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One of Ferrari's subdomains was hijacked to host a scam promoting a fake Ferrari NFT collection.
An Ethereum wallet that was associated with the cryptocurrency scam collected a few hundred dollars before the hacked subdomain was shut down.
Ethical hacker and bug bounty hunter Sam Curry reported on Thursday that Ferrari's subdomain forms.ferrari.com was hosting a fake NFT (Non-Fungible Token) scam.
An NFT, or Non-Fungible Token, is data stored on a cryptocurrency blockchain that a digital certificate has signed to prove that it is unique and cannot be copied.
Last year, the luxury carmaker had announced plans to launch NFTs in partnership with tech firm Velas, that made this scam very convincing.
The crypto scam which was titled "Mint your Ferrari" tempted visitors to buy NFT tokens, falsely promoting that Ferrari introduced "a collection of 4,458 horsepower NFTs on the Ethereum network.
On further investigation by Sam Curry and a security engineer known as d0nut revealed that attackers exploited an Adobe Experience Manager flaw to hack the subdomain and host their crypto scam.
A Twitter user named root@rebcesp found that the Ethereum wallet had collected more than $800 of funds ever since the scam went up. However, Etherscan has flagged the wallet address due to reports emerged of suspicious activity linked to the wallet.
The hacked Ferrari subdomain has now been taken down and now it shows an HTTP 403 error code.
NFT scams and thefts are one of the newest forms of cryptocurrency fraud seen recently.
