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{"actor":"system:backfill","investigation_id":"c0dca3ef-11bc-4196-94a1-4fd8136b3669","kind":"publish","page_slug":"jaypegs-automart","published_at":"2026-05-28T17:44:25.167Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"JayPegs Automart","sections":[{"content":"JayPegs Automart is an Ethereum NFT project operated under the NGMI.global umbrella and presented as a fictional certified pre-owned car dealership specializing in the 2007 Kia Sedona. The project launched a collection of 10,000 ERC-721 NFTs (contract: 0xf210d5d9dcf958803c286a6f8e278e4ac78e136e) and an associated ERC-20 governance token, DONA, which was made redeemable for NFTs. The project also issued a secondary token called SKITS (0x11724aedebc975c696031a681b69403a831adc99). The team operated under pseudonyms with roles such as 'Sales Guy #2' and 'Senior Vice President McGhoul,' and styled all communications with an absurdist used-car-dealer persona. The project is noted in crypto media for its satirical framing of NFT culture. As of 2024, the NFT collection's floor price had declined to approximately 0.01 ETH and 24-hour trading volume had dropped to zero, indicating minimal ongoing market interest.","heading":"Project Overview","severity":"low","sources":[{"credibility":2,"name":"Jay Pegs Auto Mart: LARP meets NFT inside a 2007 Kia Sedona","type":"news_article","url":"https://protos.com/jay-pegs-auto-mart-crypto-larp-meets-nft-inside-2007-kia-sedona/"},{"credibility":2,"name":"This Minivan Won't Let You Down: How Jay Pegs' NFT Gave Birth to an Absurd Universe","type":"news_article","url":"https://thedefiant.io/jay-pegs-nft-phenomenon-dona/"},{"credibility":1,"name":"Jay Pegs Auto Mart (JPAM) ERC-721 Token on Etherscan","type":"on_chain","url":"https://etherscan.io/token/0xf210d5d9dcf958803c286a6f8e278e4ac78e136e"},{"credibility":1,"name":"Skits (for Jay Pegs Auto Mart) Token Tracker | Etherscan","type":"on_chain","url":"https://etherscan.io/token/0x11724aedebc975c696031a681b69403a831adc99"},{"credibility":2,"name":"Jay Pegs Auto Mart Collection | OpenSea","type":"other","url":"https://opensea.io/collection/jay-pegs-auto-mart"}]},{"content":"On September 17, 2021, during the JayPegs Automart DONA token auction conducted on SushiSwap's MISO launchpad, a contractor with the GitHub handle AristoK3 allegedly inserted malicious code into the MISO auction front end, replacing the project's legitimate auction wallet address with their own. This redirected all incoming ETH proceeds to the attacker's wallet rather than the JayPegs team. Approximately 864.8 ETH (valued at roughly $2.93–$3.1 million at the time) was diverted in this manner. The attack was classified as a supply chain exploit rather than a smart contract vulnerability, as it targeted the user interface layer. SushiSwap CTO Joseph Delong publicly identified the alleged attacker as the developer known online as eratos1122 and AristoK3, publishing personal identifying information including a resume, Facebook profile, email address, and invoice records in a since-deleted public post. The SushiSwap legal team, represented by attorney Stephen Palley, issued an 8 AM Eastern Time Friday deadline for return of funds, threatening FBI referral if the deadline was not met. The funds were returned in three installments of approximately 100 ETH, 700 ETH, and 65 ETH by Friday morning, totaling 865.094 ETH — slightly exceeding the stolen amount. No criminal charges were publicly confirmed following the return of funds. The project team stated it had settled the matter privately, declining to involve law enforcement after funds were recovered.","heading":"SushiSwap MISO Supply Chain Exploit (September 2021)","severity":"critical","sources":[{"credibility":1,"name":"$3M in Ether Stolen From SushiSwap's MISO Launchpad","type":"news_article","url":"https://www.coindesk.com/business/2021/09/17/3m-in-ether-stolen-from-sushiswaps-miso-launchpad"},{"credibility":1,"name":"$3M Was Stolen, but the Real Steal Is These Kia Sedonas, Say Anonymous Developers","type":"news_article","url":"https://www.coindesk.com/tech/2021/09/17/3m-was-stolen-but-the-real-steal-is-these-kia-sedonas-say-anonymous-developers"},{"credibility":2,"name":"SushiSwap's Token Launchpad Hacked for Over $3M in Ethereum","type":"news_article","url":"https://decrypt.co/81120/sushiswaps-token-launchpad-hacked-over-3m-ethereum"},{"credibility":2,"name":"Rekt - JayPegs Automart","type":"research","url":"https://rekt.news/jaypegs-automart-rekt/"},{"credibility":2,"name":"Exec