Frankfurt, Germany – April 20, 2022 – Recently surfaced internal documents have hinted that all may not be well in the world of NFT gaming. These documents point to a host of missteps by NFT game developers whose games are currently on the Binance Smart Chain, with secure coding being one of the most common oversights. In some cases, evidence has emerged implying that certified contracts by industry leaders have security holes.
The most prevalent exploit appears to be in the minting of NFTs. Developers implement pseudo-random algorithms without knowing what they mean, spelling trouble for developers and investors alike.
CryptoHeist informants tell the development team that recent games all had been exploited due to poorly implemented mechanisms, which in some cases were not discovered by renowned audit certiﬁcation providers.
The GameFi space is already plagued by so-called rug pulls, where developers deliberately launch game tokens just to pull out liquidity right after launch.
“Mercenary is a perfect example of a rug pull,” said an anonymous NFT gaming enthusiast. “It was getting hyped pretty hard here in my country because of the inﬂuencers. They promised a ﬁxed reward and calculable return on investment, so many people fell for it. The project had about a million USD in liquidity when they deleted the discord server and disappeared with all the money.”
KYC badges and audit certiﬁcations all give a false sense of security. With all the hype surrounding these security measures, the industry leads investors to believe that some type of ID and certiﬁcate is all that is needed to prove that a project is trustworthy. As recent developments and stories of exploitation emerge, the truth is now coming out that this is most certainly not the case.
How can investors’ trust be recovered in this space that has both rug pulls and poorly written solidity code?
After seeing so many failed projects and problems caused by the lack of commitment and responsibility, the creators of CryptoHeist decided to launch their project. It not only applies the experience they gathered by being part of the crypto space but also uses their own money for development, marketing, and liquidity. CryptoHeist offers numerous new solutions to previous problems to move the industry forward and bolster investor trust. Examples of such innovation include combining traditional P2E elements with a synergic staking ecosystem (nodes).
“We are players ourselves. We know solidity, and we know the bugs and hacks,” said @cryptoheist_professor, one of the project’s developers. “Our contracts are safe, not because someone gives us a certiﬁcation badge but because we put our own money on the line.”