$34 million tied up in the AkuDreams contract. Users will soon be refunded.
On April 22nd, AkuDreams The Akutars NFT collection has launched, but users who participated in the Dutch auction and didn’t emerge as winners have reported issues with reclaiming their ETH.
Due to some errors made by the developers, a total of 11.539 ETH, which is about $34 million, has become inaccessible for both users and developers alike.
Details surrounding the incident were shared in a discussion with 0xInuarashi, the founder of Gangster All Star, Martians NFT, CypherLabz, and the council overseeing Anonymice NFTs, ZenApe NFT, and ShuffleDao. Twitter thread The contract was structured in a way that each bid during the Dutch auction counted as 1. With a total of 5,495 bids made, the bid index only reached 3,669. This disparity signifies that total bids exceeded the refund progress, creating a scenario where project funds can't be accessed, leaving refunds in a state of uncertainty.
Developers of the NFT project have successfully 'rescued' the funds from the problematic contract and are in the process of returning them to the community. Anonymous developers, MouseDev and NftDoyler, provided further insights into the vulnerabilities of the AkuDreams contract and its operational failures.
Fortunately, Anonymice Currently, the AkuDreams team has released several updates: rescue Quick Update (more details will follow soon):
1. The exploit within the contract was not intended for harm; the individual aimed to highlight the importance of best practices for prominent projects and new mechanisms. They quickly rectified the exploit once we investigated and accepted responsibility.
– The contract is undergoing an audit to guarantee precision.
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- Valeria, a reporter for Metaverse Post, specializes in fundraising, artificial intelligence, the metaverse, digital fashion, NFTs, and all things web3-related.
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In line with the Trust Project guidelines Valeria holds a Master's degree in Public Communications and is currently pursuing a second Major in International Business Management. In her spare time, she enjoys photography and fashion styling. At just 13, she launched her first blog focused on fashion, which ignited her passion for both journalism and style.
