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Hacker Munchables Returns $62.8 Million in Ethereum Without Ransom Demand
On March 27th at 4:40 UTC, it was revealed that one of the developers at Munchables was behind the recent hacking incident. After an hour of negotiation, an agreement was reached, in which this former developer pledged to return the stolen funds.
After eight hours of deliberation, the developer, also a hacker from Munchables, decided to return the Ethereum worth $62.8 million, which was stolen during the security breach, without any ransom demand.
The Hack on March 26th and Subsequent Rescue Attempt
On the evening of March 26th, around 21:30 UTC, an attack on the Ethereum-based game Munchables and its non-fungible tokens (NFTs) was announced, during which more than 17,400 ETH was stolen from the GameFi application.
Munchables, along with blockchain experts such as PeckShield and ZachXBT, immediately began tracking the flow of stolen funds in an attempt to recover them.
ZachXBT stated that the attack was carried out by a North Korean developer known as "Werewolves0943."
Successful Negotiation and Fund Return
After identifying the hacker as one of their developers, Munchables conducted negotiations that led to the former employee's decision to return the stolen funds. Munchables mentioned in their official statement:
"Munchables developer provided all the private keys necessary to recover user assets. Among them was the key holding $62,535,441.24, the key with 73 WETH, and the ownership key with other funds."
Pacman, the creator of the Ethereum layer-2 blockchain Blast, thanked ZachXBT for the support and announced that "the former Munchables developer has decided to return all assets without any ransom demands."
As Munchables was built on the Blast blockchain, Pacman plans to collaborate with the Munchables team to help redistribute the now-returned stolen funds.
Warning for Hack Victims
Victims of the attack are advised to only follow official communication channels from Munchables to avoid scams associated with fund returns.
This incident occurred just four days after a hacker stole approximately $24,000 from various addresses of the decentralized finance (DeFi) aggregator ParaSwap. The protocol managed to recover the funds and begin returning them to users.
ParaSwap and Its Problem Resolution
With the help of white hat hackers, ParaSwap managed to resolve the issue and remove permissions for the faulty contract AugustusV6. ParaSwap revealed that 386 addresses were affected by the mistake. However, as of March 25th, it still had to revoke permissions for 213 addresses with the faulty contract, representing additional steps to secure its users and protect against future threats.
ParaSwap's move demonstrates a proactive approach in addressing security threats and returning funds to affected users, fostering trust in the decentralized finance ecosystem.
#hack #munchables #crypto
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
After eight hours of deliberation, the developer, also a hacker from Munchables, decided to return the Ethereum worth $62.8 million, which was stolen during the security breach, without any ransom demand.
The Hack on March 26th and Subsequent Rescue Attempt
On the evening of March 26th, around 21:30 UTC, an attack on the Ethereum-based game Munchables and its non-fungible tokens (NFTs) was announced, during which more than 17,400 ETH was stolen from the GameFi application.
Munchables, along with blockchain experts such as PeckShield and ZachXBT, immediately began tracking the flow of stolen funds in an attempt to recover them.
ZachXBT stated that the attack was carried out by a North Korean developer known as "Werewolves0943."
Successful Negotiation and Fund Return
After identifying the hacker as one of their developers, Munchables conducted negotiations that led to the former employee's decision to return the stolen funds. Munchables mentioned in their official statement:
"Munchables developer provided all the private keys necessary to recover user assets. Among them was the key holding $62,535,441.24, the key with 73 WETH, and the ownership key with other funds."
Pacman, the creator of the Ethereum layer-2 blockchain Blast, thanked ZachXBT for the support and announced that "the former Munchables developer has decided to return all assets without any ransom demands."
As Munchables was built on the Blast blockchain, Pacman plans to collaborate with the Munchables team to help redistribute the now-returned stolen funds.
Warning for Hack Victims
Victims of the attack are advised to only follow official communication channels from Munchables to avoid scams associated with fund returns.
This incident occurred just four days after a hacker stole approximately $24,000 from various addresses of the decentralized finance (DeFi) aggregator ParaSwap. The protocol managed to recover the funds and begin returning them to users.
ParaSwap and Its Problem Resolution
With the help of white hat hackers, ParaSwap managed to resolve the issue and remove permissions for the faulty contract AugustusV6. ParaSwap revealed that 386 addresses were affected by the mistake. However, as of March 25th, it still had to revoke permissions for 213 addresses with the faulty contract, representing additional steps to secure its users and protect against future threats.
