table of ContentsSamsung Galaxy A23 5G price, availability (expected)Samsung Galaxy A23 5G specifications Samsung has not yet revealed the Galaxy...

LG Ultra Tab With 10.35-Inch Display, Snapdragon 680 SoC Launched

Table of ContentsLG Ultra Tab priceLG Ultra Tab specifications The 7,040mAh battery in the LG Ultra Tab supports 25W rapid...

OnePlus 10T Glacier Mat Case With Sustainable Circulation Cooling, Bumper Case Sandstone Launched In India

Table of ContentsOnePlus 10T Glacier Mat Case, Bumper Case Sandstone, Tempered Glass price in India A tempered glass for the...

Latest Updates

Must read

iPad and Apple Watch Allegedly Certified on EEC, iPad Air 4 Leak Surfaces Online:A era of technology

Apple has already confirmed a delay in the next-gen...

Honor X40i With MediaTek Dimensity 700 SoC, 50-Megapixel Main Camera Launched

With the Honor X40i, smart storage expansion technology is...

You might also likeRELATED
Recommended to you

Would love your thoughts, please comment.x