adidas-162AdidasAdidas dropped their first NFT. The sale was capped at a max of 2 items per person and it sold out in less than a second. One person was able to purchase 330 in a single transaction using a custom smart contract. When executed - what it does is generate 165 sub smart contracts that would each individually mint 2 NFTs from the Adidas' smart contract, and then transfer them to the owner's main ETH address. This means that they'd need the price of the NFT to raise from Ξ0.2 (mint price) to Ξ0.28 to break even on the gas they spent. As the time of this writing, the price floor has skyrocketed to Ξ0.8 ETH. Netting them a theoretical profit of ~$600k.

Detail Analysis

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Adidas

Submit Incident Report

Date:

Status:

Count:

Contributor:

December 17, 2021

Verified

zerofriction.io

Loss Amount:

Recovered Amount:

Currency:

Dollars

KYC By:

Audit By:

None

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

NFTs

Contract Vulnerabilities

Extended Method:

Contract manipulation, usage of sub contracts

Data Sources:

https://mobile.twitter.com/montana_wong/status/1472023753865396227

Adidas dropped their first NFT. The sale was capped at a max of 2 items per person and it sold out in less than a second. One person was able to purchase 330 in a single transaction using a custom smart contract. When executed - what it does is generate 165 sub smart contracts that would each individually mint 2 NFTs from the Adidas' smart contract, and then transfer them to the owner's main ETH address. This means that they'd need the price of the NFT to raise from Ξ0.2 (mint price) to Ξ0.28 to break even on the gas they spent. As the time of this writing, the price floor has skyrocketed to Ξ0.8 ETH. Netting them a theoretical profit of ~$600k.

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