Artist Matt Furie, the maker of the Pepe The Frog Meme, launched an NFT collection on 17 June. However, the contract was operated on Thursday, allowing the attacker to sell thousands of NFTs and thousands of NFTs, so that the floor price of the collection was destroyed.
The ‘Replicandy’ collection traded as high as 0.08 ETH ($ 210) until someone minted an extra 6000 NFTS at $ 2 per token. These new peppermints were immediately more than 100 times up and the fresh stock was unloaded in liquid bids on NFT platforms.
The exploit resulted in the replicandy floor price received 97% from 0.08 ETH to 0.0025 ETH in just one hour.
Replicandy Floor Price Card – OpenSea
Furie has launched five different NFT collections, the most striking is the HEDZ professional motor collection, which trades at 1.16 ETH ($ 2,800) per NFT.
Despite earlier successes, this is not the first time that one of Furie’s NFT collections went wrong, that 0xquit, the VP of Blockchain at Yuga Labs, was quickly on it.
Chain/Saw, the entity that incubated the earlier launches of Furie, as well as Replicandy, has tackled the issue on X and said: “Replicandy was the target and exploited by a well -known party. The contract was compromised, and our team strives actively after all the correct channels to tackle it quickly.”