Whitehat moves 3,832 NFTs to safety as Magic Eden-linked vulnerability triggers warning

A whitehat operation moved 3,832 non-fungible tokens from hundreds of wallets on Friday after suspicious activity linked to Magic Eden drew alarm across the NFT community. X user Cirrus first flagged the transfers, saying a single wallet had moved assets from a large number of wallets in transactions that appeared to be sales through Magic Eden. Users were advised to revoke NFT approvals as a precaution. Yuga Labs pseudonymous vice president of blockchain, 0xQuit, later said the transfers were part of a protective whitehat action. According to 0xQuit, the NFTs in the receiving wallet are safe and will be returned after the risk has passed. Yuga Labs CEO Michael Figge also said a vulnerability had been discovered a few hours earlier and that more details would be shared soon. Magic Eden later said the issue was tied to Limit Break’s Payment Processor V2, a protocol it stopped using in October 2024. The marketplace said no live Magic Eden listings were affected, though NFTs listed on its EVM marketplace between roughly February and October 2024 may be impacted. It urged former users to revoke approvals for the contract on Ethereum, Polygon and Base, while noting that revoked permissions would not recover tokens that had already been moved.