Magic Eden scare puts 3,832 NFTs in whitehat protective custody
Yuga Labs’ 0xQuit said the NFTs are safe and will be returned once the risk passes, while holders were urged to revoke NFT permissions.
A whitehat moved 3,832 non-fungible tokens from hundreds of wallets on Friday amid concerns about a vulnerability involving NFT marketplace Magic Eden.
NFT community member who goes by Cirrus on X flagged the activity on Friday, saying a single wallet moved 3,832 NFTs from hundreds of wallets. Cirrus said the transactions appeared as sales through Magic Eden and advised NFT holders to revoke permissions as a precaution.
Shortly afterward, Yuga Labs’ pseudonymous vice president of blockchain, 0xQuit, said 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.”
