Magic Eden : Payment processing services in the V... and I'm not sure if this is a good idea.

Magic Eden responds to the Payment Processor V2 vulnerability: Existing listings not affected, NFT listings before October 2024 or affected

According to PANews on September 25, Magic Eden said that the recently discovered vulnerability involves Limit Break-maintained NFT trading protocol Payment Processor V2. Magic Eden stated that this protocol was used for EVM market transaction settlement in 2024; as the platform had stopped using Payment Processor V2 in October 2024, the vulnerability did not affect the valid listing of current Magic Eden, but it may have affected NFTs listed on the Magic Eden EVM Market between February and October 2024.

Which settlement link the breach came from

Payment Processor V2 is an NFT transaction protocol maintained by Limit Break. Magic Eden used the protocol in its EVM marketplace transactions settlement for 2024. The EMV market usually refers to a compatible Ethereum virtual machine environment's NFT trading scenarios, where the settlement protocol handles on chains that are associated with invoices, trades or asset transfers.

Why the current leaflet is not affected

The key time point given by Magic Eden is October 2024. According to the platform, it stopped using Payment Processor V2 in that month. This means that current pending orders are no longer dependent on this protocol for settlement.

February to October, 2024, why he was nominated

While current listings are unaffected, historical listings may still be exposed to the same protocol. Magic Eden specifically mentions that NFTs listed in the Magic Eden EVM marketplace between February and October 2024 could be affected. This time period covers the settlement phase of the platform's use of this protocol.

What's next?

Magic Eden said it is working with Limit Break to investigate and promote progress, including the suspension of asset transfers under the agreement. For NFT market participants, the heart of this incident lies in whether old pending orders still exist that need to be processed or further confirmed after the platform's migration history settlement agreements.