Blur’s frontend is shutting down, but approvals are still active
Yuga Labs VP Quit called it out: NFT approvals worth tens of millions of dollars are still sitting in Blur contracts. These contracts have upgrade privileges, and with the team seemingly on its way out, leaving those approvals in place means your asset security depends on how well someone else operates.
Last month, several million dollars were drained from Magic Eden-related contracts, though some of it was recovered. An approval is basically a pass that lets the other party change the terms at any time. Change the logic once, and the assets in your wallet could be gone.
If you still have NFTs with active approvals, are you going to revoke them now—or bet that the team won’t disappear?
Yuga Labs VP Quit called it out: NFT approvals worth tens of millions of dollars are still sitting in Blur contracts. These contracts have upgrade privileges, and with the team seemingly on its way out, leaving those approvals in place means your asset security depends on how well someone else operates.
Last month, several million dollars were drained from Magic Eden-related contracts, though some of it was recovered. An approval is basically a pass that lets the other party change the terms at any time. Change the logic once, and the assets in your wallet could be gone.
If you still have NFTs with active approvals, are you going to revoke them now—or bet that the team won’t disappear?