issues FBI warning as SushiSwap's MISO suffers $3M exploit","type":"news_article","url":"https://ambcrypto.com/exec-issues-fbi-warning-as-sushiswaps-miso-suffers-3m-exploit/"},{"credibility":2,"name":"Sep 2021 - SushiSwap MISO Jaypegs Automart - $3.1m","type":"research","url":"https://www.quadrigainitiative.com/casestudy/sushiswapmisojaypegsautomart.php"}]},{"content":"The JayPegs Automart project team operates under full pseudonymity. Public-facing team members used fictional aliases such as 'Sales Guy #2' and 'Senior Vice President McGhoul,' with no verifiable real-world identities disclosed. The project is described as a subsidiary of NGMI.global, itself an anonymous organization. The use of anonymous contractors — one of whom was the vector for the September 2021 exploit — reflects a governance model with limited counterparty verification. No public audit of the project's smart contracts has been identified in available sources. The anonymous structure is consistent with a broad range of NFT projects from this era and does not on its own constitute evidence of fraud, but it does reduce accountability in the event of disputes or future incidents.","heading":"Anonymous Team and Transparency Concerns","severity":"medium","sources":[{"credibility":1,"name":"$3M Was Stolen, but the Real Steal Is These Kia Sedonas, Say Anonymous Developers","type":"news_article","url":"https://www.coindesk.com/tech/2021/09/17/3m-was-stolen-but-the-real-steal-is-these-kia-sedonas-say-anonymous-developers"},{"credibility":2,"name":"This Minivan Won't Let You Down: How Jay Pegs' NFT Gave Birth to an Absurd Universe","type":"news_article","url":"https://thedefiant.io/jay-pegs-nft-phenomenon-dona/"}]},{"content":"Following the initial launch and exploit in September 2021, the JayPegs Automart NFT collection and DONA token experienced the broader NFT market downturn of 2022. As of available data, the collection's floor price declined to approximately 0.01 ETH, with total trading volume of roughly 110.98 ETH across the collection's lifetime and near-zero recent trading activity. No evidence of active development updates, roadmap delivery, or continued utility has been identified in sources reviewed. The project website (jaypegsautomart.com) remains live, and the Twitter account (@jaypegsautomart) has not been permanently suspended, though activity levels are unclear from available sources. The SKITS token also shows minimal activity on-chain. Whether the decline reflects a deliberate wind-down, market attrition common to the 2021 NFT cohort, or project abandonment cannot be determined from available public information.","heading":"Token Value Decline and Project Activity","severity":"medium","sources":[{"credibility":2,"name":"Jay Pegs Auto Mart Collection | OpenSea","type":"other","url":"https://opensea.io/collection/jay-pegs-auto-mart"},{"credibility":2,"name":"Jay Pegs Auto Mart NFT floor price and value","type":"other","url":"https://www.nft-stats.com/collection/jay-pegs-auto-mart"},{"credibility":1,"name":"Jay Pegs Auto Mart (JPAM) ERC-721 Token on Etherscan","type":"on_chain","url":"https://etherscan.io/token/0xf210d5d9dcf958803c286a6f8e278e4ac78e136e"}]},{"content":"According to the AVOID.NET intake record, this entity was flagged by ZachXBT. However, no specific public investigation thread, post, or article by ZachXBT directly targeting JayPegs Automart has been identified in sources reviewed as of May 2026. It is possible the flag relates to the September 2021 MISO supply chain exploit, to concerns about project abandonment, or to secondary associations not surfaced in available public sources. This section should be updated if a primary ZachXBT source is identified. The absence of a confirmed ZachXBT thread does not constitute exoneration, and the MISO exploit incident is independently documented by Tier 1 and Tier 2 sources.","heading":"ZachXBT Flag","severity":"high","sources":[{"credibility":2,"name":"ZachXBT - Wikipedia (general background on investigator)","type":"other","url":"https://en.wikipedia.org/wiki/ZachXBT"},{"credibility":2,"name":"Rekt - JayPegs Automart","type":"research","url":"https://rekt.news/jaypegs-automart-rekt/"}]}],"sources_used":[{"credibility":1,"name":"$3M in Ether Stolen From SushiSwap's MISO Launchpad","type":"news_article","url":"https://www.coindesk.com/business/2021/09/17/3m-in-ether-stolen-from-sushiswaps-miso-launchpad"},{"credibility":1,"name":"$3M Was Stolen, but the Real Steal Is These Kia Sedonas, Say Anonymous