3,832 NFTs Moved From Hundreds of Wallets: Why Aren’t They Being Returned Yet?

3,832 NFTs moved from hundreds of wallets because of a possible security vulnerability at Magic Eden have been secured, but their return to their owners is pending until the risk is addressed.

According to Wu Blockchain, a white-hat recovery effort was carried out to protect assets from attackers following security concerns related to the NFT marketplace Magic Eden. Yuga Labs CEO Michael Figge said the issue was discovered a few hours earlier and that the affected assets were being handled by the company’s vice president of blockchain, 0xQuit.

Why Haven’t the NFTs Been Returned Yet?

0xQuit said the NFTs had been secured at an address and would be returned to their original owners once the security risk is eliminated. Thus, securing the assets does not mean the issue has been fully resolved or that returns have begun. No specific date for the return was given.

In a post cited by the source, Cirrus noted that 3,832 NFTs had been moved from hundreds of different wallets. In response, 0xQuit confirmed that the operation was a white-hat recovery. Therefore, these transfers are not being reported as a confirmed NFT theft.

At the time the news was reported, Magic Eden had not yet disclosed the cause of the possible vulnerability or the full scope of the wallets affected by the issue.