Charlotte Fang the creative mind behind Milady falls victim to a massive hacking resulting in multimilliondollar losses
Charlotte Fang, the visionary behind the Milady NFT collection, confirmed a significant breach in security on Saturday, March 16th. According to Fang, an unidentified hacker executed unauthorized transfers of millions of dollars’ worth of Ether (ETH) and non-fungible tokens (NFTs) from the treasury of Remilia, the decentralized autonomous organization (DAO) responsible for the Milady Maker project.
Initial awareness of the breach surfaced when Dumpster DAO, an anonymous user, shared a distressing message purportedly from Fang (also known as Krishna Okhandiar), indicating the depletion of funds from the Remilia treasury. Dumpster DAO detailed that the enigmatic wallet involved in the incident not only liquidated valuable NFTs but also siphoned around $1 million in ETH to a secondary address.
In response to escalating concerns within the crypto community, particularly among Milady NFT holders, Fang addressed the breach on social media, confirming the intrusion. Fang further disclosed that the breach compromised multiple wallets and urged caution against suspicious communications.
Despite the breach, Fang assured stakeholders that ownership of NFT contracts remains secure and stored in hardware wallets. However, the immediate fallout included losses in various staked NFTs.
This incident has prompted scrutiny from blockchain security experts, notably from Peckshield, who are dissecting the events and have identified a suspicious transfer preceding the breach as a potential trigger.
This is not the first time Milady has faced controversy; in September 2023, Fang revealed that a developer embezzled $1 million in generated fees. Fang emphasized that the perpetrator and accomplices would face legal consequences. The developer in question had been involved in the Bonkler project, where the theft impacted fees generated by Remilia.
Additionally, the developer allegedly seized codebases and colluded with others to wrest control of the platform’s social media accounts, successfully taking over accounts such as MiladyMaker and Remilioniare while locking out RemiliaCorp. Fang advised users to treat these accounts as compromised and provided new official handles.
For more details, see the SEC’s charges against 17 individuals implicated in a $300 million crypto Ponzi scheme.
