Magic Eden said legacy smart contract approvals tied to its now-closed EVM marketplace left more than $5.7 million worth of NFTs exposed to risk from a vulnerability in Limit Break’s Payment Processor V2. A white-hat rescue operation secured 23,155 vulnerable NFTs before any assets were stolen, according to the platform. Magic Eden added that active listings on its current products were not affected, but users who had previously interacted with the old EVM marketplace should revoke leftover Payment Processor V2 approvals. Security researchers also found the risk was not limited to NFTs and extended to hundreds of WETH as well. The incident serves as another reminder that wallet approvals for asset transfers remain valid until they are explicitly revoked, even after a related website or service has shut down.
Magic Eden said legacy smart contract approvals from its discontinued EVM marketplace left more than $5.7 million worth of NFTs exposed to vulnerability risk tied to Limit Break’s Payment Processor V2.
The company said a white-hat rescue operation secured 23,155 vulnerable NFTs before any assets were stolen. Magic Eden added that active listings on its current products were not affected, but users who had interacted with the old EVM marketplace should revoke any remaining Payment Processor V2 approvals.
The exposure was not limited to NFTs
Security researchers also found that the risk extended beyond NFTs and involved hundreds of WETH.
Approvals remain active until revoked
The incident is also a reminder that wallet permissions allowing apps or protocols to move assets remain in effect until users explicitly revoke them, even if the related website or service has already shut down.
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