A whitehat security researcher moved 3,832 non-fungible tokens from hundreds of wallets Friday in response to a vulnerability discovered on NFT marketplace Magic Eden.
NFT community member Cirrus flagged the activity on X, reporting that a single wallet transferred 3,832 NFTs from multiple addresses. The transactions appeared as sales through Magic Eden, prompting Cirrus to advise NFT holders to revoke platform permissions as a precaution.
Yuga Labs' pseudonymous vice president of blockchain, 0xQuit, subsequently confirmed the transfers were part of a white-hat security operation. According to 0xQuit, the NFTs held in the receiving wallet are secure and will be returned once they are no longer at risk.
0xQuit has a track record with similar rescue efforts. In June, the executive assisted in recovering 68 NFTs valued at more than $500,000 following an exploit affecting Flooring Protocol, with those assets also held pending return to affected users.
Yuga Labs CEO Michael Figge stated that the vulnerability was discovered hours before the protective transfers and that additional details would be shared soon. Magic Eden has not publicly confirmed that its contracts were exploited.
Cointelegraph contacted Magic Eden for comment but had not received a response at the time of publication.
