The Onbd Art team has been struck by a coordinated cyberattack that compromised four of their independent cryptocurrency wallets, leading to the loss of significant funds and invaluable NFT collections.
The breach, revealed by user @eyeballevae on X, resulted in the theft of ETH, ARB, USDT, and years’ worth of curated digital art.
These wallets, while unrelated in structure, were simultaneously targeted in what appears to be a carefully planned assault.
Beyond the monetary loss, the incident has been described as emotionally devastating for the Onbd team, given the stolen NFTs represent years of artistic curation and creative engagement within the crypto art space.
Mnemonic Compromise Enabled Swift Theft and Laundering Through FixedFloat
According to cybersecurity analyst Yu Xian, founder of SlowMist, the attack stemmed from a compromise of four separate mnemonic phrases linked to the hacked wallets.
Mnemonics are human-readable phrases used to generate cryptographic private keys.
Their exposure, likely due to long-term use or over-distribution among various team members, created a critical vulnerability.
Once the attacker gained control, they rapidly drained the wallets, converted assets to ETH, and laundered them using FixedFloat, a known platform for transaction obfuscation.
Despite the effectiveness of the theft, Yu Xian noted that the hacker’s techniques were relatively rudimentary on-chain, which may improve chances of identifying and tracking the stolen assets.
Community Rallies in Rapid Response to Track Hacker and Stolen Funds
In response to the attack, the broader cybersecurity and Web3 communities rallied swiftly to assist the Onbd Art team.
Key contributors from SlowMist, GoPlusSecurity, Camp Network, and other independent investigators collaborated in real-time to trace the stolen assets across the blockchain.
Within hours, the hacker’s wallet addresses were identified, and partial movement of the funds was documented.
The response not only opens the door to potential fund recovery or at least mitigation but also shows the vital role of real-time community coordination and intelligence sharing in countering decentralized cybercrime.
Broader Web3 Security Landscape Sees Rising Threats Amid Recent Exploits
The Onbd Art breach is the latest in a series of high-profile hacks plaguing the crypto space, reinforcing growing concerns about wallet security and phishing tactics.
Recent warnings from SlowMist and other investigative groups reveal alarming trends.
Crypto investigator ZachXBT recently linked a Hyperliquid whale who profited $20 million in leveraged trading to British hacker William Parker.
Additionally, the Osiris Guard browser extension, masquerading as a Web3 security tool, has been discovered to install Trojan malware and hijack wallet credentials.
Meanwhile, fraudulent versions of Ledger Live software are being used in phishing campaigns to extract seed phrases from unsuspecting users.
These events highlight an urgent need for vigilance, better security hygiene, and consistent education to protect digital assets in an increasingly hostile landscape.
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