Magic Eden Vulnerability Prompts NFT Rescue
According to Cointelegraph, a whitehat operator moved 3,832 non-fungible tokens from hundreds of wallets amid security concerns involving marketplace Magic Eden. Yuga Labs executive 0xQuit confirmed the transfers were part of a rescue operation to secure the assets, stating that the tokens are safe and will be returned to their owners once the risk has passed.
Community member Cirrus first flagged the massive transfer activity on social media, noting that the transactions appeared as sales through Magic Eden and advising holders to revoke permissions immediately. Yuga Labs CEO Michael Figge stated that a vulnerability had been discovered hours prior, with further details expected soon.
Magic Eden reported that the exploit involved Limit Break’s Payment Processor V2, an NFT trading protocol that the marketplace stopped using in October 2024. The firm noted that its EVM marketplace was closed in the first quarter of 2026 and stressed that no live Magic Eden listings were impacted by the incident.
Assets listed on the EVM marketplace between February and October 2024 may be affected. Magic Eden urged former users to revoke approvals for the relevant contract across Ethereum, Polygon and Base, while adding that it is communicating with protocol owner Limit Break to pursue further mitigations and pause potential transfers.
Based on reporting by cointelegraph.com.
