Whitehats moved 3,832 NFTs to a secure wallet after discovering a vulnerability in a payment contract used by Magic Eden, the NFT marketplace announced. The transfers initially appeared as regular sales on the platform, prompting community members to recommend approval revocations as a precaution.
Yuga Labs' VP of Blockchain, known as 0xQuit on X, confirmed the operation was a whitehat rescue. The NFTs are secure in the receiving wallet and will be returned to their owners once the risk is resolved.
Which listings were affected
Magic Eden identified the issue in Limit Break's Payment Processor V2, the protocol the marketplace adopted in 2024 to settle trades on EVM chains. According to the platform's interim statement, NFTs listed on Magic Eden's EVM marketplace between February and October 2024 remain potentially vulnerable. Magic Eden discontinued the contract in October 2024 and shut down its EVM marketplace entirely in Q1 2026.
No active Magic Eden listings were impacted by the exploit.
Next steps
Magic Eden said it is continuing to refine its investigation and plans to provide further updates. The marketplace has contacted Limit Break, which maintains the protocol, to explore additional protective measures such as pausing transfers.
Users who traded on Magic Eden EVM during the February-to-October 2024 window are advised to revoke their old approvals. This was not the first security incident handled by 0xQuit; in June, he helped recover 68 NFTs valued at over $500,000 following the Flooring Protocol exploit.
