Magic Eden Warns Old Ethereum NFT Listings Are Exposed to Payment Processor Exploit

Decrypt09-25 16:17

In brief Magic Eden warned that NFTs listed on its now-closed EVM marketplace between roughly February and October 2024 could be exposed to an exploit in Limit Break's Payment Processor V2. Yuga Labs'...

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Click to make your prediction.\nEVM refers to Ethereum and the blockchains compatible with it. Magic Eden adopted the contract to settle tra...","collect":0,"end_time":0,"defaultTopTitle":"decrypt.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHD":"ProShares UltraShort Ether ETF","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETHE":"最大以太坊ETF-Grayscale","ETHI":"Defiance Leveraged Long Income Ethereum ETF","TETH":"21Shares Ethereum ETF","EZET":"以太坊ETF-Franklin","SETH":"1倍做空以太币期货ETF-Proshares","ESK":"REX-Osprey ETH + Staking ETF","BTF":"比特币&以太币期货ETF-CoinShares","ETCO":"Grayscale Ethereum HIGH Income ETF","ETHT":"ProShares Ultra Ether ETF","EETH":"以太币期货ETF-ProShares","ETU":"T-Rex 2X Long Ether Daily Target ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","ETHV":"以太坊ETF-VanEck","QETH":"以太坊ETF-Invesco Galaxy","ETHW":"以太坊ETF-Bitwise","FETH":"以太币ETF-Fidelity","ETH":"低成本以太坊ETF-Grayscale","YETH":"Roundhill Ether Covered Call Strategy ETF","ETHA":"以太坊ETF-iShares"},"translate_title":"Magic Eden 警告旧以太币 NFT 列表面临支付处理器漏洞","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETHI":0.6,"EZET":0.6,"ESK":0.6,"ETHA":0.6,"ETHD":0.6,"FETH":0.6,"SETH":0.6,"YETH":0.6,"ETCO":0.6,"ETHW":0.6,"ETHT":0.6,"EETH":0.6,"ETQ":0.6,"ETU":0.6,"BTF":0.6,"ETHU":0.6,"QETH":0.6,"ETH":0.6,"ETHV":0.6,"TETH":0.6,"ETHE":0.6},"content_text":"In brief\nMagic Eden warned that NFTs listed on its now-closed EVM marketplace between roughly February and October 2024 could be exposed to an exploit in Limit Break's Payment Processor V2.\nYuga Labs' 0xQuit said a whitehat operation rescued 23,155 NFTs worth more than $5.7 million, but 660 WETH couldn't be recovered.\nUsers should revoke the contract's approvals on Ethereum, Polygon and Base. Revoking won't return tokens that have already moved.\nMagic Eden may have left Ethereum behind, but some of its old users' NFTs were still exposed.The marketplace warned Friday that NFTs listed on its EVM marketplace between roughly February and October 2024 could be affected by an exploit in Payment Processor V2, an NFT trading protocol built and maintained by Limit Break.Myriad: Where does Ethereum go next? Click to make your prediction.EVM refers to Ethereum and the blockchains compatible with it. Magic Eden adopted the contract to settle trades in 2024, stopped using it that October and shut its EVM marketplace entirely in early 2026.\"No live Magic Eden listings were impacted in this exploit,\" the company said on X.The problem lies in lingering approvals. When users list NFTs, they typically grant a contract permission to move them, and that permission stays active until it's revoked.Magic Eden urged anyone who listed or traded on its EVM marketplace to revoke the V2 contract's \"approved for all\" permissions on Ethereum, Polygon, and Base using Revoke.cash. It noted that revoking won't return tokens that have already moved.\nAt 9AM EST today somebody abused a bug in Payment Processor V2 to steal 10 Meebits, 50 Otherdeeds, 10 WoW, and 235 Desperate Apewives.\nIt wasn't until over 12 hours later that somebody reported it to me, and upon digging in I realized that a great many NFTs were subject to the… pic.twitter.com/Vue8TUyMD2\n— Quit (@0xQuit) September 25, 2026Yuga Labs Vice President of Blockchain 0xQuit said an attacker used the bug to take 10 Meebits, 50 Otherdeeds, 10 World of Women NFTs, and 235 Desperate ApeWives. Limit Break paused Payment Processor V3, which had the same flaw, but V2 couldn't be paused. That forced a whitehat rescue, an operation in which friendly hackers move vulnerable assets to safety before attackers can.\"All in all, we rescued 23,155 NFTs worth north of $5.7M USD,\" 0xQuit wrote. Owners will be able to reclaim them after revoking the approvals, according to 0xQuit.But 660 wrapped Ethereum, or WETH, exposed to a reverse version of the exploit wasn't recovered in time.Magic Eden dropped Ethereum and Bitcoin support in February to focus on Solana and its crypto casino, Dicey. It later wound down its multichain wallet.The episode lands at a rough time for crypto users. Just yesterday, unknown hackers swiped more than $380 million in Ethereum and other crypto assets from the Bitget exchange in what is now the biggest crypto hack of the year.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.Your EmailGet it!Get it!","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2670426182","isCrawlerRequest":true}