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Rug Pull Finder Service Is Exploited by Phishing Scammers

Rug Pull Finder, the business concentrating on identifying and reporting fraud in the Web3 world, has found itself at the biggest market of an NFT exploit. The most recent Rug Pull Finder NFT project CRIMINALS (together with Doxxed Media) was exploited through the free mint stage because of technical flaw. Two users were able to mint 450 NFTs rather than the allocated one per wallet. This caused significant issues, and today, an enormous apology from the RPL team.

Rug Pull FInder logo
The NFT collection CRIMINALS by Rug Pull Finder had a significant exploit.

So, what goes on next for the Web3 company that delivers home elevators new projects, NFT safety, and blockchain education?

Rup Pull Finders new NFT project has technical issues

The news headlines about Rug Pull Finders issues with their CRIMINALS NFT project first found light through the mint on Friday. Among the first to report on the problem was the on-chain analyst, @NFTherder, who works in Discord security and NFT audits.

NFTherder wrote, RugPullFinders nft contract was abused to mint 400 NFTs rather than 1 per wallet. That is cause the mint function is missing the mandatory checks. Security checks, gas optimizations also missing Not just a hack or technically an exploit contract allowed it but unethical still.

The news headlines spread quickly, and following a Twitter spaces by the Rug Pull Finder team, more info found light. Of the 1221 free-to-mint CRIMINALS NFTs, 450 (almost half) were minted by two different users.

How did this eventually the Rug Pull Finder NFT drop?

After discovering this exploit, the team moved quickly to rectify the problem. Surprisingly, the exploit was possible as the mint contract was missing vital security checks or had overlooked specific issues during any contract audits.

In another twist to the story, @Rugpullfinder shared the news headlines they received information regarding a possible exploit prior to the mint went live.

However, ultimately, they pushed ahead with the drop regardless. They said, An exploit was distributed to us 30 minutes before mint went live. After reviewing it with three different dev teams, we didn’t believe the credibility of the info delivered to us We were clearly wrong, and we have been truly truly sorry.

image of Bad Guys NFT character with hat and whip by Rug Pull Finder
Over 400 of the Rug Pull Finder CRIMINALS NFTs were minted by 2 users.

Fixing the problem

The Rug Pull Finder team has been transparent concerning the technical issues through the NFT mint on both Twitter and Discord. After finding among the individuals who minted 400 CRIMINALS NFTs, they wanted to repurchase the NFTs.

In a note via Discord, Rug Pull Finder told its members, As stated, we made the difficult decision to cover a 2.5ETH bounty to the individual(s) who have been in a position to mint 400 of the NFTs, securing the 330 of these remaining NFTs. We thought this much better than them continuing to undercut the ground and seeing a residential area disappointed they might not mint or participate.

Giving back again to the Rug Pull Finder community

Basically, that they had to cover 2.5 ETH for 330 of the 400 NFTs they originally minted. After seeing the Rug Pull Finder community, they will have plans to distribute these NFTs.

  • 10 CRIMINALS raffled off on Twitter Spaces
  • 17 CRIMINALS put into the CRIMINALS Vault.
  • 203 CRIMINALS Raffled off to the RugPull Finder market wallet collection list
  • 100 CRIMINALS right into a raffle for projects which are friends of RugPull Finder.

Finally, now the Rug Pull Finder team has addressed the mint issue, they’ll want to move ahead and continue making use of their wider project.

However, several people in the NFT community have raised concerns about how exactly this incident happened. Specifically, because Rug Pull Finder aims to teach the wider web3 world about NFT security.

All investment/financial opinions expressed by aren’t recommendations.

This short article is educational material.

As always, make your personal research before making any type of investment.

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