A technical glitch in the contract behind it Jack Butcher latest NFT project, Infinity Checks, caused an unfortunate loss of all funds. For security reasons, the associated website is currently suspended and under thorough investigation.
The error-prone function known as ‘regenerateMany’ was initially created to improve visual rerolls. Butcher and his assistant Jalil have admitted their mistakes and announced compensation for all collectors.
dear everyone ‼️
a bug was found in the Infinity contract I built and it was exploited to drain all the money.
I take full responsibility for it.
I just took the website down. investigate exactly what happened.
I will find a way to refund any deposit.
stripped…
— jalil.eth (@jalil_eth) August 10, 2023
Currency, value, refund
Butcher is a celebrated figure in the decentralized and digital art domains. He uses his famous firm Visualize value to curate groundbreaking NFT collections, Opepen and Checks, with the latest venture being Infinity Checks.
The main purpose behind it Infinity Checks was to harmonize the value between artistic expression and financial gain. NFT projects typically notice a price spike before plummeting in the blink of an eye, prompting collectors to quickly resell their digital assets rather than valuing the artwork they bring with them.
To counter this problem, Infinity Checks reflects on state-of-the-art creativity. With a stable price tag of 0.008 ETH ($15) promising stability amid market volatility. The key behind the project lies in the flexible pricing structure. ETH that used one of the NFTs remains shielded in the collection’s smart contract, allowing collectors to redeem their assets once the art is decommissioned.
While the unexpected bug in the contract underscores the challenges, Butcher and Jalil’s quick response shows their loyalty to fans. NFT curators can learn from the Infinity Checks glitch by working to create more trustworthy ecosystems for collectors, artists and enthusiasts alike.
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*All NFT Plazas investment/financial opinions are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research each product before making any kind of investment.