Magic Eden NFTs Seized by Whitehat Amid Vulnerability Concerns

A recent vulnerability at Magic Eden has led to the safekeeping of over 3,800 NFTs by a whitehat.

Cirrus, an NFT community member on X, flagged suspicious activity on Friday, noting that a single wallet had moved 3,832 NFTs from hundreds of wallets. The transactions appeared as sales through Magic Eden, prompting Cirrus to advise users to revoke permissions as a precautionary measure.

Yuga Labs' pseudonymous vice president of blockchain, 0xQuit, later confirmed that the transfers were part of a white-hat operation aimed at protecting affected NFTs. The executive assured users that the held assets are safe and will be returned once they are no longer at risk.