Magic Eden · security
Magic Eden Legacy Approval Exploit Put $5.7M of NFTs at Risk
The exploit abused lingering approvals from Magic Eden's former EVM marketplace; whitehats rescued 23,155 NFTs worth more than $5.7 million, while Revoke.cash later reported at least $2.8 million stolen from users.
Were more than $5.7 million of NFTs stolen?
No. The $5.7 million figure was the reported value of 23,155 NFTs moved into whitehat custody; Revoke.cash later reported at least $2.8 million in NFTs and tokens stolen.
Orbitrum Investor Impact
Did the exploit affect live Magic Eden listings?
No. Magic Eden said it stopped using Payment Processor V2 in October 2024 and shut its EVM marketplace in the first quarter of 2026, so no live listings were affected.
Why does the exploit matter for Magic Eden?
The incident creates a customer-remediation and trust problem tied to legacy infrastructure rather than a current marketplace outage, because old wallet permissions remained exploitable after the EVM marketplace closed.
Which Magic Eden users remain exposed?
Magic Eden warned that users who listed NFTs on its EVM marketplace roughly between February and October 2024 may still have vulnerable approvals. Revoke.cash says unrevoked Payment Processor approvals remain at risk.
Can owners recover the NFTs rescued by whitehats?
Yes. The stated recovery process allows owners to reclaim rescued NFTs after revoking the vulnerable approvals, but revocation cannot recover assets that were already stolen.
What remains unresolved after the exploit?
The final loss total and completion of returns for NFTs held in whitehat custody remain the main unresolved outcomes.
Sources
- The Block — Magic Eden legacy approvals leave $5.7 million in NFTs exposed to exploit before rescue
- Revoke.cash — Magic Eden / Limit Break Hack
Original signal: The Block ↗
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