Magic Eden Approval System Hacked, Over 23k NFTs Worth $5.7M Exposed

Yuga Labs' 0xQuit has reported that a vulnerability in Magic Eden's legacy approval system was exploited, resulting in unauthorized access to over 23,155 NFTs worth more than $5.7 million. These NFTs are still vulnerable unless their holders revoke the contracts' approvals.

The affected NFTs were secured by white hat hackers who intervened to prevent further exploitation. The incident serves as a reminder of the importance of security measures in the digital assets market.