Developers","type":"news_article","url":"https://www.coindesk.com/tech/2021/09/17/3m-was-stolen-but-the-real-steal-is-these-kia-sedonas-say-anonymous-developers"},{"credibility":2,"name":"SushiSwap's Token Launchpad Hacked for Over $3M in Ethereum","type":"news_article","url":"https://decrypt.co/81120/sushiswaps-token-launchpad-hacked-over-3m-ethereum"},{"credibility":2,"name":"Rekt - JayPegs Automart","type":"research","url":"https://rekt.news/jaypegs-automart-rekt/"},{"credibility":2,"name":"Exec issues FBI warning as SushiSwap's MISO suffers $3M exploit","type":"news_article","url":"https://ambcrypto.com/exec-issues-fbi-warning-as-sushiswaps-miso-suffers-3m-exploit/"},{"credibility":2,"name":"Sep 2021 - SushiSwap MISO Jaypegs Automart - $3.1m","type":"research","url":"https://www.quadrigainitiative.com/casestudy/sushiswapmisojaypegsautomart.php"},{"credibility":2,"name":"Jay Pegs Auto Mart: LARP meets NFT inside a 2007 Kia Sedona","type":"news_article","url":"https://protos.com/jay-pegs-auto-mart-crypto-larp-meets-nft-inside-2007-kia-sedona/"},{"credibility":2,"name":"This Minivan Won't Let You Down: How Jay Pegs' NFT Gave Birth to an Absurd Universe","type":"news_article","url":"https://thedefiant.io/jay-pegs-nft-phenomenon-dona/"},{"credibility":1,"name":"Jay Pegs Auto Mart (JPAM) ERC-721 Token on Etherscan","type":"on_chain","url":"https://etherscan.io/token/0xf210d5d9dcf958803c286a6f8e278e4ac78e136e"},{"credibility":1,"name":"Skits (for Jay Pegs Auto Mart) Token Tracker | Etherscan","type":"on_chain","url":"https://etherscan.io/token/0x11724aedebc975c696031a681b69403a831adc99"},{"credibility":2,"name":"Jay Pegs Auto Mart Collection | OpenSea","type":"other","url":"https://opensea.io/collection/jay-pegs-auto-mart"},{"credibility":2,"name":"Jay Pegs Auto Mart NFT floor price and value","type":"other","url":"https://www.nft-stats.com/collection/jay-pegs-auto-mart"},{"credibility":2,"name":"ZachXBT - Wikipedia","type":"other","url":"https://en.wikipedia.org/wiki/ZachXBT"}],"summary":"JayPegs Automart (also styled Jay Pegs Auto Mart) is an Ethereum-based NFT and token project launched in September 2021 by the anonymous team behind NGMI.global, themed as a satirical used-car dealership selling 2007 Kia Sedona NFTs. On September 17, 2021, a contractor injected malicious code into the SushiSwap MISO auction front end during the project's DONA token sale, redirecting approximately $3.1 million (864.8 ETH) to the attacker's wallet. Funds were fully recovered within 24 hours following public identification of the alleged attacker and threat of FBI referral.","timeline":[{"date":"2021-09-01","event":"JayPegs Automart announces DONA token auction via SushiSwap MISO launchpad, offering 9,800 DONA tokens redeemable for Kia Sedona-themed NFTs.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2021/09/17/3m-was-stolen-but-the-real-steal-is-these-kia-sedonas-say-anonymous-developers"},{"date":"2021-09-17","event":"Malicious contractor (GitHub: AristoK3, alleged Twitter: eratos1122) injects code into MISO front end, redirecting 864.8 ETH (~$3.1M) from the auction to their own wallet.","source":"CoinDesk / Decrypt","source_url":"https://www.coindesk.com/business/2021/09/17/3m-in-ether-stolen-from-sushiswaps-miso-launchpad"},{"date":"2021-09-17","event":"SushiSwap CTO Joseph Delong publicly identifies alleged attacker and issues FBI deadline of 8 AM Friday for fund return.","source":"Decrypt","source_url":"https://decrypt.co/81120/sushiswaps-token-launchpad-hacked-over-3m-ethereum"},{"date":"2021-09-17","event":"Stolen funds returned in three installments totaling 865.094 ETH by Friday morning; project team declines to pursue criminal charges.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2021/09/17/3m-was-stolen-but-the-real-steal-is-these-kia-sedonas-say-anonymous-developers"},{"date":"2021-09-17","event":"Rekt.news publishes incident to its leaderboard as a permanent record of the exploit.","source":"Rekt News","source_url":"https://rekt.news/jaypegs-automart-rekt/"},{"date":"2021-09-17","event":"NFT delivery proceeds; project gains elevated visibility in crypto media following the incident and recovery.","source":"The Defiant","source_url":"https://thedefiant.io/jay-pegs-nft-phenomenon-dona/"},{"date":"2024-01-01","event":"Collection floor price reported at approximately 0.01 ETH with near-zero trading volume, reflecting significant decline from launch-era pricing.","source":"OpenSea collection data","source_url":"https://opensea.io/collection/jay-pegs-auto-mart"}]},"v":1}