TREE NEWS update: Attackers exploited legacy NFT and token approvals on Magic Eden, prompting white hats to secure 23,155 NFTs worth more than $5.7 million. Holders still need to revoke the vulnerable contracts’ NFT and token approvals to protect remaining assets.
Magic Eden Legacy Approvals Exploited; White Hats Rescue $5.7M in NFTs
AI take
The rescue prevented a far larger loss, but the underlying issue is stale approvals that many holders likely still carry. The burden now sits with those who granted them, since the exploited contracts remain a live risk until revoked. Whether this prompts routine approval hygiene across marketplaces, or is treated as a one-off cleanup, is the open question.
Generated by AI for reference only.
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