Whitehat Transfers 3,832 NFTs Amid Magic Eden Vulnerability
- A total of 3,832 non-fungible tokens (NFTs) were moved from hundreds of wallets on Friday.
- The transfers were flagged by an NFT community member named Cirrus, who noted they appeared as sales through Magic Eden.
- Yuga Labs’ blockchain VP, known as 0xQuit, confirmed the transfers were part of a white-hat operation to protect the NFTs.
- Yuga Labs CEO Michael Figge stated a vulnerability was discovered shortly before the transfers took place.
- In June, 0xQuit successfully recovered 68 NFTs worth over $500,000 after a previous exploit.
The movement of these NFTs was initiated due to concerns about a potential vulnerability affecting Magic Eden. Yuga Labs is expected to provide more information regarding this situation soon.
This incident highlights the proactive measures taken by whitehats in the NFT space, with over 3,800 NFTs now secured until they can be safely returned to their owners. (Source)
