The Remilia Hack Unveiled

The Remilia decentralized autonomous organization (DAO), known for collecting the Milady Maker nonfungible token (NFT), experienced a severe breach.

The DAO's founder, Krishna Okhandiar, also known as Charlotte Fang, reported that significant amounts of Ether (ETH) and NFTs had been transferred to a wallet that quickly liquidated the assets. 1

The incident drew immediate attention on social media, with an account named Dumpster DAO on X sharing screenshots of the hack report and the address receiving the stolen assets.

Tornado Cash Involvement

On June 17, blockchain analysis firm CertiK confirmed that 1,209.5 ETH, equivalent to around $4.3 million, had been deposited into the crypto mixer Tornado Cash.

CertiK's analysis traced these assets to several addresses linked to the Remilia hack. The hacker utilized Tornado Cash to obscure the transaction trails and complicate efforts to recover the stolen funds.

"The assets were traced back to multiple addresses linked to the Remilia hack on March 16," CertiK reported.

Hacker Sells Milady NFTs

Following the hack, the hacker sold various NFTs linked to the Milady collection. Blockchain data revealed the address sold Milady-linked NFTs, including staked NFTx assets. Additionally, the address transferred $1 million in ETH to another wallet. This activity suggested a well-orchestrated plan to monetize the stolen assets.

Milady Memecoin Presale

In an unexpected twist, a memecoin inspired by Milady NFTs conducted a successful presale just two days after the hack. On March 18, the meme token Milady Wif Hat (LADYF) launched on the Solana network.

Within two hours, the presale attracted 91,486 Solana (SOL), worth $18.7 million. Despite the oversubscription, the team behind the memecoin promised to return the additional SOL to the senders. However, the token's price has dropped to $0.00001703.

Clarification from Memecoin Creators

The Milady Wif Hat memecoin creators have distanced themselves from the Remilia DAO and Charlotte Fang. On their website, they clarified that they are not affiliated with the Milady Maker NFTs.

"This token is simply paying homage to an NFT collection we all love and recognize," they stated—the clarification aimed to separate the memecoin project from the controversy surrounding the Remilia hack.