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 white-hat individual moved 3,832 NFTs from hundreds of wallets on Friday due to concerns about a vulnerability within the NFT marketplace Magic Eden. The transactions appeared as sales through the platform, leading NFT holders to revoke permissions as a precautionary measure. Yuga Labs' 0xQuit, the pseudonymous vice president of blockchain, confirmed the transfers were part of a white-hat operation and stated that the NFTs in the receiving wallet are safe.
They will be returned once the risk has passed. Yuga Labs CEO Michael Figge revealed that a vulnerability was discovered a few hours earlier, and the company would provide further details shortly. Magic Eden acknowledged the exploit involved Limit Break's Payment Processor V2, which the company stopped using in October 2024. The marketplace closed its EVM platform in the first quarter of 2026.
Magic Eden advised former users to revoke permissions for the contract on Ethereum, Polygon, and Base, but noted that this would not revert tokens already moved. The company stated that no live Magic Eden listings were affected in this exploit, but NFTs listed on its EVM marketplace between February and October 2024 may be impacted.
Magic Eden is currently in contact with Limit Break, the protocol's owner and maintainer, to discuss additional mitigation measures, including efforts to pause transfers. Cointelegraph reached out to Magic Eden for comment but had not received a response at the time of publication.
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