Magic Eden Legacy Approvals Expose Millions in NFTs to Exploit

Magic Eden revealed that its legacy approvals on its EVM marketplace left NFTs worth more than $5.7 million exposed to an exploit in Limit Break's Payment Processor V2.

The vulnerability surfaced after an attacker exploited the processor, stealing various NFTs including Meebits, Otherdeeds, World of Women NFTs, and Desperate ApeWives.

Yuga Labs Vice President 0xQuit stated that Limit Break quickly paused Payment Processor V3, which was affected by the same bug, but V2 could not be paused. This left a whitehat operation as the main way to protect assets.

The rescue effort successfully recovered 23,155 NFTs worth more than $5.7 million, but unfortunately did not cover 660 WETH that was also vulnerable to a related exploit.