Security Reminder: Users Who Have Traded NFTs on the Magic Eden Ethereum Marketplace Should Stay Alert
Magic Eden says Ethereum Virtual Machine NFT listings from February to October 2024 may be affected by a Limit Break vulnerability
On September 26, BlockBeats reported that RevokeCash warned users who had traded NFTs on Magic Eden's Ethereum marketplace. The warning said those wallets may have approved the Payment Processor contract associated with Limit Break, and the contract now has a known vulnerability. RevokeCash recommended revoking the approval.
Scope of affected listings
Magic Eden said the previous day that NFTs currently listed on its marketplace are not affected. It said NFTs listed through its Ethereum Virtual Machine marketplace around February 2024 through October 2024 may be affected. Listings made after October 2024 are, in principle, not affected. This gives users a date-based way to check urgency rather than treating all past Magic Eden activity as equally exposed.
Networks and revocation steps
Users who listed or traded on the Ethereum Virtual Machine marketplace should revoke related contract approvals on Ethereum, Polygon, and Base. Magic Eden said users can use revoke.cash to filter the relevant address and revoke approvals marked "approved for all." Broad approvals can allow a contract to manage NFTs in a wallet, so removing them reduces exposure while the vulnerability and its impact are still being investigated.
Magic Eden is contacting Limit Break, which it described as the protocol owner and maintainer, to study additional risk mitigation measures, including suspending protocol transfers. The platform said it will continue investigating the actual impact range.
Claim site for protected NFTs
Quit, Yuga Labs blockchain vice president, said the asset claim website for the Payment Processor vulnerability theft incident has gone live. Users whose NFTs were successfully protected can now claim them, but must first revoke approval to the Payment Processor. That makes revocation a prerequisite for recovery, not just a security precaution.
Risk Warning
This article is only compiled from publicly available information and does not constitute investment advice. Crypto assets and NFT-related tokens can be highly volatile, and prices may change rapidly without warning. Readers should independently verify key details, consider their own risk tolerance, and consult qualified professionals before making any decision. Always exercise caution and make informed, rational judgments.
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