#nft exploit

➤ Yuga Labs successfully rescued 68 high-value NFTs, including BAYC and CryptoPunks, worth over $500K from a Flooring Protocol smart contract exploit. ➤ The exploit, dubbed 'ghost ownership,' allowed attackers to inflate token balances and claim false ownership of NFTs locked in liquidity pools. ➤ Yuga Labs is working with Flooring Protocol to fix the vulnerabilities, ensuring no user losses were reported for the recovered assets.

➤ Yuga Labs successfully rescued 68 NFTs, including valuable blue-chip assets like Bored Ape Yacht Club and CryptoPunks, from an exploit on the Flooring Protocol. ➤ The white-hat operation involved Yuga's GrailsOTC trading desk fronting capital to secure the NFTs before attackers could drain them, highlighting a new incident response playbook for major NFT issuers. ➤ The exploit stemmed from a smart contract vulnerability in Flooring Protocol's fractionalization mechanism, and Yuga Labs is holding the rescued NFTs pending a fix, while warning of continued risks.

View On WordPress

View On WordPress

View On WordPress