Whitehat rescues 3,832 NFTs from Magic Eden vulnerability
In brief
- Whitehat moved 3,832 NFTs from hundreds of wallets Friday to protect them from Magic Eden vulnerability
- Yuga Labs confirmed the protective operation; NFTs are safe and will be returned
- Magic Eden has not publicly confirmed exploitation; holders advised to revoke permissions
The rescue unfolds
NFT community member Cirrus flagged the activity on Friday, noting that a single wallet had moved 3,832 NFTs from hundreds of wallets. The transactions appeared as sales through Magic Eden, triggering immediate concern across the community. Cirrus advised NFT holders to revoke permissions as a precaution, signaling that the risk remained active.
Yuga Labs' pseudonymous vice president of blockchain, 0xQuit, confirmed the transfers were part of a white-hat operation. He said the NFTs held in the receiving wallet are safe and "will be returned once they are no longer at risk."
What happens next
Magic Eden has not publicly confirmed that its contracts were exploited. Yuga Labs CEO Michael Figge said a vulnerability was discovered a few hours earlier and that the company would share more details as the situation developed. Cointelegraph contacted Magic Eden for comment but had not received a response by publication.
This isn't 0xQuit's first rescue operation. In June, he helped recover 68 NFTs worth more than $500,000 after an exploit hit Flooring Protocol, demonstrating a track record of swift action when vulnerabilities surface.
