Phishfest is a makeshift term for the events of late April 2006, during which Mugenmidget illicitly accessed the accounts of many board members. In particular, Duckboy's accounts on other websites used the same password, and were subsequently vandalized.
Mugen performed this attack with Banana Head's technical assistance with Flash, and an unwise suggestion from Draco to try meta tags (he didn't think Mugen would really do it.) Both methods, unblocked on the board software at the time, redirected unsuspecting members to a fraudulent login page; when logging in, their given account details were sent to Mugen. He would then lock them out of their own accounts and embed redirects into their signatures to acquire user data more rapidly.
On April 20, 2006, Mugen registered an account on the MFGG Forums and posted a link that redirected the user to a fallacious login page, designed to look identical to that of the web forum. Users who entered their login data into this form would unknowingly give Mugen access to their account. To increase the legitimacy of the page, users were also actually logged out.
Kitsune Yamato and Duckboy were some of the most infuriated, as accounts of theirs on other sites used the same password and were vandalized along with their infected MFGG accounts.
Eventually, the problem was so severe that the forums were disabled.
The Identity Revealed
Due to Draco Icebane's having aided Mugen and Banana Head by pointing out that Flashes and meta tags were not blocked and actually convincing, he started dropping hints about who was committing the vile deeds due to his relative inability to keep a secret (and to an extent regret.) The administration team immediately fell to him with questions, threats, and bribes.
However, the only administrator Draco was willing to cooperate with was ShadowMan, who revealed the identity of the phisher as Mugen, until then a most respected community member.
The forums were reactivated at 5:02 PM (Central).