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NFT Platform Gondi Suffers $230,000 Exploit Due to Smart Contract Vulnerability

NFT Platform Gondi Suffers $230,000 Exploit Due to Smart Contract Vulnerability

Gondi’s NFT platform faced a $230,000 loss due to a logic flaw in its Sell & Repay contract, prompting urgent recovery efforts and security measures.

Fact Check
The exploit is documented by multiple reputable crypto news outlets (The Block, Phemex) and security monitoring platforms (Goplus). All sources consistently report the same loss amount ($230,000), the specific platform (Gondi/gondixyz), and the cause (contract vulnerability/logic flaw in the 'Sell & Repay' contract).
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Summary

Gondi’s NFT platform was exploited due to a flaw in its Sell & Repay contract, resulting in a loss of 78 NFTs valued at $230,000. The vulnerability was linked to the Purchase Bundler function deployed on February 20. Gondi has suspended the feature, initiated recovery actions, and will compensate affected users.

Terms & Concepts
  • NFT (non-fungible token): A unique digital asset stored on a blockchain that represents ownership of a specific item or piece of digital content.
  • Smart contract: Self-executing blockchain code that automatically enforces terms and transfers assets without intermediaries.