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.
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.
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