Yuga Labs blockchain vice president Quit warned users on Sept. 25 to revoke approvals tied to the Ethereum Payment Processor V2 contract and the ApeChain Payment Processor V3 contract as soon as possible. He said users can do so through revoke.cash or similar approval-management tools. Quit also said that if assets were moved without permission and are currently sitting at an address beginning with 0x71cf, holders do not need to panic because those assets remain safe. Even so, affected users still need to revoke the approvals tied to the two contracts. The warning follows an earlier incident involving what was described as a suspected NFT security issue at marketplace Magic Eden. In that case, a white hat hacker moved 3,832 NFTs from hundreds of wallets, with the assets valued at about $1.5 million. Quit said those transfers were part of a white hat operation, that the NFTs were being held at an address beginning with 0x71cF, and that all assets would be returned once the risk is removed.
BlockBeats reported on Sept. 25 that Yuga Labs blockchain vice president Quit (@0xQuit) urged users to revoke approvals for the Ethereum Payment Processor V2 contract and the ApeChain Payment Processor V3 contract as soon as possible. He said users can use revoke.cash or similar tools to do so.
Quit said that if a user’s assets were moved without authorization and are currently held at an address beginning with 0x71cf, there is no need for concern because those assets are in a safe state. He added that affected users still need to revoke approvals for the two contracts.
Earlier report tied to suspected Magic Eden NFT security issue
An earlier report said NFT marketplace Magic Eden appeared to have suffered an NFT security issue. A white hat hacker moved 3,832 NFTs from hundreds of wallets, with the assets valued at about $1.5 million.
Quit said at the time that the transfers were part of a white hat operation. The NFTs are currently stored at an address beginning with 0x71cF and remain safe. They will all be returned after the risk is resolved.
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