Milady Maker NFT Project Faces Crisis: Shock Drop in NFT Base Price - COINTURK NEWS
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Milady Maker NFT Project Faces Crisis: Shock Drop in NFT Base Price

7:35 pm (80 days ago)
September 12, 2023

Milady Maker, an Ethereum ecosystem NFT project, fell victim to a major exploit involving platform commission fees and social media accounts. The project management announced that they would take legal action against the attacker. However, the Milady Maker NFT collection gained popularity but started to decrease in base price after the exploit incident.

Only Revenue Loss Occurred

Charlotte Fang, co-founder of the Milady Maker NFT collection, announced in a post on September 11th that a developer in the Milady ecosystem successfully transferred approximately $1 million from earnings obtained from Remilia Corporation. Remilia serves as the decentralized autonomous organization (DAO) behind Milady Maker NFT. According to an announcement made by Fang, the DAO realized that its revenue was at risk from the experimental finance project Bonkler, created in April 2023, and stated the following:

“Bonkler reserves, main contracts, and NFTs are safe; only the income Remilia receives from Bonkler is at risk.”

The creator emphasized that Remilia’s reserves were not affected and that user assets were completely safe. In addition to the fee reserves, the attacker also took control of the codebase and coordinated with other team members to take over Remilia’s social media accounts.

NFT Collection Shared by Elon Musk

According to Fang, the attacker managed to take over three X accounts, including Milady Maker and Remilionaire, while Remiliacorp was locked out. Fang asked everyone to consider these three accounts as compromised until the next announcement, which will provide new official accounts, including RemiliaCorp333, MiladyMaker333, and RemilioBaby. Fang also added that Remilia easily identified individuals involved in the exploit and was willing to pursue legal action to the fullest extent of the law:

“We expect all our properties to be returned. I cannot turn a blind eye to such evil, and individuals involved in the incident have been severed from Remilia Corporation. Legal actions will now be taken for our rights.”

Milady, consisting of 10,000 anime profile picture NFTs designed by Fang, was launched in 2021. In May 2023, Tesla CEO Elon Musk shared a meme using images from the Milady NFT collection. This move triggered a rapid increase in the base price of a Milady NFT, raising it from 3.8 Ethereum to 7.8 ETH. According to data from OpenSea, at the time of writing this article, the base price of a Milady NFT was 2.86 Ethereum, and there was approximately a 15% decrease in the base price within 24 hours.

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