Bug in the code and whitehat exploit both caused disaster for Akutars NFT project minting
Summary
AkuDreams launched its Akutars NFT mint process on April 22nd to much fanfare and excitement. Unfortunately for everyone involved, a poorly-written smart contract and an inescapable loop in the code resulted in heartache and lost money.
The highly-anticipated Akutars project from former MLB player turned full-time digital artist Micah Johnson has turned into a tale containing arrogance, naivety, justice and loss. But there’s a lesson to be learned from this harrowing story.
The Setup
The Akutars NFT project started its minting process on April 22nd at 4:30pm EST. Akudreams, the team behind the work, has built up a reputation for quality and innovation. Its legion of fans were ready and waiting with their ETH for the Dutch auction to get underway.
A Dutch auction starts at a high price and gets lower until someone pulls the trigger and pays an acceptable amount….
