{"id":3603,"date":"2022-04-23T16:39:24","date_gmt":"2022-04-23T16:39:24","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=3603"},"modified":"2022-04-23T16:39:24","modified_gmt":"2022-04-23T16:39:24","slug":"akudreams-faces-nightmare-as-team-locked-from-34m-takings","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3603","title":{"rendered":"AkuDreams Faces Nightmare as Team Locked From $34M Takings"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Share this article<\/p>\n<p>AkuDreams said it would prioritize refunding users after its shambolic launch.\u00a0<\/p>\n<h2>AkuDreams NFT Project Suffers Exploits<\/h2>\n<p>The much-hyped AkuDreams launch has turned into a nightmare for the team behind the project.\u00a0<\/p>\n<p>The highly-anticipated avatar collection went live with a Dutch Auction Friday, but it suffered a series of setbacks due to issues in the smart contract code. The auction opened at 3.5 Ethereum with the premise that the lowest bid would set the final price, and anyone who placed a higher bid would receive a refund. AkuDreams pass holders were also promised a 0.5 Ethereum discount on each NFT they minted.\u00a0<\/p>\n<p>Due to a bug in the contract, an exploiter was able to halt refunds and withdrawals from the contract, meaning auction participants who bid above the final NFT price could not receive the Ethereum they were owed. As a result, both refunds and withdrawals from the contract could not be processed. The crypto developers 0xInuarashi and foobar posted tweet storms explaining the exploit, which helped bring attention to the incident.\u00a0<\/p>\n<p>The attacker executed the exploit and then unblocked it after highlighting the issue in a series of on-chain messages, which meant that users could receive their refunds. \u201cWell, this was fun, had no intention of actually exploiting this lol. Otherwise I wouldn\u2019t have used coinbase. Once you guys publicly acknowledge that the exploit exists, I will remove the block immediately. \u2013 USER221\u201d one message read.\u00a0<\/p>\n<p>The AkuDreams team acknowledged the issue early Saturday, saying that the exploit \u201cwas not done out of malice\u201d and that it was looking into the incident. \u201cTo be clear this is our fault,\u201d the announcement added after the team promised it would return funds to the community. It later confirmed that the NFTs would be airdropped to bidders, and it would honor refunds for the pass holders who are owed a 0.5 Ethereum discount.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">Update:<\/p>\n<p>.5E Refunds for Pass Holders<br \/>\u2013 Will be honored<br \/>\u2013 ETA: Monday\/Tuesday<br \/>\u2013 Why? Bank opens Monday. Money from Chapter treasury will be used.<\/p>\n<p>Akutars<br \/>\u2013 Will be airdropped<br \/>\u2013 Auditing contract to ensure accuracy <br \/>\u2013 ETA: Sunday<\/p>\n<p>\u2013 Wait for the official Akutar OpenSea link<\/p>\n<p>\u2014 Aku :: Akutars (@AkuDreams) April 23, 2022<\/p>\n<p>While it looks like the team is making efforts to make sure the community is made whole, the team itself hasn\u2019t gotten off so lightly. Its takings, which amount to 11,539.5 Ethereum, are still locked inside the contract due to an additional exploit. That\u2019s about $34.2 million that\u2019s likely gone forever. <\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.\u00a0<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">Six Months Later, Coinbase NFT Is Live<\/h3>\n<p>\nThe largest U.S.-based crypto exchange Coinbase has released a limited-access beta version of its Web3 social marketplace for NFTs. Coinbase Drops Beta Version of NFT Marketplace OpenSea and LooksRare now&#8230; <\/p>\n<h3 class=\"title\">People Are Rushing to Pay $50,000 for Digital Owls<\/h3>\n<p>\nThe current floor price for a Moonbird is around 16 ETH.\u00a0 Moonbirds NFTs Soar Following Launch\u00a0 There\u2019s always at least one project causing a buzz in the NFT space.\u00a0 The&#8230; <\/p>\n<h3 class=\"title\">Amazon CEO Hints at Possible NFT Sales in the Future<\/h3>\n<p>\nIn an interview today, Andy Jassy, the CEO of Amazon, the world\u2019s largest online retailer, said he expects NFTs to continue growing and sees the company starting to sell them&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/akudreams-faces-nightmare-team-locked-from-34m-takings\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Share this article AkuDreams said it would prioritize refunding users after its shambolic launch.\u00a0 AkuDreams NFT Project Suffers Exploits The much-hyped AkuDreams launch has turned into a nightmare for the team behind the project.\u00a0 The highly-anticipated avatar collection went live with a Dutch Auction Friday, but it suffered a series of setbacks due to issues [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-3603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3603"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3603\/revisions"}],"predecessor-version":[{"id":3605,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3603\/revisions\/3605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3604"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}