Milady creator Charlotte Fang hit by major security breach, millions in assets compromised

Charlotte Fang, the driving force behind the Milady NFT collection, has confirmed a significant security breach, resulting in the illicit transfer of millions of dollars worth of Ether (ETH) and non-fungible tokens (NFTs) from the treasury of Remilia, the decentralized autonomous organization (DAO) overseeing the Milady Maker project.

The breach, disclosed on Saturday, March 16, was initially brought to light by Dumpster DAO, an X user who shared a distressing message from Fang, also known as Krishna Okhandiar, indicating the draining of the Remilia treasury.

Dumpster DAO’s account detailed how an unknown hacker sold off valuable NFTs and withdrew approximately $1 million in ETH to a secondary address. In response, Fang confirmed the breach on social media, cautioning the community about suspicious communications and revealing that multiple wallets were compromised.

Despite assurances regarding the security of NFT contract ownerships stored on hardware wallets, the breach has impacted various staked NFTs, prompting concerns among Milady NFT holders. Blockchain security experts, notably those at Peckshield, have initiated investigations, tracing back suspicious transfers that may have triggered the breach.

This isn’t the first instance of controversy for Milady; in September 2023, Fang disclosed a developer’s embezzlement of $1 million in generated fees, primarily from the Bonkler project. Fang vowed legal action against the rogue actor and accomplices in seizing codebases and attempting to control social media accounts.