Yuga Labs, the developer of the NFT Bored Ape Yacht Club (BAYC) and Apecoin (APE) projects, removed a piece of code that led to the ability to generate an infinite number of NFT BAYCs in the platform’s smart contract.
Yuga Labs removes dangerous code
Specifically, on June 8, a co-founder and engineer of Yuga Labs, known on Twitter as “EmperorTomatoKetchup,” officially provided the community with a transaction link where the code was withdrawn.
This issue was raised in early June 2021, when CEO Dan Kelly of NonFungibles pointed out that based on the line of code functionality programmed by Yuga Labs on Ethereum smart contracts, the company is free to create as many BAYC according to your will.
At the time, the official BAYC page made it clear that they would never run the code and were planning to revoke the ability to use it within the next few days.
However, until June 5, 2022, everything has not happened. An NFT developer under the name “foobar” made public the line of code that still exists, and Yuga Labs never took action to remove it as previously claimed.
This account immediately urged the community to pay attention to BAYC’s smart contract function. The mechanism allows a single wallet to generate an unlimited number of NFT BAYC, leading to translation effects moving the market if the wallet is hacked or scammed.
The community’s concerns are entirely justified. Because the BAYC contract allowed mint wallets up to 30 NFT at a time, no limit was set on the number of mints. The wallet can continue to mint indefinitely if there is enough ETH balance to pay the gas fee. Because one of the hallmarks of BAYC is scarcity, the unlimited ability to generate newer NFTs can affect the collection’s value.
Anyway, now all have been quickly resolved by the Yuga Labs team. The recall of the “dangerous” code may provide some relief to BAYC owners as the project has been frequently targeted with phishing attacks lately. Just four days ago, BAYC’s official Discord server was hacked for the second time this year, losing up to 200 ETH.
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