Cameo CEO loses Bored Ape NFT and $200,000 worth of assets in a hack

Cameo app CEO Steven Galanis’s crypto wallet assets were stolen through his Apple iCloud ID hack. Galanis lost Bored Ape NFT and other digital assets worth $200,000, all sold over the marketplace by the hacker.

Galanis previously bought Bored Ape NFT for $319,000 but the hacker sold it for $130,000. Other than that, an Otherdeed NFT, a Phanta Bear, 2 11 Captain’s Club NFTs, $69,000 worth of ApeCoin, and $4,000 ETH were also taken out of his wallet.

Despite the claim that Apple iCloud ID is safer than any other account, the recent reports reveal that Metamask wallets’ seed phrase is saved in the iCloud passwords when individual signs in on an iPhone. So, anyone who accesses someone’s iCloud can easily steal the seed phrase of a crypto wallet.

This method has become a common way to steal digital assets. Galanis revealed the same method was used to steal his Bored Ape NFT. The hacker first hacked into his Apple ID and then accessed his crypto wallet.

As Bored Ape NFT value increases with time, the hackers seem to be targeting every Ape owner. This is a big concern for the BAYC community since these NFTs are worth almost a million dollars in today’s market.

As of now, Bored Ape #9012 has been reported for suspicious activity on the OpenSea marketplace. Galanis hasn’t revealed how he will recover from this huge loss.