Whitehats Rescue Over 23,000 NFTs After Magic Eden Legacy Approval Exploit
A vulnerability in Limit Break’s Payment Processor V2 left old Magic Eden Ethereum NFT listings exposed to exploit, according to Decrypt. Whitehat actors intervened before attackers could, moving at-risk tokens into protective custody, according to Cointelegraph and The Block.
The Block reported that legacy Magic Eden approvals exposed Magic Eden legacy approvals leave $5.7 million in NFTs exposed to exploit before rescue.
in NFTs, with whitehats rescuing 23,155 tokens. The Defiant put the rescued total at 23,155 NFTs worth more than $5.7 million, citing Yuga Labs' 0xQuit, who confirmed the tokens were secured. Cointelegraph reported 0xQuit’s assurance that the NFTs are safe and will be returned to holders once the risk has passed.
All four outlets said holders of affected NFTs still need to revoke NFT and token approvals tied to the vulnerable contracts to protect their assets going forward. The exploit centers on Ethereum-based NFT listings that relied on outdated permission structures from Magic Eden’s marketplace integration with Limit Break’s payment processor, according to Decrypt.
- Vulnerability: legacy Magic Eden approvals via Limit Break’s Payment Processor V2
- Rescued: 23,155 NFTs, according to The Block and The Defiant
- Value: more than $5.7 million, according to The Defiant
- Action needed: holders must revoke old NFT and token approvals
Sources: Cointelegraph, The Block, The Defiant, Decrypt
This article is for information only and is not financial advice.
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