TL;DR
- Ubisoft and Reality Labs partnered to release Assassin’s Creed NFTs.
- LooksRare launched the NFT Raffle with the Bored Ape Yacht Club (BAYC) as the grand prize.
- The LALA NFT marketplace is set to drop a Wolf of Wall Street NFT.
- Mattel ventures into the NFT world with a Fast & Furious collectible.
Blockchain Hacks
Tornado Cash was exploited in a series of transactions, causing a loss of over $2.77 million. The hacker initially made a legitimate-looking proposal, which was effectively passed through the user votes. The exploiter then caused the contract to self-destruct, deployed a malicious contract at the same address, and then executed the code from the malicious contract. This allowed the attacker to secure 1.2 million votes through a malicious proposal. As this count exceeded the 700,000 valid votes, the attacker was able to take complete control of the DAO and drain the tokens held within the governance vault across multiple transactions. The exploiter has also washed away funds worth approximately 372 ETH via the Tornado Cash Router.
A bug in the Aave V2 contracts on the Polygon network temporarily impacted user assets worth approximately $110 million. The root cause of the vulnerability is that the v2 version used on Aave v2 contracts on Polygon was slightly different from Aave v2 used in Ethereum in regards to the interface used by the LendingPool to call the rate strategy of an asset. The new interest rate strategies applied to those assets respect the interface of Aave v2 Ethereum but not v2 Polygon. Thus, when the LendingPool queried the strategy for the current rate, the call reverted, and so did the action wrapping it. None of the users funds were at risk due to the incident. The Aave v2 Polygon is completely controlled via governance; thus, a cross-chain governance proposal was submitted, which will allow the issue to be fixed on May 23, 2023.
The project Swaprum on the Arbitrum One chain was identified as a rug pull. The deployer of the contract set up a new token contract implementation for the Swaprum token, allowing them to mint 200 million SAPR tokens. The scammer then used these SAPR tokens to drain multiple liquidity pools across multiple transactions and then transfer all funds to ether via Multichain, Across Protocol, and Celer Network, resulting in assets worth 1620 ether being laundered into Tornado Cash. The Twitter profile of the project was subsequently deleted.
The SatoshiSwap project suffered from an exit scam, causing a loss of approximately $300,000. On-chain data reveals that the scammer first gained access to the liquidity pool and then performed a rug pull, which resulted in a total liquidity drain of the protocol.
Metaverse, and NFTs
Ubisoft and Reality Labs joined forces to create a limited-edition Assassin’s Creed NFT on Polygon. Collectors can purchase the Assassin’s Creed Smart Collectibles, which depict the game characters enclosed in a clear cube. The assets are not just physical collectibles; the keepsakes also possess digital souls. Owners of the collectibles can get a 3D-printed replica of their NFTs that is housed in a transparent cube after choosing their preferred armor, clothing, and poses. Additionally, the cubes will have an NFC chip that will let owners tap the cube with a smartphone and view a digital representation of their character using a companion app. There are several levels of rarity for these NFTs. Rare NFT owners will also be able to sell their possessions on the secondary market.
LooksRare launched an NFT raffle in which users could purchase entries for 0.01 ETH or less. Users will only need a crypto wallet and enough ether to cover the entry fee and gas costs to win the grand raffle prizes, which include a Bored Ape Yacht Club (BAYC) NFT, other blue-chip NFTs like Azuki, and the LOOKS token. The raffles are conducted at random and are carried out using smart contracts, making the entire process transparent, inclusive, and fair. The raffle program will run for seven days, with one raffle round every day and a minimal fee collected on each round.
The LALA NFT marketplace is set to drop a Wolf of Wall Street collection on June 20. Each NFT offers a percentage of the blockbuster film’s revenue stream. Minters will benefit from exclusive digital and real-life perks in the long run. The marketplace joined forces with Paolo Torres, the Peruvian artist, for the inaugural digital collection. The journey of the collection for this film begins with the theme dubbed The Hustle. The first drop will feature three tiers for fans to choose from: General Release, Limited Edition, and the Director’s Cut.
Mattel, in collaboration with Cryptoys, is set to release Fast & Furious NFTs on the Flow blockchain starting May 22. The Hot Wheels NFT Garage x Fast & Furious NFTs showcase iconic cars from the movie, including Suki’s Honda S2000, Dominic Toretto’s 1970 Dodge Charger, and Brian O’Conner’s 1969 Camaro, for just $20 each. The initiative enables holders to own a physical object. The redeemable prizes come in the form of a tangible metal replica of a Suki car for those who acquire the entire set of digital assets.
OnChain Insurance Industry News
Neptune Mutual announced the launch of the NPM token and stated that the NPM/USDC pool was open for trading on the SushiSwap DEX on the Arbitrum One chain. Additionally, the Layerzero Bridge feature is now available for NPM token holders, allowing users to seamlessly transfer their tokens between the Ethereum and Arbitrum networks. Furthermore, they also stated that their marketplace has been integrated with the BitKeep wallet.
Bumper Finance announced the launch of the Bumper DAO governance model, allowing their token holders to raise and vote on improvement proposals for the Bumper protocol.