Whitehat hauls 3,832 NFTs to safety after Magic Eden scare 🛟

A single wallet relocated 3,832 non-fungible tokens from hundreds of wallets on Friday, prompting NFT community member Cirrus to flag the transactions on X as a possible exploit routed through marketplace Magic Eden. Cirrus said the activity appeared as sales through Magic Eden and urged NFT holders to revoke permissions as a precaution.

Yuga Labs' pseudonymous vice president of blockchain, 0xQuit, confirmed the transfers were part of a whitehat operation, stating the NFTs held in the receiving wallet are safe and "will be returned once they are no longer at risk." 0xQuit has previously taken part in similar rescue efforts, including a June incident in which he helped recover 68 NFTs valued at more than $500,000 after Flooring Protocol was exploited, with the assets subsequently held for return to affected users.

Yuga Labs CEO Michael Figge said a vulnerability was identified a few hours before the post and that the company would release further information soon. Magic Eden has not publicly confirmed that its contracts were exploited, and Cointelegraph reported that a request for comment went unanswered by publication.

The 3,832 tokens remain in the whitehat wallet pending return to their original owners as Yuga Labs prepares additional details on the underlying vulnerability.