Smart contract error freezes $34 million of ETH for NFT project
An NFT project named AkuDreams was struck by a griefing exploit via its refundable Dutch auction Friday in which the hacker did not benefit, but the project’s smart contract was afterwards frozen with $34 million in cash.
Foobar, a crypto developer, published some code demonstrating that: “The AkuDreams contract has a lifetime value of $34 million, or 11,539 eth. Individual users and the development team are unable to obtain it.”
The Twitter account for AkuDreams, Aku::Akutars, recognised the exploit and said: “We are locked down and speaking with some of the finest on future measures. Your NFTs will be minted and made public as soon as we can. We will also be attempting to release monies for those pass holders who bid with the goal of obtaining a price. 5 ETH below the final price.”
This was followed several hours later by a tweeted update saying: “.5E Refunds for Pass Holders – Will be fulfilled – ETA: Monday/Tuesday – Why? The bank will reopen on Monday. The Chapter’s treasury funds will be utilised for this. Akutars – Will be airdropped – Auditing contract to assure correctness – ETA: Sunday – Wait for the official Akutar OpenSea link.”
Before this report was published, an email submitted to AkuDreams’ PR requesting for comment went unanswered.