ChainSaw NFT Replicandy Peplicator HEDZ ZOGZ Rug Pull

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ChainSaw Logo/Homepage

About ChainSaw NFT

Chain/Saw is a platform designed to foster innovation and experimentation in the evolving world of digital art, particularly through NFTs. It serves as both a creative space and a marketplace, encouraging artists and collectors to explore and shape a new digital art paradigm. At its core, Chain/Saw aims to question and redefine the possibilities of blockchain-based art.

Founded by Frank Musarra—an artist, musician, and creative technologist—Chain/Saw emerged from dialogues with peers interested in the NFT space yet uncertain about its long-term impact. These discussions inspired the creation of a space that not only showcases visionary digital projects but also stimulates critical thinking about the role of NFTs in the broader art ecosystem.

Chain/Saw is committed to curating projects that challenge traditional conceptions of art, engaging a community that includes not only creators and collectors but also those curious about the future of artistic expression. In doing so, it positions itself at the intersection of technology and culture, seeking to influence the trajectory of digital art and its reception in both new and established art worlds.

About Replicandy

Replicandy is a generative art project created by Matt Furie, the artist behind Pepe the Frog. As the follow-up to his earlier project Peplicator, Replicandy invites participants into a playful and creative minting experience centered around unique, one-of-a-kind digital characters called “Andys.”

During a limited 24-hour window—from June 17 at 4:20 PM PST to June 18 at 4:20 PM PST—users can mint as many unique Andys as they like. Each Andy NFT is a 1/1, offering a wide variety of visual styles and emotional expressions, from raw and chaotic to sleek, sad, or silly. The collection size is capped after the minting period ends, making it a finite and exclusive drop.

Replicandy encourages exploration and customization through its “respin” feature, allowing users to generate endless variations until they find the version they love most. The project blends humor, spontaneity, and digital art in a way that reflects Furie’s distinct aesthetic and quirky sensibility.

The Reality

ChainSaw NFT accidentally hired a worker from North Korea, who was placed in a position of trust managing the NFT launches.

What Happened

ChainSaw NFT projects Replicandy, Peplicator, HEDZ, and ZOGZ were repeatedly minted by an insider and dumped on the market.

Key Event Timeline - ChainSaw NFT Replicandy Peplicator HEDZ ZOGZ Rug Pull

Date	Event	Description
June 17th, 2025 6:20:00 PM MDT	Replicandy Mint Opens Officially	Minting is opened for Replicandy, which is a 24 hour open mint where anyone can mint repeatedly.
June 17th, 2025 10:25:00 PM MDT	Replicandy Ownership Address Transferred	The ownership for the Replicandy smart contract was transferred to a new 0x9fca address.
June 18th, 2025 12:20:00 PM MDT	Replicandy Mint Proceeds Withdrawn	Mint proceeds from the contract are withdrawn.
June 18th, 2025 6:20:00 PM MDT	Replicandy Mint Pauses Officially	Minting is paused/closed, which is supposed to lock the Replicandy mint size to a set maximum.
June 18th, 2025 11:11:00 PM MDT	Mint Unpaused Massive Bid Selling	Minting is unpaused, new NFTs start to be minted, and those new NFTs are sold into existing bids. This causes the floor price to drop to 0 as all bids are filled.
June 27th, 2025 8:02:00 AM MDT	ZachXBT Analysis Published	ZachXBT posts an analysis of the exploit, revealing ties to Favrr's CTO, Alex Hong, who has a suspicious background and is suspected to be one of two North Korean IT workers (DPRK ITWs) hired by the project. His LinkedIn was recently deleted, and previous work history could not be verified. ZachXBT also plans to release data on the extent of payments made to DPRK IT workers across both crypto projects, highlighting a broader issue of teams failing to perform basic due diligence in hiring.

Technical Details

Peplicator and Replicandy were both 24-hour generative NFT minting events created by Matt Furie, leveraging smart contract technology to create unique, 1-of-1 digital collectibles. Technically, both projects operated on a system that allowed users to generate (“respin”) randomized artwork combinations—built from pre-designed visual layers—until they found a version they wanted to mint. Each final minted NFT was recorded on-chain as a unique asset.

The minting contracts were coded to remain open only during a strict 24-hour window—Peplicator from March 8–9 and Replicandy from June 17–18. Once this window closed, minting was permanently disabled and the collection supply was locked forever. This time-bound mechanic ensured scarcity and exclusivity, a common practice in generative art drops to maintain long-term value.

The “respin” function was likely implemented client-side, allowing for infinite previews generated from randomized layer combinations before committing to an on-chain mint. When a user chose to mint, the specific configuration of visual traits was locked in and stored on-chain or via metadata (typically IPFS or similar decentralized storage), assigning it a unique token ID. This blend of randomness, user interaction, and strict temporal limits made both projects technically simple yet effective in creating engaging, collectible NFT experiences.

Total Amount Lost

ZachXBT estimated a $1m loss across all NFT projects.

"Fortunately, Rarepepes and PEGZ are on older, separate deployments and don't seem to have been affected."

The total amount lost is unknown.

Immediate Reactions

Republicandy originally posted an update on Twitter/X:

"Republicandy was targeted and exploited by a known party. The contract was compromised, and our team is actively pursuing all appropriate channels to address it. We appreciate your patience and will share more soon."

Ultimate Outcome

The post on Twitter/X was reportedly deleted. The Discord was reportedly closed.

Total Amount Recovered

A variety of possible solutions could be done, such as launching a new smart contract ChainSaw NFTs appears to be largely silent on a pan for compensating users.

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

Ongoing Developments

There is limited communication from ChainSaw NFT. An investigation is likely happening behind the scenes.

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.