|
|
Edited by Kamal531 at 21-12-2023 02:10 PM
Anyone who follows Adidas Originals knows about its collaboration with Gmonkey, PUNKS Comic, and the Bored Ape Yacht Club for NFT sales. This collaboration has attracted a large number of fans and NFT collectors. However, the plan faced issues during the early access phase, causing many buyers to lose Ethereum Gas fees and sparking controversy.
A blockchain engineer and the founder of the software development studio Sprise, Montana Wong, tweeted on the day of the sale that someone had bypassed the project's limit of only allowing two NFTs to be minted per Ethereum wallet address. Exploiting this loophole using a custom smart contract, the user successfully obtained up to 330 Adidas NFTs. The user had deployed a custom smart contract several hours earlier, and during execution, the contract generated 165 child contracts. After minting two NFTs each, these child contracts then transferred the NFTs to the owner's main ETH address. Once the NFTs were sent to the creator's main address, the child smart contracts would self-destruct. In this way, the user managed to grab 330 Adidas NFTs. The price of these 330 NFTs was at least 244 ETH (close to $988,057), and the owner incurred a cost of 93.3 ETH (close to $377,900) for minting and transferring the 330 NFTs. It seems the user has made a profit of almost $600,000.
One has to admire the ingenuity of this individual to exploit such a loophole and profit effortlessly to such an extent. It's impressive how knowledge and creativity can be powerful tools. What are your thoughts on NFTs?
|
|
Post time 28-11-2023 12:55:09