The National Basketball Association (NBA) immediately stopped forging its new NFT – Association collection, after it was revealed that there could be a problem with its white list.
However, the NBA responded to the threat through a tweet, claiming to have paused forging in the collection. The sports body also highlighted problems with the white list, which is why the collection sold out faster than expected.
We apologize for this situation and are currently identifying wallets from the list of those allowed who were therefore unable to forge – NBA
What really happened?
As previously reported by BinBits, ‘The Association’ is an Ethereum-based NFT collection for this year’s NBA playoffs, which began production the day before. And NFTs include all players from 16 teams participating in the playoffs. An interesting aspect of NFTs is the fact that they are not static and will change in appearance during the playoffs, as player performance improves or not.
However, according to blockchain protection company BlockSec, there is a serious vulnerability in the collection that allows exploiters to dig up NFT without having to pay any tokens.
Furthermore, Blocksec receivables that the NFT contract cannot confirm that the user has previously used the signature. Therefore, exploiters can reuse the signature used by the actual user to mint several tokens.
Meanwhile, according to Blocksec, such an oversight should not have happened because it is basic knowledge.
The NBA has a history with the NFT
Interestingly, this is not the first time the NBA will enter the world of NFT. He previously teamed up with Dapper Labs to open the now popular NFT market, called the NBA Top Shot.
Although the Association is the first deviation of the NBA League from partnering with Dapper, this vulnerability is a major drawback. But surely, the basketball league is trying to take advantage of the growing popularity of NFTs based on sports. So it’s safe to say he’ll be back for sure, but this time, more prepared.
Meanwhile, the new collection was to be a blind mint. That is, no one will know which player they forged until the announcement on Friday. However, about 16,000 tokens out of 18,000 tokens seem to have been minted so far.
This story is still evolving and will be updated as more information becomes available.