Into the NFT Space - Hacked!

Now, I will talk about another project I'm following.

This is, again, an interesting project for me. Why? Because they're so mysterious. It's a free minting. They handpicked the whitelist candidates. Not all of them had a chance for minting. They airdropped the NFT to people based on their own criteria.

So of course for me, I am nowhere near the whitelist. I don't have that much time to follow the project closely, let alone make some contributions. So after they officially launched the NFT I sometimes checked OpenSea. I decided to buy one from the collection when the price was pretty low. That's how I became a holder.

Surprise, surprise!

Not long after I bought the NFT, they made an announcement that someone hacked them and minted 2000 NFTs. Quoting their official announcement :

"2000+ NFTs were minted by malicious actors who wanted to see us capitulate..." 

Along with the announcement, they also said they will resolve the issue in 24 hours.

And guess what? They did!

So they redeployed the contract and launched a new collection. Change all the image in old collection with picture of feet (literally, human feet). Airdropped the holder with NFT from new collection with the same token ID.

That's just...wow!

I mean I know how hard it is to manage a project. And this issue is quite big. But they mitigated the issue within 24 hours. I guess they sacrificed their sleep time that day. :(

That quick response shows the team really knows what they're doing or what they want to do. It also shows the team has a lot of experience in this space. That's a good sign.

But, is everyone happy with the solution? Of course no.

For me who bought the NFT before the incident it's only natural that I received the new NFT. But what about the people who bought after the incident? The team is still working on the solution for that case. And they know they cannot please everyone.

Well of course, they need to make a decision. Because people can try to gain benefit from this incident by playing victim, like buying the old collection (at the very very cheap price) after the incident with hope they will get new NFT airdropped to their wallet.

Interesting, isn't it?