That round of white-hat rescue hasn’t finished yet—what’s worth watching is: closing the site ≠ revoking the contract; old approvals are still on-chain, draining funds.

It’s not that the Magic Eden frontend was breached. The issue is Limit Break’s Payment Processor V2 (the EVM settlement protocol from ME in 2024). The platform has been shut down, and the `Approve for All` hasn’t expired.

1️⃣ Magic Eden Official Mid-Cycle Update: V2 is the Limit Break protocol; ME was discontinued in Oct 2024, and the EVM market was shut down in Q1 2026; current open orders are unaffected; we’ve contacted Limit Break to pursue remediation such as pausing the rollout.

2️⃣ White-hat 0xQuit (Yuga Labs): Rescued about 23,155 NFTs (claims valuation > $5.7M), but roughly 660 $WETH were missed; on ApeChain, V3 can be paused, while Ethereum V2 cannot.

3️⃣ CryptoTicker on-chain recap (as of ~12:40 UTC): about 530.7 $WETH flowed out from 911 addresses (about $1.43M at the then-current price), along with USDC, WAPE, etc. Zero-price NFT transfers later in the day are still ongoing—rescue addresses and suspected copycats coexist. Everyone’s numbers differ; verify against official/on-chain data.

4️⃣ Action: use Revoke.cash to revoke Payment Processor V2 (Ethereum/Polygon/Base: `0x9A1D00bEd7CD04BCDA516d721A596eb22Aac6834`) and ApeChain V3. Canceling a listing isn’t enough. A hardware wallet can’t stop the authorizations you signed back then. Revoke before the “rescue” NFT returns—don’t click any DMs saying “it will be returned.”

My take: what’s being shut down is the website, not the on-chain permissions. Next up, wait for Limit Break’s official post-mortem and a verifiable return process—until it’s out, don’t treat “the white hats rescued it” as “the hole has already been filled.”

≠ Bitget hot wallet incident ≠ pure price action

Source: Magic Eden X mid-term update / CryptoTimes / CryptoTicker / Revoke.cash

Not investment advice.

#NFT #Web3 #MagicEden #LimitBreak