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NFTs News

Even Watchdog Group Rug Pull Finder’s NFT Is Exploited

September 4, 2022 - Around 2 mins mins to read
Rug Pull Finder, an NFT watchdog group dedicated to preventing fraud, hacks, and scams in the non-fungible token ecosystem, has seen its own NFT project exploited.
Even Watchdog Group Rug Pull Finder's NFT Is Exploited
Even Watchdog Group Rug Pull Finder's NFT Is Exploited 2

The Bad Guys collection is about bad actors stealing NFTs. However, a glitch in its smart contract allowed two people to mint 450 NFTs instead of the permitted one NFT per wallet.

Rug Pull Finder announced the development, claiming they were notified about the exploit 30 minutes before the mint went live but “did not believe the credibility of the information supplied to.”

Meanwhile, community members mocked the group’s inability to prevent the exploit, with crypto sec expert OKHotshot noting that the 400 NFT mint was technically not a hack or exploit because the contract allowed it.

Another community member, Scott Mitchell, questioned why the company went ahead with the mint despite receiving a report of a probable exploit 30 minutes before it went live.

Meanwhile, Rug Pull Finder appears to be working on a solution. An update on the matter stated that it had contacted the wallets that used the exploit and offered 2.5 ETH to buy back the remaining 366 NFTs.

The incident was not a hack or a scam because the wallets just perceived the advantage in the bug and opted to benefit from it.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

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Harold

CoinCu News

Bad Guys collection

exploited

Rug Pull Finder

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
NFTs News

Even Watchdog Group Rug Pull Finder’s NFT Is Exploited

Rug Pull Finder, an NFT watchdog group dedicated to preventing fraud, hacks, and scams in the non-fungible token ecosystem, has seen its own NFT project exploited.
Even Watchdog Group Rug Pull Finder's NFT Is Exploited
Even Watchdog Group Rug Pull Finder's NFT Is Exploited 4

The Bad Guys collection is about bad actors stealing NFTs. However, a glitch in its smart contract allowed two people to mint 450 NFTs instead of the permitted one NFT per wallet.

Rug Pull Finder announced the development, claiming they were notified about the exploit 30 minutes before the mint went live but “did not believe the credibility of the information supplied to.”

Meanwhile, community members mocked the group’s inability to prevent the exploit, with crypto sec expert OKHotshot noting that the 400 NFT mint was technically not a hack or exploit because the contract allowed it.

Another community member, Scott Mitchell, questioned why the company went ahead with the mint despite receiving a report of a probable exploit 30 minutes before it went live.

Meanwhile, Rug Pull Finder appears to be working on a solution. An update on the matter stated that it had contacted the wallets that used the exploit and offered 2.5 ETH to buy back the remaining 366 NFTs.

The incident was not a hack or a scam because the wallets just perceived the advantage in the bug and opted to benefit from it.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News