Magic Eden flags Ethereum NFT drain tied to Limit Break Payment Processor V2
Magic Eden said an exploit tied to Limit Break’s Payment Processor V2 could let NFTs be drained from wallets that once interacted with its earlier Ethereum setup, and it told users to revoke approvals. A later warning said the issue could still affect assets in wallets that still have unrecalled authorizations after the Sept. 25 incident.
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What it means
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Users who interacted with Magic Eden’s earlier Ethereum setup are the ones who notice this first, because the warning points to wallets with older approvals that may still be exposed. Anyone holding assets in wallets with unrecalled authorizations would need to pay attention immediately, since the issue is described as affecting those permissions rather than current marketplace activity.
What changes in practice is that revoking approvals becomes the relevant action for the affected wallets, while the normal Magic Eden trading flow is described as not being the focus. The Sept. 25 incident remains the reference point, and the warning does not change the fact that the concern is about prior authorizations already granted.
Market reaction
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