ParaSwap's move demonstrates a proactive approach in addressing security threats and returning funds to affected users, fostering trust in the decentralized finance ecosystem.
#hack #munchables #crypto
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Attention my loyal followers! The creators of the project that was attacked ( #munchables ) are spreading reassurance throughout the ecosystem. According to them, they are going to refund the compromised money! #TrendingTopic
They say the following:
"-Don’t- Panic
We’ve allocated a compensatory treasury pool for all users who had #Ethereum✅ Deposited to re-claim their funds."
They say the following:
"-Don’t- Panic
We’ve allocated a compensatory treasury pool for all users who had #Ethereum✅ Deposited to re-claim their funds."
LIVELocademiaCripto
--
Bad news on crypto world, new exploit = more FUD = more fear = more panic = more distrust in the ecosystem. Let's see what happens. I'm preparing in the LocademiaCripto article oven 😉 a guide to fully understand what happened and to show some additional details. Stay close, follow me so you don't miss anything!
👉 The Munchables Exploit on Blast Network
💥 A bug in the Munchables game allowed someone to steal $62M in Ethereum. This happened just one month after Blast Network launched its mainnet.
Blast's response:
- They are investigating the exploit and working on a fix.
- They have offered to compensate affected users.
Impact on trust:
- This exploit could damage Blast Network's reputation.
- It is important to see how Blast responds to the exploit.
Additional details:
- The exploit was likely caused by a bug in the Munchables code.
- It is not clear who is responsible for the exploit.
- The Blast Network is still under development.
Things to keep in mind:
- Cryptocurrencies are complex and can be risky.
- Do your research before investing in any cryptocurrency.
__
#TrendingTopic
👉 The Munchables Exploit on Blast Network
💥 A bug in the Munchables game allowed someone to steal $62M in Ethereum. This happened just one month after Blast Network launched its mainnet.
Blast's response:
- They are investigating the exploit and working on a fix.
- They have offered to compensate affected users.
Impact on trust:
- This exploit could damage Blast Network's reputation.
- It is important to see how Blast responds to the exploit.
Additional details:
- The exploit was likely caused by a bug in the Munchables code.
- It is not clear who is responsible for the exploit.
- The Blast Network is still under development.
Things to keep in mind:
- Cryptocurrencies are complex and can be risky.
- Do your research before investing in any cryptocurrency.
__
#TrendingTopic
The 62M Munchables exploit on Blast Network,Is the story true!?
On Tuesday a big news spread allover the internet that Munchables lost over 62$ on blast network.Aww that was a big news .First lets know about Munchables and Blast network.
Munchables, a web3 gaming platform based on the Ethereum Layer 2 Blast.Blast network is an Ethereum Layer 2 founded by Tieshun Roquerre, who also founded NFT marketplace Blur.
Munchables itself stated through X that the platform had been compromised and suffered a notable transaction by a wallet address contained nearly 17,411 ETH worth $62.5M.
Munchables reported on X (statement copied).
"We are tracking movements and attempting to stop the transactions, We will update as soon as we know more."
Munchables contained $95.62 million in total value locked (TVL) about an hour and a half before the platform reported its exploit, resources fingered to a Korean address to be guilty but till the investigations are continued nothing can be judge, also must wait for an official proper report to be unveiled by Munchables.
As far as ,in 2024 it is the first huge digital loss that is reported.
Let's wait for further progress in this case .
#keepposting #Binancesquare #munchables
#binancecreator
Munchables, a web3 gaming platform based on the Ethereum Layer 2 Blast.Blast network is an Ethereum Layer 2 founded by Tieshun Roquerre, who also founded NFT marketplace Blur.
Munchables itself stated through X that the platform had been compromised and suffered a notable transaction by a wallet address contained nearly 17,411 ETH worth $62.5M.
Munchables reported on X (statement copied).
"We are tracking movements and attempting to stop the transactions, We will update as soon as we know more."
Munchables contained $95.62 million in total value locked (TVL) about an hour and a half before the platform reported its exploit, resources fingered to a Korean address to be guilty but till the investigations are continued nothing can be judge, also must wait for an official proper report to be unveiled by Munchables.
As far as ,in 2024 it is the first huge digital loss that is reported.
Let's wait for further progress in this case .
#keepposting #Binancesquare #munchables
#binancecreator