Smart Contract Mishap Locks Up $34M Of ETH For NFT Project – Cryptovibes.com – Daily Cryptocurrency and FX News

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A nonfungible token project known as AkuDreams was recently hit by a massive exploit via its refundable Dutch auction on April 22 in which the hacker did not profit. However, the project’s smart contract was subsequently locked with a staggering $34 million of funds.

Crypto developer Foobar posted the code that showed:

“$34 million, or 11,539 eth, is permanently locked into the AkuDreams contract forever. It cannot be retrieved by individual users or by the dev team.”

The Twitter account for AkuDreams, Aku::Akutars, noted the exploit and said:

“We are locked down and consulting with some of the best on the next steps. We will mint your NFTs, and reveal them as soon as humanly possible. We will also be working to issue funds for those passholders who bid with the intention of securing a price .5 ETH below the final price.”

It was followed several hours later with a tweeted update saying:

“.5E Refunds for Pass Holders – Will be honored – ETA: Monday/Tuesday – Why? Bank opens Monday. Money from Chapter treasury will be used. Akutars – Will be airdropped – Auditing contract to ensure accuracy – ETA: Sunday – Wait for the official Akutar OpenSea link.”

The team at AkuDreams is striving relentlessly to resolve the issue.



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