Yuga Labs, the company behind the popular collection of non-fungible tokens (NFTs) Bored Ape Yacht Club (BAYC)has announced that it has disabled the protocol code that allowed the company to mint unlimited BAYC NFTs.
The news comes more than a year after Yuga Labs promised to revoke the token minting feature.
The Yuga Labs co-founder, who goes by the name EmperorTomatoKetchup, said on his Twitter account that the company was not quick to fix the code out of “excessive precaution.” But he confirmed that the feature was disabled:
“The owner of the contract has now been burned. While we had intended to do this for a long time, we hadn’t done it out of an abundance of caution. I felt comfortable doing it now. All ready. In simple terms: the problem pointed out in this article is now impossible”, he said on Tuesday (7).
Both EmperorTomatoKetchup and the other co-founder of Yuga Labs, known as Gargamel, provided a link to the transaction that does, in fact, confirm the revocation of the code.
The transaction has a timestamp of 19:07 ET on June 7, 2022.
Infinite NFTs from Bored Ape Yacht Club?
The Bored Ape NFT’s unlimited minting feature was first discovered by NonFungibles CEO Dan Kelly. In January 2021, he noted on his Twitter account that Yuga Labs could mint as many NFTs as they wanted according to the code of ethereum blockchain.
At the time, a Yuga Labs spokesperson responded that the company did not intend to use the feature. In addition, he said the company planned to revoke the charge “in a day or two.” But that hasn’t happened, so far.
More recently, on June 5, 2022, an NFT developer known as foobar commented on Twitter that this code still existed. That is, more than a year after saying it would, Yuga Labs has never revoked the code.
Two days after the tweet, the team definitively completed the revocation.
The contract owner has now been burned. While we’d been meaning to do this for a long time, we hadn’t out of an abundance of caution. Felt comfortable doing it now. There done.
In lay terms: The issue flagged in this article is now impossible.
— EmperorTomatoKetchup (@TomatoBAYC) June 7, 2022
“A single private key can spawn an infinite number of new Bored Apes,” Blockworks tweeted, to which Emperor replied, “In layman’s terms: The problem noted in this article is now impossible.”
Good news for BAYC owners
Disabling the unlimited mint code for NFTs could be good news for “bored monkey” holders. After all, the project has often been the target of phishing attacks.
Just four days ago, the project’s official Discord server was reportedly hacked.
So, the attackers managed to steal 200 ETH in NFT. At the current exchange rate, this equates to about $357,000.
This is the second time this has happened with BAYC Discord in the year 2022 alone.