Following the discovery of a problem with its whitelist, the National Basketball Association (NBA) halted production of its new NFT collection.
The collection contains a severe weakness, according to blockchain security firm BlockSec, which allows attackers to mint NFTs without paying any tokens.
The Association is a new Ethereum-based NFT collection themed on the NBA playoffs in 2022, which started minting on Wednesday. The tokens represent popular players from 16 clubs, and their look will alter based on how well they do in the playoffs.
The NBA announced on Twitter that minting on the collection had been halted due to issues with the whitelist, which had led the collection to sell out ahead of schedule.
Is it true that NBA NFTs employ erroneous signature verification?
The NFT contract, according to Blocksec, fails to verify that a signature can only be used once by a single user. As a result of the carelessness, attackers can use an actual user’s signature to generate tokens for themselves.
As a result of attackers exploiting the flaw, the NBA’s whitelist may have sold out prematurely.
The contract, according to the blockchain security firm, did not include any measures to ensure that a single approved signature could only be used once. It further stated that this level of security is “basic knowledge.”
The collection is a blind mint, which means that no one will know who will be minting until Friday. There are 18000 tokens accessible, with over 16,000 appearing to have been created.
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