NFT Project Aku Dreams Loses $34 Million To Smart Contract Flaw

Rug Pull Finder's NFT contract was abused to allow two scammers to mint 450 NFTs instead of one per wallet. In an ironic twist, Rug Pull Finder (RPF), a nonfungible token (NFT) watchdog focused on identifying Web3-based fraud has fallen victim to a smart contract exploit of its own.According to the NFT investigator’s post on Twitter on Sept. 2, two people exploited a technical flaw in the project during the free mint stage — pilfering 450 NFTs out of a possible 1,221 which were intended to be limited to one per wallet.As discussed on our Twitter space's earlier today - We messed up. We....

A highly anticipated NFT project has been hit with an exploit and a smart contract bug, causing a disruption to its auction and leaving the team with $33 million unable to be accessed. The highly anticipated NFT project Akutars was marred by both an exploit and a bug on the weekend causing over 11,500 Ethereum (ETH) worth nearly $33 million to be locked forever within a smart contract, inaccessible even to the development team.The exploit however, was conducted by someone trying to show a vulnerability in the project and not to steal funds via a hack. The project went live on Friday April....

As the developer of a popular blockchain platform, I sometimes gets asked whether Ethereum-like smart contracts are on the MultiChain roadmap. The answer I always give is always: 'No, or at least not yet'. But in the hype-filled world of blockchains, smart contracts are all the rage, so why ever not? Well, the problem is, while we now know of three strong use cases for permissioned bitcoin-style blockchains (provenance, company recordkeeping and lightweight finance), we've yet to find the equivalent for Ethereum smart contracts. It's not that people don't understand what they want smart....

Solidity and EVM make smart contracts available to every developer out there, regardless of experience. This is a good way to boost innovation in the smart contract space, but may not yield the best results in the initial stages. The recent debacle surrounding The DAO has shed an interesting spotlight on smart contract technology. Since individual developers wrote the entire concept of this project, it looks like smart contracts are not completely trustless. There is still a lot of work to be done before this technology is ready for mainstream adoption. Not everyone is capable of – or....

Belt Finance, a Binance Smart Chain-based decentralized lending protocol, lost $6.3 million in a flash loan attack last week. The attackers took advantage of a series of inefficiencies in the smart contract to manipulate the price of the set and obtain profit from a series of transactions. This is just the last of a series of attacks that seem to be pointing to Binance Chain protocols due to their vulnerabilities. Belt Finance Loses $6.3 Million in Flash Loan Attack Belt Finance, a borrowing and loaning protocol that operates in the Binance Smart Chain suffered a flash attack last week....