Key Takeaways:
- Twitter User cryptel_chow has explained with an example of NBAxNFT that how this tool works.
Below is a quick overview of this project.
Nansen has described itself as a blockchain analytics platform that enriches on-chain data with millions of wallet labels. Crypto investors use Nansen to discover opportunities, perform due diligence and defend their portfolios with our real-time dashboards and alerts.
So, Firstly there was an issue with the smart contract of NBAxNFT, which caused the Allow List supply to sell out prematurely. NBAxNFT team has apologized for this situation and is currently identifying the Allow List wallets that were not able to mint.
So many people were unable to mint and lost their gas fees, while some were able to mint many. Below is the screenshot of some Twitter Users regarding this same issue.
According to Twitter User CaptainDefi.eth, When we call the mint_approved function, we tell the contract that we have an allowlist to mint the NFTs for free.
But the contract only checks if the whitelist code is valid, it’s not checking if we are the one whitelisted. So literally anyone is whitelisted to mint for free. And we can mint 10 NFTs per wallet, but the contract allows us to do it twice. So 20 per wallet for free.
So, Twitter User cryptel_chow Nansen Query NFT transfer table to find who benefited from the free mint. He ran a query to get a list of addresses that interacted with the zero address on April 20. As a result, we can see that multiple addresses were returned in the below screenshot.
Let’s look at 0x4e as an example to see what happened there. We can see that 0x4e initiated the transfer from 0x4e but not The Associate NFT Deployer with the value of 0 Ether.
So the next question is, what did 0x4e do with the NFTs? cryptel_chow has used the Nansen Query NFT’s sales table on 0x4e to see if any sales were made. He found that 0x4e sold his NFTs shortly after for about 15 ETH.
If our readers want to know more about how this tool works, they can visit Nansen ‘s Twitter Account, where readers can find multiple reports on different hacks by this tool.
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