Artist Matt Free, creator of Pepe the Frog Meme, launched another NFT collection on June 17th. However, the deal was exploited on Thursday, when attackers mint thousands of NFTs and sold them, destroying floor prices for the collection.
The “Replicandy” collection went to 0.08 ETH ($210) until someone minted an additional 6,000 NFTs for $2 per token. These new mints quickly rose over 100 times, with fresh supply being dropped off in liquid bids on the NFT platform.
The exploit cratered the floor price of the replicandy from 0.08 ETH to 0.0025 ETH in just an hour.
Replicandy Floor Price Chart -Opensea
Furie has launched five different NFT collections. Most notably, the Hedz profile image collection trades for 1.16 ETH ($2,800) per NFT.
Despite previous success, this is not the first time that one of Fourley’s NFT collections has become unsettled. This was quickly pointed out by 0xquit, the VP of Yuga Labs’ blockchain.
Chain/Saw incubated Replicandy with Furie’s previous launch, the entity addressed the issue with X, “Replicandy was targeted and exploited by known parties. The contract was compromised and our team is actively pursuing all the right channels to address it.