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Bored Ape Maker Yuga Labs Rescues Dozens of Ethereum NFTs From Exploit
Yuga Labs, the team behind the Ethereum NFT collection Bored Ape Yacht Club, rescued approximately $570,000 worth of NFTs from an exploit that affected the defunct liquidity platform Floor Protocol on Sunday.
The whitehat operation, which led to the rescue of 29 Bored Apes and two CryptoPunks, among others, was conducted by the NFT firm after it discovered a morning exploit on Floor Protocol could be extended to other significant collections, like its Bored Apes.
“After digging deeper, we found another related exploit path that could be used against additional vulnerable Flooring pools,” said pseudonymous Yuga Labs VP of Blockchain 0xQuit on X.
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Yuga Labs Completes Emergency Recovery of At-Risk NFTs, Including BAYC and CryptoPunks
Yuga Labs said it has completed an emergency recovery operation for high-value NFTs exposed to a security vulnerability in the NFT lending protocol Flooring Protocol.
Chief Executive Officer Michael Figge wrote on X on June 8 that the company had finished a white-hat recovery of NFTs put at risk by the flaw discovered on Flooring Protocol.
The recovered NFTs are being held by Yuga Labs. They include 29 Bored Ape Yacht Club tokens, four Mutant Ape Yacht Club tokens, one Bored Ape Kennel Club token, two CryptoPunks, one Azuki, two Elementals, 26 Captains, one Moonbirds and two Doodles.
Yuga Labs said it proactively deployed the funds and NFTs needed for the rescue through its over-the-counter desk, GrailsOTC.
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