$5.7M in NFTs Rescued by White Hats as Limit Break Vulnerability Exposed

A sudden and alarming movement of thousands of NFTs on Magic Eden sparked concern among owners and market observers. The NFT tracker Cirrus first raised the alarm after spotting 3,832 NFTs moving into a single wallet for exactly 0 ETH.

However, it turned out that the wallet belonged to a white-hat rescue operation led by Yuga Labs' 0xQuit. The team had discovered a vulnerability in Limit Break's Payment Processor and was working to secure the affected NFTs before attackers could reach them.

The rescue operation ultimately secured 23,155 NFTs worth more than $5.7 million, but not all vulnerable assets were recovered. Approximately 660 WETH (Wrapped Ethereum) slipped through, with a value of around $1.7 million.

Owners who previously interacted with Magic Eden's Ethereum marketplace are being urged to revoke their Limit Break Payment Processor V2 approvals on Ethereum and V3 approvals on ApeChain to prevent further losses.