Magic Eden legacy approvals leave $5.7 million in NFTs exposed to exploit before rescue
Magic Eden said old Ethereum-era approvals left more than $5.7 million in NFTs exposed through a flaw in Limit Break’s Payment Processor V2, and a whitehat operation later moved 23,155 NFTs to safety. Magic Eden also said no live listings were affected, while users with old marketplace approvals were told to revoke them. The incident left some related assets unrecovered, including 660 WETH tied to the exploit.
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People who still had old Ethereum-era approvals on Magic Eden were the ones most directly affected, because those approvals were identified as exposing NFTs to risk. That also mattered to users with live listings, since Magic Eden said those listings were not affected.
In practice, the situation changed from exposed approvals to a whitehat-moving-assets response: 23,155 NFTs were moved to safety after the flaw was identified. After that, users with old marketplace access still had to deal with lingering approvals by revoking them.
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Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 1.5 years ago | Loopscale · Oracle attack incident | $5.8M |
| 6 months ago | Wasabi Protocol · Private key leakage incident | $5.7M |
| 2.0 years ago | EigenLayer Investor incident | $5.7M |
| 5.6 years ago | Roll incident | $5.7M |
| 2.1 years ago | Truflation incident | $5.6M |
4200 incidents stored · 467 were as large as this one or larger ($5.7M)
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