Weekly Report (May-15, 2023)


  • The BBC is set to make its foray into web3 with Doctor Who NFTs.
  • The Voice has launched a fan platform on Decentraland.
  • Renault is set to debut racing-inspired sneakers with digital NFT twins.
  • Barbie and Boss Beauties have announced a joint NFT project.

Blockchain Hacks

A series of rug-pulls involving multiple meme coins were detected by PeckShield. A scammer funded 2.76 ETH from Orbiter Finance Bridge and then added 2 ETH of liquidity before swapping 4,999 trillion HAKUNA tokens for 17 ETH, worth approximately $31,683. The price of the HAKUNA token dropped by 100% following the exploit. In another case, a scammer funded 2.76 ETH from Orbiter Finance Bridge and then added 2 ETH of liquidity before swapping 4,999 trillion HIS tokens for 13 ETH, worth $24,568. The price of the HIS token dropped by 100% following the exploit. Additionally, for the DMAN token, the scammer funded 4 ETH from Binance and then added 3 ETH of liquidity before swapping 1,200 trillion DMAN tokens for 48.55 ETH, worth approximately $89,611. The price of the DMAN token dropped by 100% following the exploit.

The Snooker’s Project SNK token on the BNB Chain was exploited due to a flawed invitation-reward mechanism, resulting in a loss of approximately $197,725. Prior to the attack, the exploiter created multiple attack contracts and deposited 10 SNK into each of them. They then created a sub-contract and established an invitation relationship with the parent contract. The attacker is able to exploit the bindParent function of the SNKMiner contract in order to amplify their staking rewards, i.e., SNK tokens. This function binds one account as a child of the staking account. The attacker sends the tokens to the next child contract, repeats the same for his arbitrage opportunity, and takes away a large amount of profits. We have highlighted the detailed analysis of the exploit in this blog post.

The LW token was exploited on the PancakeSwap pair of LW-BUSD, resulting in a loss of approximately $48,000. The malicious actor had deployed the attack contract hours before the token was exploited, and utilized a flashswap to conduct this attack. Following the attack, the price of the token dropped by more than 80%, and the exploiter has already transferred the stolen funds worth 150 BNB into Tornado Cash.

The SELLC token of the SellToken project was exploited in the BNB chain due to price manipulation caused by the flawed calculation of their token price. The exploiter took a flash loan of roughly 1902 WBNB from multiple providers and exchanged 400 WBNB for 4,975,497 SELLC tokens on PancakeSwap. They then used approximately 13.37 BNB to short SELLC tokens and later swapped 4,975,497 SELLC tokens for 408 WBNB on PancakeSwap. The profit from this shorting was 39.28 WBNB, which were withdrawn from SellToken’s contracts, after which the remaining balances were used to repay the borrowed amount of the flash loan. The attacker made a profit of approximately 279 BNB, or roughly $87,000, from the exploit.

Metaverse, and NFTs

The BBC has recently filed a trademark application for the iconic Doctor Who logo, indicating its foray into the Web3 world. The United States Patent and Trademark Office (USPTO) received a trademark application indicating their intent to explore the possibility of offering Doctor Who NFTs as well as entering the world of the metaverse with virtual reality software and wearable digital devices. The science TV show Doctor Who chronicles the adventures of a time-travelling alien named the Doctor, who explores the universe in Travis, the time machine. Additionally, with this new development, Doctor Who fans can anticipate a completely new era of fandom.

The Voice has launched an interactive platform dubbed The Voice Studios to further explore the metaverse. It will be free for everyone to access and use on the Vegas City entertainment hub of the metaverse platform Decentraland and offer fans new experiences, including participating in battles, flaunting dance routines, creating music, flaunting dance moves, and auditioning for upcoming seasons. In a specially created NBC metaverse fan zone, fans will be able to find out ways to audition for the series. They will also be eligible to win limited-edition virtual apparel. The platform will launch with five interactive experiences, including Musical Treasure Hunt, Dance Off, Music Maker, Rhythm Challenge, and a Music Trivia game.

Renault is set to celebrate its 50th anniversary by launching yet another NFT collection called the Racing Shoe5 series, which consists of 960 NFTs. Each one of these digital collectibles will be linked to a limited-edition physical sneaker. Five specially created themes will honour several flagship R5 Turbo versions. The sixth design will also pay tribute to the R5 Turbo 3E, jointly developed with the R3NLT Web3 community. The actual sneakers will also have distinctive cues from the R5 Turbo series, including a rear slope reminiscent of the car’s chassis, interiors with upholstery-inspired details, and laces that resemble seatbelts. Early access to the drop will be available to R3NLT Web3 community members starting on May 15, and pre-registration access will be available starting on May 16. The public auction will then start on May 17 on the Renault NFT website.

Mattel, the Barbie maker, has collaborated with Boss Beauties to release a range of on-chain virtual collectibles honouring the various professions that the iconic toy brand has pursued over the years. The collection includes NFTs created in the brand’s distinctive aesthetic as a tribute to Barbie’s 250 careers. The initial drop will include characters such as astronauts, doctors, pilots, CEOs, artists, veterinarians, and more. The official launch of these assets will take place at Veccon on May 18. The collectibles, which live on Flow, will go for $25 for a set of four.

OnChain Insurance Industry News

Bumper Finance announced that the Bumper protocol mainnet will launch on August 1, 2023, on the Ethereum blockchain.