Magic Eden said the incident reported on Sept. 25 did not stem from a breach of its own platform. According to CEO Jack, the issue was linked to Limit Break’s trading protocol and smart contracts. The company said it stopped using that protocol two years ago, distancing the marketplace from the vulnerable system at the center of the event.
Jack said Magic Eden is now in contact with Limit Break on next steps. One measure under discussion is a protocol-level pause on transfers involving the affected assets. Until more clarity is available, users have been advised to revoke any relevant approvals on Magic Eden.
He also thanked white-hat hacker 0xQuit for helping recover stolen assets, saying the intervention prevented the situation from getting worse. Magic Eden added that it will release more updates after it confirms additional details.
Magic Eden CEO Jack said on Sept. 25 that the marketplace itself was not hacked and that the incident was caused by a flaw in Limit Break’s trading protocol and smart contracts.
Magic Eden said it stopped using that protocol two years ago.
Magic Eden is discussing follow-up steps with Limit Break
Jack said the company is in contact with Limit Break on a response, including efforts to pause transfers of the affected assets at the protocol level.
Until then, users should revoke any relevant approvals on Magic Eden.
0xQuit helped recover stolen assets
Jack also thanked white-hat hacker 0xQuit for helping recover stolen assets, saying that effort prevented the situation from getting worse.
Magic Eden said it will share more updates after confirming additional details.
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