Munchables Games Loses $62 Million in Ether
Key Takeaways
- “Munchables,” an NFT game on the Blast blockchain, was exploited for $62 million due to a security breach.
- The attack was traced to a game developer linked to North Korea.
- The incident sparked debate within the cryptocurrency community about the balance between decentralization and the need for centralized intervention to guard against such exploits.
“Munchables” This is a game that utilizes non-fungible tokens (NFTs) on Blast, an Ethereum Layer-2 blockchain. We suffered a serious security breach.
muncherbles team announced a violation They said on March 26th: We actively track hackers and try to prevent further unauthorized transactions.
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Blockchain analyst ZachXBT Track and share quickly The offender’s wallet address, Ether (ETH) balance reaches 17,400, up to $62.45 million.
ZachXBT said this violation It was an insider job, The game is linked to North Korea and said to have been exploited by one of its developers, known by the pseudonym “Werewolves0943.” He also speculated: The four other developers linked to the exploiter are actually the same individuals.
furthermore, Solidity Developer 0xQuit Explained The hacker Rigged Contract Save Slot To inflate ETH balances before switching to a legitimate-looking contract version. The operation took advantage of a critical time window before security measures were in place, revealing: The attack was planned long before the game’s release.
The cryptocurrency community has joined many others in responding to social media abuses. The Blast team demands that the blockchain be rolled back to its pre-attack state. Adam Cochran, Partner at Cinneamhain Ventures, said: post to:
While I strongly oppose these actions on other chains, I do not accept Blast as a brand of “serious decentralized chain”, but instead as a place for games, experiments, corruption, etc. We’re off-brand so we can intervene to defend the user experience.
Later the Munchables team issued a statementI’m sure User funds are kept safe, no lockdrops apply and all rewards associated with Blast are distributed. Further updates were promised soon.
While the immediate response focuses on mitigating damage and preventing future incidents, the broader implications highlight tensions between innovation and security, ethical considerations when selecting developers, and ongoing debates about centralized intervention in distributed spaces.
Another cryptocurrency exploit was carried out by Jian Wen, a former takeaway employee who was recently convicted of laundering $2 billion in Bitcoin.
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