Munchables exploiter agrees to return $62.5 million stolen in user funds
- Munchables, a Web3 project on the Blast blockchain, was exploited for $62.5 million by a developer on Wednesday.
- Researcher Zachxbt said the hacker made a profit of 17,400 Ether after investigating the attack.
- The project announced that the developer has agreed to return user funds with no conditions.
The developer of Munchables, a crypto game that suffered a hack of $62.5 million, will return the user funds stolen and make them whole, according to a statement from the project released Wednesday. Munchables, which is built on the layer-2 blockchain Blast, said a few hours earlier that it had been compromised.
Munchables exploiter ready to return user funds.
Munchables was drained of $62.5 million in user funds, early on Wednesday.
Munchables has been compromised. We are tracking movements and attempting to stop the the transactions. We will update as soon as we know more.
— Munchables (@_munchables_) March 26, 2024
The project acknowledged the hack in a tweet on X, and within hours shared an update on fund recovery. The Web3 game informed users that all funds are safe and no lockdrops will be imposed.
The developer considered responsible for the exploit shared all private keys with the team and aided in the recovery of user funds. The key, which holds over $62.5 million and 73 Wrapped Ethereum (WETH), has been returned to the team and Munchables announced a recovery of user funds.
Crypto researcher Zachxbt investigated the loss of user funds and said it identified links between a North Korean hacker and a developer associated with the Munchables project.
This is what happens when a North Korean dev is hired
— ZachXBT (@zachxbt) March 26, 2024
Users need to be aware of recovery links from spam accounts posing as Munchables and announcing refunds and giveaways. Here is the official tweet of the Web3 game:
All user funds are safe, lockdrops will not be enforced, all blast related rewards will be distributed as well. Updates to follow in the coming days. https://t.co/ZukNfTFTWf
— Munchables (@_munchables_) March 27, 2024
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
