Imagine, if you will, a world where the only thing more surprising than a butler named Jeeves turning out to be a master of disguise is a critical bug in a staking contract allowing a mischievous hacker to abscond with a cool $730,000 in RARE tokens. Such is the world we live in, my dear readers, and such is the tale I am about to unfold.
- SuperRare, a name that sounds like it should belong to a vintage wine, lost a rather large sum of money to a hack. 💸
- The perpetrators, no doubt wearing masks and speaking in sinister whispers, targeted its staking contract. 😈
- A critical bug, like a chink in the armor of a knight at a medieval tournament, enabled anyone to take ownership. ⚔️
Crypto hacks, those pesky little things that keep us all on our toes, continue to plague crypto protocols. On the fateful Monday, July 28, a critical vulnerability on the NFT platform SuperRare (RARE) allowed attackers to steal an estimated $730,000 in RARE tokens. According to several crypto security platforms, including the ever-vigilant Blockaid, the attackers targeted one of SuperRare’s staking contracts, no doubt with the subtlety of a rhinoceros in a china shop. 🏦💥
🚨 Our real-time exploit detection systems had identified malicious transactions targeting one of the staking contracts used by @SuperRare
The attacker had deployed an exploit contract – but the actual attack was performed by a frontrunner one block later.
Updates in 🧵
— Blockaid (@blockaid_) July 28, 2025
In particular, attackers targeted the RareStakingV1 staking contract, which, much to everyone’s dismay, suffered from a critical vulnerability in its code. Analysts, with the keen eye of a hawk, showed that the RareStakingV1 contract had a bug that enabled anyone to pass the verification and take over the contract. It’s enough to make one wonder if the developers were asleep at the wheel. 🛌👀
After the attackers managed to take control of the smart contract, they transferred the assets to their wallets, no doubt cackling with glee all the while. However, blockchain security experts, always the voice of reason, stressed that the attack only affected the staking contract, with the NFT marketplace and the RARE token remaining blissfully unaffected. 🎉
SuperRare token dips 6% after the hack
Following the hack, the SuperRare token dipped a modest 6%, from its daily high of $0.0617 to $0.05815. Despite this, the token remains above its weekly lows and is still up 13% from the month prior. This resilience is likely due to the fact that the vulnerability affected only a small fraction of the assets on the marketplace. 📈
Currently, RARE has a market cap of $48.01 million, a figure that would make any self-respecting financier sit up and take notice. According to DappRadar, the SuperRare marketplace has a lifetime volume of $249.71 million, with 6,120 individual traders. However, volumes in the NFT marketplace have taken a significant dip in recent years, a bit like a once-popular dance that has fallen out of favor. Over the past 30 days, the platform registered just $2,120 in sales, with the average sale falling under $450. 🤷♂️📉
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2025-07-28 17:55