The increasing popularity of NFTs has led Turkish artists to this field as well.
The pre-sale and public main sale of Fluffy Polar Bears NFTs, owned and drawn by Selçuk Erdem, one of Turkey’s most famous cartoonists, took place yesterday.
However, some problems during the sale caused the reaction of the investors.
Investors Competed With Bots!
Many investors eagerly awaiting this day could not mint NFT due to a gap in the contract and bots exploiting this gap. Quickly minting NFTs via bots in a short time caused NFTs to be depleted in 5 seconds.
Making a statement on the subject, the founding partner of the project, Alemşah Öztürk, stated that the launch did not go as planned due to technical difficulties. Expressing that some vulnerabilities are exploited and therefore normal users have difficulty in accessing NFTs, Öztürk stated that this is due to the fact that they do not set a maximum limit per buyer.
Stating that this is a choice for them and they use this choice to allow people to buy as much as they want, Öztürk said that they are sorry that the majority of people cannot buy.
We are aware that our launch was not smooth as we planned due to technical challenges. Presale list exploited, we stopped and specifically assigned each sketch to rest of the presale list one by one onto opensea. (1/3) @polarbearsnft
— Alemsah “NFT” Ozturk (@alemsah) October 25, 2021
Many investors faced a gas fee of up to $18,000 when NFTs ran out due to NFTs being mined in 5 seconds by bots. However, the reason for such high fees is the exhaustion of NFTs.
At this point, while investors competing with bots to mint their Fluffy Polar Bears NFTs failed, they reacted to the project because the necessary precautions were not taken.
Auditor Warns!
Despite the fact that the independent auditor supervising the project wrote in his report that all NFTs can be minted by means of an external smart contract, since it is open in the smart contracts of the project, the fact that no action was taken caused the reactions to grow.
It was seen that some accounts received 280 NFTs.
.@polarbearsnft We competed with the programmed codes to buy as soon as the mint opened, so we couldn’t get it 🙂
For example, this contract was able to buy 280 NFTs in total.
It was able to perform 14 Mint operations in batches of 20. https://t.co/v6LkPWrrI7
— DeFi Library (@LibraryDefi) October 25, 2021