Tue 06 Sep 2022 ▪ 8:00 ▪
minimum reading – within
The NFT industry is subject to numerous scam attempts on a daily basis. Since the beginning of this year, the scammers have stolen nearly $ 100 million. Quite impressive figures that push the players in the sector to double or almost double their supervision. In such a context, there are advertisements that can get harsh and Rug Pull Finder (RPF) has learned this the hard way. Indeed, the NFT audit facility (whose role is to verify reliable projects and which ones to avoid) was hacked during the launch of the Bad Guys project’s Whitelist collection.
Bad Guys Project NFT Collection hacked
Last weekend, Rug Pull Finder’s (RPF) NFT audit team decided to formalize Bad Guys project white list. The structure has been set up 1221 random characters that they should have played the role of NFT scammers in a somewhat ironic context, except that humor has given way to bitterness. Because the project failed and RPF, the control structure, took it for its rank. At the origin of this failure, a bug, as the reviewer pointed out a few moments later on his twitter account. RPF didn’t bother checking the transaction code before putting it online. The sanction was immediate, two cheaters were able to afford up to 450 NFT out of 1,221 possiblewhile only one NFT per portfolio was possible.
After this vulnerability, the team immediately mobilized to correct the malfunction. The team of the auditor Rug Pull Finder has opened negotiations with the scammers. He offered them a sum of 2.5 Ether to get 330 non-fungible tokens.
Rug Pull Finder’s Mea Culpa does not remove doubts about its credibility
According to our information, the surveillance team could have prevented this exploit from happening. As a reminder, an anonymous source drew his attention to the flaws in the design 30 minutes before the attack. RPF claims to be responsible for this hack and does its mea-culpa: “After reviewing it with three totally different development groups, we had no idea the credibility of the knowledge that was sent to us … We were clearly wrong and we are really, really sorry. “ A reaction that arouses respect among some Internet users and doubts among others. In any case, the NFT industry remains highly vulnerable. You have to be on the alert to avoid any unpleasant surprises.
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PhD student in financial law and expert SEO web editor, Cédrick Aimé is passionate about cryptocurrencies, trading, etc. Thanks to his articles he naturally participates in the daily blockchain revolution for a better democratization of DeFi.