Whitehat secures 3,832 NFTs amid Magic Eden vulnerability concerns

Yuga Labs, through its pseudonymous vice president of blockchain, 0xQuit, confirmed that the transfers were part of a white-hat operation. 0xQuit stated that the NFTs secured in the receiving wallet are safe and will be returned to their owners once the associated risks have passed. This is not the first time 0xQuit has been involved in such efforts; they previously helped recover 68 NFTs worth over $500,000 after an exploit on the Flooring Protocol.

Yuga Labs CEO Michael Figge indicated that a vulnerability was discovered a few hours prior to the white-hat intervention, with more information to be shared soon. Magic Eden has not yet publicly confirmed any exploitation of its contracts, and Cointelegraph had not received a response from the marketplace at the time of publication.