In a remarkable white-hat operation, a team led by Yuga Labs' 0xQuit successfully secured 23,155 NFTs valued at more than $5.7 million. This intervention came in response to a significant vulnerability discovered in Limit Break's Payment Processor, which allowed for unauthorized transfers of NFTs.
The alarm was raised early on September 25 when NFT tracker Cirrus detected 3,832 NFTs being transferred for 0 ETH from multiple wallets, triggering concerns within the community. However, the wallet in question belonged to the white-hat team, who acted swiftly to prevent further losses.
Despite the successful rescue, approximately 660 WETH was lost during the incident. 0xQuit noted that the vulnerability also posed risks to WETH, emphasizing the urgency of the situation. The team managed to safeguard the NFTs before they could fall into the hands of malicious actors.
Magic Eden, the NFT marketplace involved, confirmed that the exploit was related to Limit Break’s Payment Processor V2, which had been used for Ethereum transactions prior to the closure of its EVM marketplace. Users who interacted with this protocol are now being advised to revoke old approvals to enhance their security.
While the rescued NFTs are expected to be returned to their rightful owners, no timeline has been provided for when this will occur. The ongoing investigation by Magic Eden and Limit Break aims to implement further protective measures to prevent similar incidents in the future.
