A crypto game built on the layer-2 blockchain Blast lost over 60% of the total value of assets on its platform following a massive security breach.
Munchables announced the exploit on Tuesday in a post on the social media platform X.
“Munchables has been compromised. We are tracking movements and attempting to stop the transactions. We will update as soon as we know more.”
Pseudonymous on-chain researcher ZachXBT says the hacker’s wallet address held 17,400 Ethereum (ETH) worth $62.5 million, which represents a large portion of Munchables’ Total Value Locked (TVL).
“Had like $96 million TVL according to DefiLlama before dev drained $62 million.”
Citing on-chain data, ZachXBT says the North Korean developer that the Munchables team hired is likely behind the exploit.
“This is what happens when a North Korean dev is hired.
Four different devs hired by the Munchables team and linked to the exploiter are likely all the same person as they:
>recommended each other for the job
>regularly transferred payments to the same two exchange deposit addresses
>funded each other’s wallets.”
The hacker fortunately decided to return the assets. Munchables says it now has access to the compromised funds.
“The Munchables developer has shared all private keys involved to assist in recovering the user funds. Specifically, the key which holds $62,535,441.24, the key which holds 73 WETH, and the owner key which contains the rest of the funds.
All user funds are safe, lockdrops will not be enforced, all Blast-related rewards will be distributed as well. Updates to follow in the coming days.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney