Magic Eden Legacy Approval Setup Exposes $5.7 Million in NFTs to Exploit Risk

Legacy approvals on Magic Eden's EVM marketplace have left over $5.7 million in NFTs vulnerable to exploit risk, according to a recent disclosure by the platform.

The issue stems from a previously used approval setup tied to Limit Break's Payment Processor V2, which was discontinued in October 2024.

A whitehat rescue operation has recovered 23,155 NFTs, including Meebits, Otherdeeds, World of Women, and Desperate ApeWives, following an attack on the processor. However, a related exploit still poses a risk to 660 WETH, with users advised to revoke Payment Processor V2 approvals on Ethereum, Polygon, and Base.

Magic Eden has confirmed that no live listings are impacted by the vulnerability, but NFTs listed between February and October 2024 may be affected. Users who revoke old approvals can later reclaim their recovered NFTs.