Yuga Labs Saves Over $500,000 in NFTs from Exploit
- Yuga Labs conducted a whitehat operation to save approximately $570,000 worth of NFTs from an exploit.
- The exploit targeted the defunct NFT liquidity project Floor Protocol, impacting collections like Bored Apes and CryptoPunks.
- 29 Bored Apes and two CryptoPunks were among the rescued assets.
- The attack involved converting wrapped Ethereum into a large μToken balance to drain NFT pools.
- Yuga Labs is working with Floor Protocol developers to return the NFTs to their rightful owners.
Yuga Labs intervened in an exploit affecting Floor Protocol, saving valuable NFTs from being stolen by malicious actors. The operation highlights Yuga Labs’ proactive measures in protecting digital assets within vulnerable platforms.
This incident underscores the ongoing risks in the NFT market, where significant assets remain targets for exploits despite decreased trading volumes since early peaks in sales activity. (Source)
