Following worries regarding a flaw tied to the NFT marketplace Magic Eden, a whitehat transferred 3,832 non-fungible tokens out of numerous wallets on Friday.
An NFT community participant known on X as Cirrus highlighted this movement on Friday, noting that one specific wallet transferred 3,832 NFTs from a multitude of individual wallets. Cirrus pointed out that these transfers looked like sales executed via Magic Eden and suggested that NFT owners revoke their allowances as a safety measure.
Soon after, 0xQuit, the pseudonymous VP of blockchain at Yuga Labs, explained that these movements constituted a white-hat intervention. He stated that the digital collectibles stored in the destination wallet remain secure and “will be sent back once the danger has passed.”
This same Yuga Labs officer has previously taken part in comparable NFT salvage missions. Back in June, 0xQuit assisted in retrieving 68 NFTs valued at over $500,000 following a security breach at Flooring Protocol, with those valuables subsequently kept safely to be restored to their rightful owners.
Michael Figge, the CEO of Yuga Labs, noted that a security flaw had been identified a few hours prior and mentioned that the organization would release additional details shortly.
Magic Eden has not yet issued a public confirmation stating that its smart contracts suffered an exploit.
Cointelegraph reached out to Magic Eden for a statement, but no reply was given prior to publication.
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