$5.7 Million in NFTs Rescued from Exploit Thanks to Quick Action by Security Researcher

A recent NFT exploit on September 25, 2026, initially appeared to be a mass drain connected to Magic Eden. However, further investigation revealed that the vulnerability was in Limit Break's Payment Processor, an NFT trading protocol used by Magic Eden's former Ethereum marketplace.

Security researcher 0xQuit discovered the issue and acted quickly to rescue $5.7 million worth of NFTs. He moved 23,155 NFTs into a publicly identified rescue wallet before malicious actors could take them.

The incident highlighted the importance of proper approval management in smart contracts. Even after Magic Eden's frontend stopped operating, wallets that had previously granted operator approval to the affected contracts remained exposed to potential attacks.