NFT: An Army of Monkeys Could Have Invaded Ethereum - Bored Ape Yacht Club's Code Revised

NFT: An Army of Monkeys Could Have Invaded Ethereum – Bored Ape Yacht Club’s Code Revised

Stop antics! – Following the Discord server hack a few days ago Bored Ape Yacht Club (BAYC) holders suffered a loss of NFT worth 200 ETH. Yuga Labs has since fixed a vulnerability by removing some of the code that could have created an unlimited number of NFTs. If that had happened, the supply would have increased infinitely. Therefore, a hack would have resulted in considerable losses for investors.

The updated monkey code

The company had announced more than a year ago its desire to remove this part of the code. In fact, it contained a vulnerability that could have led to a potential hack. Because of this, countless new monkeys could have flooded the market.

Statement from Yuga Labs co-founder and developer EmperorTomatoKetchup – Source: Twitter

“The corresponding code in the contract has now been removed. While we had intended to do this for a long time, we did not do so out of an abundance of caution. I felt ready to do it now. That’s it. »

EmperorTomatoKetchup, co-founder and developer of Yuga Labs

Following his statement on Twitter, EmperorTomatoKetchup and another Yuga Labs co-founder known as Gargamel provided a link to the transaction. It can therefore be seen that the company has revoked the code June 7 at 7:07 p.m..

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The Bored Ape Yacht club are bored but not fast

The issue of removing this part of the code had already been raised in June 2021. NonFungibles CEO Dan Kelly pointed out then that according to the code of the Ethereum blockchain, it was possible for Yuga Labs, the company behind the popular NFT collection, to create as many macaques as they wanted. .

Bored Ape Yacht Club holders could have lost a lot if Yuga Labs had used some of the code to create as many NFTs as they want.

At the time, the official Twitter account of the collection responded without convincing the community. Sure enough, the tweet stated that Yuga Labs was obviously not going never run this code. He also planned to revoke the ability to use it a few days later.

However, on June 5, 2022, the affected lines were still present. An NFT developer known as foobar alerted the community. He stated that the problem was still present and that Yuga Labs had never revoked it.

Revoking this loophole could be a relief for ape holders. The project has also often been the target of phishing attacks. A few days ago, the project’s official Discord server has been hacked and 200 ETH ($357,000) worth of NFTs were stolen from users. This is at least the second time this has happened this year. Not long ago, the hack of the Instagram account of the famous NFT collection had also caused 2.8 million losses.

This story, as incredible as it was, will probably and against all expectations, have a happy ending. If the big dramas and the small adventures of the crypto ecosystem are exciting, they should not make you forget to put in place your personal strategy. Come acquire and trade your first bitcoins and other cryptocurrencies by registering on FTX. You will benefit from a lifetime discount on your transaction fees (affiliate link).

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