Unfortunately, there was an exploitation with $LAND TOKEN , which means someone took advantage of a vulnerability in the system and caused a loss of 149,616 $BUSD. That’s a lot of money!
The problem happened because there wasn’t enough control over who can create new $land coins. Some addresses related to the project were able to create these coins without proper permission or oversight. And this is where the trouble started.
Here’s What The Attacker Did
First, they used a few addresses associated with the project to create special digital items called NFTs (non-fungible tokens). These NFTs were unique and valuable. One of the addresses used by the attacker is 0x2e599883715d2f92468fa5ae3f9aab4e930e3ac7.
Then, the attacker called another address, 0xeab03ad7ea0ac5afb272b592bef88cf93ed190c5, to exchange those NFTs for a different digital currency called $XQJ. They got 200 $XQJ for each NFT they had.
Next, the attacker took some of the $XQJ they received and traded it for a large amount of $BUSD, which is another digital currency. They got 149,616 $BUSD by exchanging 28,601 $XQJ.
Finally, the attacker repeated the process of creating NFTs until they reached the maximum number allowed.