Yuga Labs announced it removed a segment of the code underlying the Bored Ape Yacht Club that allowed the creation of an infinite amount of Bored Apes.
What Happened: Following its Discord servers being hacked four days ago, resulting in 200 Ethereum (CRYPTO: ETH) worth of NFTs stolen, Bored Ape Yacht Club fixed an exploitable vulnerability by removing a piece of code that, if hacked, could mint an unlimited number of Bored Ape Yacht Club NFTs. If that had happened, it would have effectively led to a major investor loss by infinitely expanding supply size.
According to The Block, Yuga Lab co-founders provided a timestamped link proving the transaction that dissolved the code. This vulnerability was initially revealed to the Bored Ape community in a tweet in June 2021. As of today (June 8), Yuga Labs has officially removed this hackable susceptibility from its code.
Why It’s Important: The Bored Ape Yacht Club community has fallen prey to three major phishing attacks in the past few months, causing hundreds of Ethererum to be stolen by hackers. Furthermore, algorithmic flaws have plagued numerous NFT projects, cryptocurrencies and Web3 communities, causing millions of dollars lost by investors.
Repairing vulnerabilities to the code allows Yuga Labs to protect Bored Ape Yacht Club holders from potentially suffering a major loss. As stated by Yuga Labs co-founder EmperorTomatoKetchup: “In lay terms: The issue flagged in this article is now impossible.”
