Cryptocurrency

"Investor Purchases 330 Adidas NFTs Using Smart Contract - 328 More Than the Cap"

2021-12-17 [vendor] Adidas Sybil attack [chain] ethereum
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

  1. 2021-12-17 Breach occurred
  2. 2021-12-17 Publicly disclosed