A set of NFT collections linked to Matt Furie, the creator of the Meme Pepe, and the study of the chains hit from a series of contracts on contract which led to More than $ 1 million have been stolen. The attackers took control of mint contracts, the entries emptied and have issued new tokens, erasing the value and leaving the collectors amazed. Many fans were shocked to see the NFT projects of the pepper creator targeted by attackers with a deep access to the mint functions.
The theft was not a one -off success. It took place in phases, in several days and more collections, suggesting careful planning and a profound understanding of how the projects have been structured. The fact that the attackers have obtained control within the contract level has triggered serious concerns throughout the NFT community.
How the attack took place
It started in the early hours of June 18 when the Mint Replicandy contract was detected, part of the Chainsaw ecosystem. The property was safely transferred to a new address. This gave full control to the attacker. They emptied the mint funds and therefore reopened the contract to create new tokens. These were quickly expelled, flooding the market e Crashing Prices.
1/ Multiple projects related to the creator of Pepe Matt Furie & Chainsaw and another Favrr project were exploited last week, which led to steal ~ $ 1 million
My analysis connects both attacks on the same group of IT DPRK workers who have probably been accidentally hired as developers. pic.twitter.com/85Jrm5klqo
– ZachxBt (@ZachxBt) June 27, 2025
A few days later, the same playbook was used on three other collections connected to the chainsaw: Peplintor, Hedz and Zogz. The total value emptied has been estimated at over $ 300,000 at that point, but monitoring has shown that it has not stopped here. The striker moved the stolen funds through several wallets before collecting through the Mexc exchange, everything remained later than the observers.
The chain researchers, including ZachxBt, linked the activity to the wallets that had interacted with previous contractual exploits. Their analysis shown The process was not As soon as opportunistic but systematic.
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The suspicion falls on hiring of freelance code
Things took another turning point when investigators discovered the Github profiles related to developers who seemed based in the United States but were using tools and settings associated with North Korea. VPN data and regional preferences raised red flags. The suspicion is that a little access to the contract may have Come by developers taken through open platforms, given control over sensitive systems without a full control process.
In a separate but similar accident, a new NFT project called Favrr has lost $ 680,000 in almost identical conditions. Their cto disappeared and attacker’s funds followed the same recycling model. This has fueled concern because people believe that more projects may have been compromised through the same outsourcing channels.
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Aftermath and silence
The Favrr team announced that it would reimbursed users and conducted a complete review of their contract architecture. Chainsaw and Matt Furie have adopted a different approach. They closed pChat Ublic channels, contact modules removed and left -wing collectors guess what, if nothing else, Want be done.
The prices of the floor of the collections concerned have collapsed. While some owners hope for a recovery plan, others have started writing tokens as a total loss.
What says on NFT security
This accident highlights a bigger problem in the NFT space. Too many projects depend on external developers without the law security checks. Mint contracts are powerful tools. Once someone has access, it can change the rules, unlock the funds and create or destroy the value in a few minutes.
Now, collectors ask other questions before jumping into new drops. Who controls the contracts? How is the code reviewed? What Type security AND in place?
Without clear answers, this may not be the last time that an entire community looks at its resources vanishes during the night.
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The hackers have stolen over $ 1 million from the pepper NFT projects by diverting intelligent contracts linked to Chainsaw Studio and Matt Furie.
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The attacks have targeted multiple collections, draining funds and extracting new tokens for crash the prices of the floors through projects such as Peplintor and Hedz.
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The tests suggest that the violation has come through freelance developers, with suspicious bonds with North Korea and poor internal safety practices.
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A correlated exploit hit the Favrr NFT project for $ 680,000, following the same recycling path, raising fears of a wider vulnerability.
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This highlights a growing risk in the NFT space, in which the project teams offer contractors not paid access to mint authorizations without sufficient guarantees.
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