A security warning from Yuga Labs says the Payment Processor V2, or PPV2, exploit is still ongoing, with users remaining exposed as long as risky approvals have not been revoked. Quit, Yuga Labs’ vice president of blockchain, said on Sept. 30 that users who were not affected in the Sept. 25 incident may still face asset risk if those permissions remain in place. He cited a fresh case from about an hour earlier in which address 0x3B13...3327 lost 0.15246 WETH in the block immediately after accepting an offer and receiving funds. According to Quit, the attacker paid 99% of the proceeds as a tip to Titan Builder and kept only about 0.0015 ETH, leaving almost no practical room to recover the funds through frontrunning. Quit also said OpenSea could consider checking whether users still have risky approvals before they accept offers and require those approvals to be revoked first. He added that NFT transfers should also include a check on whether the receiving address still holds the same type of approval risk.
BlockBeats reported on Sept. 30 that Quit, Yuga Labs’ vice president of blockchain, warned the Payment Processor V2 (PPV2) exploit is still ongoing. Users who were not affected in the Sept. 25 incident may still face risk if the relevant approvals have not been revoked.
Quit urged users to revoke those approvals immediately. He said that about an hour earlier, address 0x3B13...3327 lost 0.15246 WETH in the very next block after accepting an offer and receiving funds.
According to Quit, the attacker paid 99% of that amount as a tip to Titan Builder and kept only about 0.0015 ETH. That structure makes it almost impossible to recover the funds through frontrunning.
Quit also suggested that OpenSea could check whether a user still has risky approvals before allowing an offer to be accepted, and require the approvals to be revoked first. He added that when an NFT is transferred, the receiving address should also be checked for the same approval exposure.
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