Rug Pull Finder, a company focused on detecting and reporting fraud in the Web3 world, has found itself at the center of NFT exploitation. The recent Rug Pull Finder NFT project by Bad Guys (in partnership with Doxxed Media) has been exploited due to a technical flaw at the free mint level. Two users were able to withdraw 450 NFT more than their wallet allocation. This caused significant issues, and now, a huge apology from the RPL team.
So, what’s next for Web3, a company that provides information on innovative projects, NFT security and blockchain education?
Rup Pull Finder’s new NFT project has technical issues
News of Rug Pull Finder’s problems with their Bad Guys NFT project first broke on Friday during Mint. One of the first to report the situation was on-chain analyst @NFTherder who works in Discord security and NFT auditing.
NFTherder wrote, “The RugPullFinder nft contract was abused to generate 400 NFTs per wallet instead of 1. This is because the mint function is missing the necessary checks. Security checks, gas optimizations are also missing It’s not hacking or technical exploitation – contract allowed but still unethical.
The news spread quickly, and after Twitter spaces by the Rug Pool search team, more information came to light. Of the 1221 free-to-mint Bad Guy NFTs, 450 (almost half) were mined by two different users.
How did this happen on the Rug Pull Finder NFT drop?
After discovering this exploit, the team moved quickly to fix the situation. Interestingly, the exploit may have occurred because the Mint contract lacked critical security checks or overlooked certain issues during any contract audit.
Another twist to the story, @Rugpullfinder shared the news that they received information about a potential exploit before it went live from Mint.
However, in the end, they pushed the drop forward regardless. They said, “The exploit was shared with us 30 minutes before Mint went live. After reviewing with three different dev teams, we don’t trust the credibility of the information that was sent to us…we were clearly wrong, and we are truly sorry.
Fixing the issue
The Rug Pull Finder team has been open about technical issues during the NFT mint on both Twitter and Discord. 400 Bad Guys After finding one of the people who made the NFT, they offered to buy the NFTs again.
In a message via Discord, Rogue Pool Finder told its members, “As noted, we’ve made the difficult decision to pay a 2.5ETH bonus to the person(s) who managed to mine 400 NFTs, confirming the remaining 330. We thought so.
Back to the Rug Pull Finder community
Basically they had to pay 2.5 ETH for 330 of the 400 NFT they originally created. After consulting with the Rug Pull Finder community, they plan to distribute these NFTs.
- 10 Bad Guys Crashing On Twitter Spaces.
- 17 Bad Guys added to the ‘Bad Guys Vault’.
- 203 bad guys went to the RugPull Finder public sale wallet collection list
- 100 RugPull Finder friends to raffle 100 bad guys for projects.
Finally, now that the Rugged Pool team has looked into the mint issue, they want to move forward and continue with their broader project.
However, several people in the NFT community have raised concerns about how this incident occurred. Especially since Rug Pull Finder aims to educate the wider web3 world about NFT security.
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