Yuga Labs Recovers $570,000 in BAYC NFTs After Floor Protocol Exploit
Yuga Labs, the creator of Bored Ape Yacht Club (BAYC), successfully conducted a whitehat rescue operation, securing over 60 high-value NFTs valued at approximately $570,000 from a vulnerability on the defunct Floor Protocol. The intervention prevented malicious actors from draining liquidity pools, including 29 Bored Apes and 2 CryptoPunks, from Ethereum-based collections.
The exploit allowed attackers to generate an infinite supply of μTokens, which could then be burned to withdraw underlying NFTs. Yuga Labs is now working with former Floor Protocol developers to return the recovered assets to their original owners, highlighting ongoing risks in DeFi infrastructure, especially with sunsetted protocols.
https://cryptovka.com/news/yuga-labs-rescues-570-000-in-bored-ape-nfts-following-protocol-exploit
Yuga Labs, the creator of Bored Ape Yacht Club (BAYC), successfully conducted a whitehat rescue operation, securing over 60 high-value NFTs valued at approximately $570,000 from a vulnerability on the defunct Floor Protocol. The intervention prevented malicious actors from draining liquidity pools, including 29 Bored Apes and 2 CryptoPunks, from Ethereum-based collections.
The exploit allowed attackers to generate an infinite supply of μTokens, which could then be burned to withdraw underlying NFTs. Yuga Labs is now working with former Floor Protocol developers to return the recovered assets to their original owners, highlighting ongoing risks in DeFi infrastructure, especially with sunsetted protocols.
https://cryptovka.com/news/yuga-labs-rescues-570-000-in-bored-ape-nfts-following-protocol-exploit
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