Over the last two weeks, we have re-assessed the full state of the deployed contract. It is now confirmed that the main accounting model was damaged in the attack and cannot be repaired. The only way to restore correct ownership is to re-deploy the main contract.
We remain cautious on the security side. BitmapPunks has one of the most complex designs in the NFT space, and it is uncertain whether a simple fix would avoid introducing new vulnerabilities. With that in mind, we are evaluating two new paths forward.
The first is to deploy a pure ERC-721 contract and re-mint with only the images baked on-chain. The trade-off is that BitmapPunks would permanently lose part of its identity, relying heavily on traditional marketplaces, and the project would only make sense on EVM chains with marketplace support.
The second is to airdrop as a pure ERC-20 token, fully decoupling the art from the token. Effectively, the new token would become more of a meme coin representing the project's culture.
In parallel, we have spoken with several entities interested in taking over and running the token and community side of the project. If we find a team that genuinely shares our vision for BitmapPunks, we will hand over our source code and everything we have built, so they can carry the torch and continue the journey from here.
Regardless of how the token side is resolved, we will continue to build on this project. It remains the largest PFP collection in history, and its glory will not be undone by a single attack. In the age of AI, we are all in the process of redefining ourselves — and now a new chapter is unfolding.
While the token side remains pending, we will remove certain functions from our websites and Telegram channels. Our focus will shift to spreading BitmapPunks as a pure pixel art PFP project across the internet, and we will release more tools to help builders easily access the project's content.
Last but not least, we see many NFTs still being purchased every day on our native marketplace. We're grateful for your love of the art, but we must emphasize one important point that we have already discussed with the CTO candidates: if we ever conduct an airdrop or gated re-mint, ownership will be based on the snapshot taken before the attack. This means any purchases made after the hack will not be counted.
Thank you for your continued attention. We will share more details as they become available.
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