Hack on NFT platform SuperRare results in loss of nearly $730,000
Date: 2025-07-30 Author: Henry Casey Categories: BUSINESS
On Monday, July 28, 2025, a security incident occurred on the NFT platform SuperRare, as a result of which attackers stole RARE tokens worth about $730,000. Cryptosecurity experts found out that the attack was aimed at one of the smart contracts used for staking on the platform.
Analysts at Blockaid reported that hackers discovered a critical vulnerability in the code of the RareStakingV1 contract. This error allowed attackers to pass the verification procedure and gain full control over the contract, which led to a successful attack. Real-time monitoring systems recorded several suspicious transactions aimed at exploiting this contract.
SuperRare representatives explained that the attackers first deployed a separate contract to carry out the exploit, and then the main hack occurred through the transaction forwarder to the next block. Having gained control over the staking contract, the hackers were able to transfer the stolen assets to their wallets. At the same time, the trading platform itself and the main RARE token remained unaffected by the attack.
After the incident, the value of the RARE token fell by 6%, falling from a daily maximum of $0.0617 to $0.05815. Despite this, in the long term, the token is still showing growth: its price is 13% higher compared to a month ago. The market capitalization of the cryptocurrency exceeds $48 million.
Experts emphasize that the incident affected only the staking contract and did not affect the operation of the SuperRare platform itself, which made it possible to avoid more serious consequences for users and investors. However, this case once again highlights the importance of regular smart contract audits and enhanced security measures in the NFT and blockchain space.
