The reason for the loss is in the error of the AkuDreams team. Over 11,539 ETH (~$33.93M) is now permanently locked in the smart contract.
$34 million, or 11,539 eth, is permanently locked into the AkuDreams contract forever. It cannot be retrieved by individual users or by the dev team.
The refund processing, which is complete, sets each bid status to 1. pic.twitter.com/6GnQPnddC6
— foobar (@0xfoobar) April 23, 2022
“$34 million, or 11,539 ETH, is permanently locked in smart contract AkuDreams. They cannot be extracted by individual users or the project team, ”said the developer under the nickname 0xfoobar.
After the auction, the losing participants were supposed to get their ETH back, but due to an error in the contract logic, they cannot use the emergencyWithdraw () function, which performs the withdrawal.
0xfoobar also reported that the project team has no way to withdraw assets “due to incorrect increment math.”
error information confirmed the AkuDreams team and stressed that the incident occurred due to a “non-malicious exploit”.
2/ Let’s take a look at an overview.
People took bids. It stored their data. Then, they were eligible for refunds.
By calling processRefunds(), a loop is made according to a refundProgress counter which then does the refund. pic.twitter.com/btZUCYeOVd
— 0xInuarashi (@0xInuarashi) April 23, 2022
All users will receive compensation of funds (0.5 ETH for each victim). About it declared AkuDreams developers. The refund will be made on Monday or Tuesday – for this, the reserve of the project treasury will be used.