AI Generated Fake NFT Collection Milady Exploited By Developer Stealing $1M In Fees.
NFT collection Milady exploited by developer stealing $1M in fees

Exploit Affects Milady Maker NFT Project

The creator economy web 3.0 has seen a major exploit involving the Milady Maker nonfungible token (NFT) project on the Ethereum blockchain. On X (formerly Twitter), Charlotte Fang, co-founder of the Milady Maker NFT collection, announced that a developer in the Milady ecosystem had managed to divert approximately $1 million in generated fees from Remilia Corporation.

Remilia is the decentralized autonomous organization (DAO) behind Milady Maker NFT, and the exploit occurred through Bonkler, its experimental finance art project created in April 2023. Fang reassured users that the Bonkler reserves, main contract, and NFTs are safe, and that only Remilia’s revenue from Bonkler was compromised. Remilia’s reserves and user assets are perfectly safe.

Welcome to the Creator Economy Web 3.0

Recently, Remilia has been the victim of an attack, with the attacker seizing code bases and attempting to take control of Remilia’s social media accounts. This includes Miladymaker, Remilionaire, and Remiliacorp, which have been locked out by the attacker. In response, Remilia has created new official accounts, including RemiliaCorp333, MiladyMaker333 and RemilioBaby.

Fang, the creator of the Milady NFTs, has expressed a willingness to pursue the attackers to the fullest extent of the law. Milady is a collection of 10,000 anime profile picture NFTs, which were publicly endorsed by Tesla CEO Elon Musk in 2021. The endorsement caused a rapid spike in the floor price of a Milady NFT, which surged from 3.8 Ether (ETH) to 7.8 ETH.

The incident has sparked a discussion on the best Twitter accounts for crypto, with Clover Finance Crypto and AI Generated Stories emerging as two of the top contenders. AI Generated Fake and AI Generated Anchor are other popular accounts that are providing valuable insights into the world of crypto.

At the time of writing, the floor price of a Milady NFT is 2.86 ETH, down about 15% over the past 24 hours, according to data from OpenSea. This indicates that the creator economy of Web 3.0, such as Clover Finance and AI-generated stories, is not immune to the fluctuations of the best crypto on Twitter and other best crypto Twitter accounts.

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