AkashaLife/AK1111 Free Public Minting Vulnerability

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AkashaLife Logo/Homepage

AkashaLife is a token with a spritiual theme, celebrating the interconnectedness of humanity, named after Akasha, the first element of the universe. Unfortunately, the smart contract contained a vulnerability where one of the minting functions was able to be publicly called. This was exploited and $32k worth of funds were taken. It is unclear what actions, if any, the project has planned for affected users.

About AkashaLife

"Akasha is considered to be the first element created during the cosmic evolution and is believed to contain the knowledge of the universe.

In decentralized ecosystems, a cryptocurrency coin powers transactions, enabling value transfers and incentivizing participation. Through smart contracts, it automates processes, ensures transparency, and rewards contributors, fostering community engagement. 



As the backbone of the ecosystem, it enhances efficiency, creates economic opportunities, and drives innovation and growth in the digital landscape."

"The Akasha Project draws a parallel between the creation of the universe, as depicted in Genesis, and the development of technology, emphasizing interconnectedness and purpose. Just as God created the cosmos, Akasha aims to create a unified digital ecosystem. The project is built on the concept of a universal life force, known as Akasha, which is akin to the Holy Spirit and other spiritual energies. Akasha technology functions as an invisible, seamless layer connecting Web1, Web2, Web3, and traditional systems, making digital interactions feel as natural as breathing. The project’s vision extends beyond blockchain, aiming to unify all aspects of life and commerce, eliminating barriers between traditional finance and decentralized systems. Over six years, with 60 senior developers, the technology has evolved to offer effortless interoperability and accessibility for all users. The roadmap focuses on global adoption, aiming to generate $300 million in liquidity and bring thousands of new wallets into the ecosystem, creating a truly interconnected world where finance and technology merge seamlessly."

The Reality

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• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

"The Akashalife (AK1111) on BSC was suspected to have been attacked, resulting in a loss of approximately $31.5K."

Key Event Timeline - AkashaLife/AK1111 Free Public Minting Vulnerability

Date	Event	Description
November 23rd, 2024 9:40:53 PM MST	Suspected Attack Transaction	The suspected attack transaction on the Binance Smart Chain.
November 23rd, 2024 10:23:00 PM MST	TenArmorAlert Posting Tweet	TenArmorAlert posts about the Akashalife with a detailed breakdown of the exploit.

Technical Details

"The root cause seems to be a lack of access control for function nonblockingLzReceive1(), anyone call it to mint token for free, maybe it is not supposed to be open to public in the first place."

Total Amount Lost

"an approximately loss of $31.5K."

The total amount lost has been estimated at $32,000 USD.

Immediate Reactions

"Our system has detected a suspicious attack involving #AK1111 on #BSC, resulting in an approximately loss of $31.5K."

"The Akashalife (AK1111) on BSC was suspected to have been attacked, resulting in a loss of approximately $31.5K."

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.