Cryptocurrency
"Investor Purchases 330 Adidas NFTs Using Smart Contract - 328 More Than the Cap"
Primary Source ↗Blockchain(s)
Ethereum
Incident Details
Anticipating that buyers would try to hoard items from a big-name NFT drop, Adidas decided to try to limit their NFT drop to two per buyer. They apparently didn’t realize that there is no guarantee that one address = one individual, and a crafty blockchain engineer created a smart contract that generated additional smart contracts, each with their own address. These contracts snapped up NFTs, then transferred them to the engineer’s primary wallet and self-destructed. The engineer was able to snag 330 NFTs.
Technical Details
- Vendor / Product
- Adidas Sybil attack
Timeline
- 2021-12-17 Breach occurred
- 2021-12-17 Publicly disclosed