Two hours later, the new owner withdrew mint proceeds and, at 5:11 a.m. the next day, reopened the mint, issued fresh NFTs, and dumped them into open bids, pushing the floor price to zero.
On June 23, the same address took over three additional ChainSaw contracts: Peplicator, Hedz, and Zogz. The bad actor then repeated the mint-and-dump cycle.
He subsequently mapped many smaller monthly deposits from unrelated projects into the same exchange wallet.
Two GitHub accounts, “devmad119” and “sujitb2114,” list wallets that intersect the stolen fund trail.
A second incident surfaced on June 25, when the freelance services token project Favrr lost more than $680,000 following its listing on a DEX. On-chain analysis linked the exploit to the consolidation wallet 0x477, which received recurring payments from Favrr payroll addresses 0x1708 and 0x6412.
Gate.io deposit address 0xab7 received part of the stolen Favrr tokens, and was previously funded by the suspected developer behind “sujitb2114”.
Favrr announced that it would refund all initial decentralized offering participants, cancel its MEXC listing, and initiate a thorough audit of its codebase. The project added that it will publish a new launch timeline “in the coming weeks” and advised users to avoid trading impostor tokens in the interim.
ZachXBT reported that Favrr’s chief technology officer, listed as Alex Hong, deleted his LinkedIn profile after the exploit. Attempts to verify his work history with previous employers were unsuccessful.
The investigator plans to release aggregate data on payroll flows to wallets tied to the same North Korean cluster, contending that basic due diligence checks would have flagged the hires.
The stolen funds from the ChainSaw collections remain idle, while most Favrr proceeds have already passed through Gate.io and several nested services.
ZachXBT said he has not reached the teams because their direct message channels are closed, and official Telegram or Discord rooms do not provide contact options.
Investigators continue to follow the on-chain trails, and affected communities await formal statements from Furie, ChainSaw, and Favrr.
