The a team behind AccoDreamsthe long-awaited non-replaceable token project (NFT) Which went online on Friday, announced a cipher Coinage rewritten after flaws in the first code of the smart contract They withheld $34 million “forever”.
In an update on Sunday, the project claimed that Anonymousthe team responsible for several NFT projects, “rewritten our mintage agreement and reviewed and verified several developers.”
AkuDreams is an astronaut-themed 3D NFT project, launched by artist and former professional baseball player Micah Johnson. The project consists of 15,000 Ethereum (ETH) tokens with random attributes.
On Friday, 5,500 NFTs were auctioned off via the Dutch auction model, with prices starting at 3.5 ETH ($9,960) and continuing to fall. In the end, the lowest bid will determine the final bid for the NFT, while those who made the highest bid will be compensated.
However, the minting was not perfect, as many flaws appeared in the code. Initially, a hacker used a contract bug to block all refunds and withdrawals from the contract, meaning that those who bid above the final NFT price were not refunded.
Fortunately, the hacker only asked the team to acknowledge the problem, stressing the importance of investing in security.
In a message, the hacker said, “Well, that was funny, I didn’t really intend to exploit it. Otherwise, I wouldn’t have used coinbase. As soon as you publicly acknowledge that the exploit exists, I will remove the ban immediately.”
In a Twitter post, the team took responsibility and the hacker unlocked the vulnerability. However, soon the project ran into more problems: some funds were blocked and “the team will not have access to it.”
according to route From developer alias 0xInuarashi, the flaw in the code did not take into account the fact that users minted many NFTs in a single transaction.
“Refund request has been submitted >=totalBids,” 0xInuarashi said, adding that the assumption is that all refunds should be processed before withdrawing.
0xInuarashi stated that the refund amount can never exceed 3669, while the total bid is 5495. Since the code requires that the chargeback be greater than or equal to totalBids, 0xInuarashi concluded that “the team will never be able to withdraw their ETH” valued at approximately $34 million.
“Mistakes made are costly to no one but me. I have reinvested almost everything in building Aku,” Johnson tweeted, adding that “most of them will come back to pay and we will continue to build what we set out to do. Stone by stone.”
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