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The official Twitter account of BAYC metaverse Otherside appears to be hacked following the latest SEC probe into Yuga Labs. Bored Ape Yacht Club and Yuga Labs co-founder Greg Solano (@CryptoGarga) confirmed suspicious activity on his Twitter a few hours ago. What is going on with BAYC? Let’s dig a little deeper!
What Could Have Caused The Otherside ‘Hack’?
The Otherside official Twitter account appears to display unusual activity. Both, the profile picture and Twitter cover seem to have been taken down to display blank images. So far, no official sources from either Yuga Labs, BAYC, or related partners have come forward with any knowledge of the situation.
Earlier today, the US Securities and Exchange Commission declared an investigation into BAYC. The probe seeks clarity on regulatory rules surrounding Yuga’s digital assets being closer in nature to stocks. Following the investigation, ApeCoin (the governance token for BAYC-related projects) fell sharply by ~12%. But what’s really driving questions is the mysterious ‘blackout’ of the official Otherside Metaverse Twitter account.
Yuga Labs co-founder @CryptoGarga tweeted to his followers not to trust anything from the Otherside Twitter, leading people to question whether the Metaverse Twitter was hacked.
How Did Crypto Twitter React?
Crypto Twitter is definitely having a field day with the recent events. As with all the news that web3 Twitter absorbs, the usual flood of memes was also attached to people raising awareness, asking questions, and outrage. The timing of the alleged Otherside Metaverse hack is the real kicker.
Some folks ask if they’ve tried “switching it off and on again,” and others declare a complete lack of trust in Otherside & BAYC projects. Some are even accusing the “hack” of being an inside job. Either way, the situation raises eyebrows and questions across the NFT landscape. If confirmed true, this would be the second time that the Bored Ape Yacht Club faces hacking issues. Moreover, $100 million was also drained from Mango, the Solana defi trading platform, due to hackers.