Magic Eden Legacy Approval Exploit Risked $5.7M in NFTs
Magic Eden's legacy approval system exposed $5.7 million in NFTs to a potential exploit. Whitehat hackers rescued 23,155 tokens before attackers could act.
How many other dormant approvals, across how many marketplaces, remain unexamined right now? Every NFT platform that has upgraded its contracts over the years likely carries some legacy permissions users forgot to revoke. This incident raises a broader question for the industry: should approval expiration become a standard, built-in feature of marketplace design, rather than something individual users must remember to manage themselves indefinitely?
https://www.bonuz.xyz/en/blog/magic-eden-approval-exploit-5-7-million-nfts
Magic Eden's legacy approval system exposed $5.7 million in NFTs to a potential exploit. Whitehat hackers rescued 23,155 tokens before attackers could act.
How many other dormant approvals, across how many marketplaces, remain unexamined right now? Every NFT platform that has upgraded its contracts over the years likely carries some legacy permissions users forgot to revoke. This incident raises a broader question for the industry: should approval expiration become a standard, built-in feature of marketplace design, rather than something individual users must remember to manage themselves indefinitely?
https://www.bonuz.xyz/en/blog/magic-eden-approval-exploit-5-7-million-nfts
