$181 000 USD

MAY 2024

GLOBAL

METADRAGON

DESCRIPTION OF EVENTS

"Welcome to MetaDragon! We are Lord of MetaDragon, Let’s Collect, Hatch, Battle, Compete and Auction NFTs Together"

 

"MetaDragon protocol is known for its novel approach to Play-to-Earn (P2E) gaming. Which integrates elements such as NFT trading, gaming, and financial incentives. The platform uses the NFT111 protocol to enhance liquidity and stability within its ecosystem. And this not only affects the financial stability of MetaDragon but also the trust within the community and potential investors."

 

"The META project was initiated in 2022 and has undergone over two years of development and construction. Many people, including technical and community members, have been involved. As a web3 startup team, the developers have invested a significant amount of funds and endured a lengthy development process, with long-term support and companionship from the META community."

 

"Our system has detected a series of attack transactions targeting @MetaDragonDao's contract on #BSC, resulting in a loss of $180K. We have DMed the project but have not received a reply yet.

 

It appears the exploit cannot continue as the corresponding P404NFT tokens (0x336a) have been burnt. Please take action ASAP and avoid minting more of these tokens!"

 

"The attacker address is: 0xc468D9A3a5557BfF457586438c130E3AFbeC2ff9"

 

"The attacker address is: 0xc468D9A3a5557BfF457586438c130E3AFbeC2ff9"

 

"According to the SlowMist security team, potential suspicious activity has been detected in the GameFi protocol MetaDragon, and users are advised to remain vigilant. MetaDragon stated that users need to convert their META NFTs into tokens as soon as possible to minimize community losses."

 

"It is with a heavy heart that we inform you of an unfortunate thing: our META NFTs have just suffered a hacker attack, resulting in the loss of all NFTs in our community. We are making every effort to take urgent measures and our current approach is as follows:

 

1. Conduct an urgent review of the security issues in the NFT contract and identify the hacking path. 2. Track the hacker and strive to recover the stolen funds. 3. Collect specific data on the affected wallet addresses.

 

We will maintain transparency and share the progress of this situation with the community. We deeply apologize to all community members for this hacking incident. We are shocked and saddened by this event, and we will handle it actively!"

 

"CAUTION: Please convert your META NFTs to tokens as soon as possible to reduce community losses!" "The META NFT contract has just been hacked. The hacker converted many NFTs in wallets to META tokens and sold them. The attack path originated from the META NFT."

 

"The recent hacking incident has brought about many issues, and we will actively communicate and address them!

 

Firstly, we would like to remind you that the NFT contract remains insecure. Please refrain from minting NFTs.

 

After preliminary assessment and communication, over 4000 NFTs were compromised in this hacking incident. After deducting portions allocated to the META fund and marketing, community members have incurred losses of approximately 2400 NFTs. Additionally, there have been losses incurred by some investors and liquidity providers, resulting in a significant overall impact.

 

Through communication, we have obtained understanding from some partners and major holders. In times of crisis, some members have expressed their willingness to postpone their claims, prioritizing the compensation of other members. We deeply appreciate this gesture!

 

Yesterday, META's price was approximately $0.012. We plan to compensate each NFT at a rate of "10,000 META + 0.15 BNB", resulting in a total compensation amount of approximately 24 million META + 360 BNB.

 

The compensation amount is relatively big, and it will take some time to raise the necessary funds. We will begin the compensation process gradually starting today.

 

If you have already filled out the registration form, we will verify and compensate accordingly, providing updates on the progress simultaneously."

 

"Recently, $META contract was hacked, and we deeply apologize for the inconvenience caused! We are very grateful for the understanding shown by some of our partners and major stakeholders! Note: Currently, the NFT contract still has security vulnerabilities. Please do not mint NFTs."

 

"In the face of this severe setback, we are actively communicating and handling the situation. The arrangements for the near future are as follows:

 

1. Second MWars season will start on June 4 and will last for 15 days. Season rewards and daily rewards will follow the arrangements of the first season. 2. After second season ends, MWars will cease operations and enter technical maintenance. 3. Top 200 players of the second season will receive an additional airdrop of $META, amounting to 20 times the season rewards.

 

In the future, the team will focus on building around ColletFi gameplay, seeking strong investors to collaborate and develop META and ColletFi.

 

We deeply appreciate your supports, and cooperation!"

MetaDragon is an online play to earn game. The MetaDragon smart contract was released without an ownership check on the NFTs which were minted. This allowed anyone to claim and sell the NFTs of other users. Over 4,000 NFTs were stolen through this lack of check. The team has reportedly compensated all users who were affected.

Sources And Further Reading

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