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Detail Analysis

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Date:

Status:

Count:

December 17, 2021

Verified

1

Contributor:

zerofriction.io

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KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

-

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Recovered Amount:

-

Currency:

Dollars

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

NFTs

Contract Vulnerabilities

Extended Method:

Contract manipulation, usage of sub contracts

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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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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.