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Magic Eden-linked NFTs moved to protective custody amid vulnerability fears

Yuga Labs said 3,832 NFTs were involved and told holders to revoke NFT permissions while the risk passes.

Reported · Written up by our desk · Altcoins

Yuga Labs said NFTs it identified as affected are safe and will be returned once the risk linked to Magic Eden passes, after a white-hat reportedly moved tokens into protective custody, according to Cointelegraph.

The outlet reports that a white-hat moved 3,832 non-fungible tokens from hundreds of wallets on Friday amid concerns about a vulnerability involving the NFT marketplace Magic Eden.

Cointelegraph says an NFT community member who flagged the activity advised holders to revoke NFT permissions as a precaution, noting the transfers appeared to run as sales through Magic Eden.

Cointelegraph adds that Yuga Labs’ pseudonymous vice president of blockchain, 0xQuit, said the transfers were part of a white-hat operation.

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