Magic Eden NFTs Seized by Whitehats Amid Vulnerability Concerns

A recent incident involving Magic Eden has sparked concern among NFT holders after a whitehat operation moved 3,832 non-fungible tokens from hundreds of wallets on Friday.

The movement was flagged by community member Cirrus on X, who noticed the transactions appeared as sales through Magic Eden and advised users to revoke permissions as a precaution.

Yuga Labs' pseudonymous vice president of blockchain, 0xQuit, confirmed that the transfers were part of a white-hat operation, stating that the NFTs are safe and will be returned once they are no longer at risk.

The Yuga Labs executive has previously been involved in similar rescue efforts, including recovering 68 NFTs worth over $500,000 after an exploit hit Flooring Protocol in June.