NFT Collection Milady Hit by $1M Fee Heist: Legal Action Imminent

LUCKNOW (CoinChapter.com) — The Milady Maker NFT collection, renowned for its anime profile picture NFTs, has been rocked by a significant security breach.

An unscrupulous developer has managed to siphon off approximately $1 million in generated fees from Remilia Corporation, the decentralized autonomous organization (DAO) behind Milady Maker NFTs.

Charlotte Fang, co-founder of the Milady Maker NFT collection, took to social media platform X on 11 September to reveal the unsettling news. She disclosed that the developer within the Milady ecosystem had executed a cunning maneuver, jeopardizing Remilia Corporation’s revenue.

Due to this exploit, the Milady Maker DAO suffered a hit to its finances. This primarily affected revenue generated from the experimental finance art project known as Bonkler, created in April 2023.

However, Fang assured the community by stating:

“The Bonkler reserves, main contract, and NFTs are safe; only Remilia’s revenue from Bonkler was compromised. The creator emphasized that Remilia’s reserves are “unaffected” and user assets are “perfectly safe.”

Attempted Takeover of Social Media Accounts

In addition to diverting fees, the malicious attacker targeted Remilia’s social media presence. They successfully wrested control of three X accounts, including Miladymaker and Remilionaire, while locking out Remiliacorp.

Fang warned, “Treat those three accounts as compromised until further notice” and provide new official accounts, including RemiliaCorp333, MiladyMaker333, and RemilioBaby.

Legal Action on the Horizon

In her response to the exploit, Fang declared that Remilia had quickly identified the individuals responsible. She expressed a strong determination to pursue legal action against them.

Launched in 2021, the Milady NFT collection boasts 10,000 anime profile picture NFTs, each designed by Charlotte Fang.

Notably, in May 2023, Tesla CEO Elon Musk publicly endorsed Milady NFTs, using imagery from the collection in a meme. This endorsement triggered a rapid surge in the floor price of a Milady NFT. It soared from 3.8 Ether (ETH) to 7.8 ETH.

Current Market Impact

According to the latest data from OpenSea, the floor price of a Milady NFT has experienced a 15% decline over the past 24 hours, now standing at 2.86 ETH.