Krishna Okhandiar, also known as Charlotte Fang, the founder of Remilia and Milady, has purportedly fallen victim to a hack after transferring significant amounts of Ether and non-fungible tokens (NFTs) to wallets involved in asset liquidation. The incident gained attention when Dumpster DAO on X shared a screenshot of Okhandiar expressing distress, accompanied by a link to an address receiving assets from a wallet linked to Remilia, the decentralized autonomous organization (DAO) behind the Milady Maker NFT series. Blockchain records indicate that the receiving address has sold numerous Milady-related NFTs and transferred $1 million worth of Ether to another address, while retaining nearly $1 million in Ether and various tokens.
The exact method of the alleged hack remains unclear, but blockchain security firm PeckShield highlighted a previous transaction from a Remilia vault wallet to a wallet with depleted funds, as detailed in a post on X. Fang revealed in September 2023 that a developer in the Milady ecosystem had successfully transferred approximately $1 million in generated fees from Remilia. According to Fang, the attackers seized control of three X accounts, including Miladymaker and Remilionaire, while Remiliacorp was locked down.
Milady, launched in 2021, comprises a collection of 10,000 anime avatar NFTs designed by Fang. The project gained public recognition in May 2023 when Tesla CEO Elon Musk posted a meme featuring images from the Milady NFT series, leading to a significant surge in the NFT's floor price from 3.8 ETH to 7.8 ETH. The hack targeting Okhandiar underscores the growing concern surrounding hacks and exploits in the crypto industry, particularly within decentralized finance applications. In 2023, a total of $1.8 billion was lost to crypto hacks and scams, with 17% attributed to the North Korean Lazarus Group, according to a report by Immunefi. Individual incidents of hacking accounted for over $65 million (97.54%) of the stolen funds in February 2024 alone.
