Magic Eden Users Can Reclaim Stolen NFTs from Payment Processor Exploit

A significant development has occurred in the aftermath of the recent Payment Processor exploit on Magic Eden. The site for owners to recover their NFTs, rescued by whitehat efforts, has gone live. According to 0xQuit, vice president of blockchain researcher at Yuga Labs, who led the rescue mission, this is a crucial step in reclaiming stolen assets.

The recovery process is entirely free, with only standard gas fees applied. To reclaim their NFTs, owners must first revoke the old, problematic approval. This is a condition set by 0xQuit to prevent repeat exposure and ensure the security of remaining assets.

Notably, only rescued NFTs can be reclaimed from the site, while those in possession of exploiters are not recoverable at this time. As of publication, 2,357 have already been claimed out of the 26,448 recovered assets.