Discord

Something that anyone who has been in the NFT space for some time will have noticed, is that NFT projects appear to repeatedly suffer from hacks in their Discord servers. This is hugely problematic for the projects themselves, as not only does it put the community at risk, but it also erodes trust.

Why would a hacker want to hack a Discord server?

There are a range of reasons as to why someone may wish to compromise a Discord server, not least of which that they are often full of relatively wealthy people (particularly those servers whose members shell out five or six figures on NFTs).

The NFT craze invited a new wave of people into the world of cryptocurrencies, and the world of NFTs (far more than DeFi) is replete with inexperienced users who are unfamiliar with the security measures that they ought to be taking and aren’t as familiar as OGs when it comes to dealing with the proliferation of scams and bad actors in the space.

The project has been gaining popularity, and now has over 750,000 “mining hotspots” online, with a further 75,000 being added to the network each month.

Are Discord servers easy to compromise?

There are all sorts of ways that one could potentially compromise a Discord server, and hackers have shown themselves to be extremely creative in their methods.

A recent survey by OkHotshot showed that in July of 2022 alone, at least 101 NFT Discord servers were compromised, and a range of different techniques were used in order to perpetrate this.

One of the most common ways that Discord servers are compromised is via phishing.  In this sort of attack, and attacker will impersonate a service and ask particular members of a Discord community to enter their log in details.

Sometimes these details are used to directly exploit the person who gave them, but they can be used to gain access to a wider audience.

By compromising an NFT Discord server and pretending to be the admin, criminals sometimes launch “stealth drops”.  These are NFT collections that purport to be from the community but are in actual fact from hackers.

Numerous Discord servers, such as Psychedelics Anonymous, have suffered from this sort of attack in the past.

Usually, Discord moderators deal with these issues quite quickly, but sometimes hacks are not noticed quickly enough to protect users.

This sort of attack is extremely profitable for the perpetrators, since they know that people who own these NFTs have assets – the NFTs themselves are assets.

Scams are abundant on crypto

It isn’t just Discord servers being hacked that are problematic for the cryptocurrency community. Often, as is the case with Telegram, direct messages are sent to users claiming to be “support staff”.

These messages should be simply ignored and reported, since it is extremely unlikely that they are legitimate. Despite the maturity of the cryptocurrency markets, it is still surprising to see how many people willingly give up their seed phrases.

Phishing attacks can also come in other forms.  Often, crypto users engage with and sign contracts that they are not familiar with – and this can happen even to those who are more experienced. For example, only a few months ago, there was a serial scammer stealing Bored Apes by convincing owners that he had built software that would allow them to automatically animate their apes.

Users should make sure that they are very careful with their crypto and that they take the appropriate measures to ensure that their assets are safe at all times.  If one is storing a lot in crypto, then it makes sense to buy a hardware wallet, but even with a hardware wallet it is important to protect one’s seed phrase and to be extremely careful which contracts one interacts with in Web3.

For those who run Discord servers with large Web3 communities, it is important to remain vigilant and to respond quickly in the event that a hack takes place.

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