Munchables NFT Game Recovers $62 Million Lost In Exploit On Blast

Munchables, an NFT game that is on the newly introduced Ethereum Layer 2 Blast, suffered a $62 million loss on Tuesday night due to an exploit. But yesterday, the team announced that they had recovered all the stolen funds.

Yesterday morning, the Munchables team stated on X that a developer associated with the project decided to share the keys for the complete Munchables funds without giving any condition.

Blast Seeks To Empower Ethereum’s Evolution With Optimistic Rollup Technology

In addition, there are now replies from fake Munchables accounts, prompting users to check if they’re eligible to reclaim funds by clicking a link.

Blast, just like Coinbase’s Base, Optimism, and Arbitrum, is a Layer-2 scaling solution that has experienced quick expansion following the launch of its mainnet in February. By Wednesday morning, it became the fourth-largest L2, with approximately $2.7 billion in total locked value and nearly tied with Base.

Furthermore, Blast has been preparing for a $1.3 billion airdrop campaign in May. The Blast team unveiled a guide on how developers and users can acquire Blast Points by building on or utilizing the L2, this was disclosed earlier this year.

Blast’s principal concentration lies in its implementation of optimistic roll-up technology, an innovative strategy for processing transactions that can revolutionize the Ethereum ecosystem.

Unlike the traditional Ethereum mainnet, which secures transaction processes individually, optimistic rollups integrate multiple transactions into a single batch. It also reduced the computational resources required for each transaction.

Blast’s distinctive incentive device allows customers to contribute to the network’s security and receive rewards in return.

By staking their ETH tokens, customers serve as validators, in charge of confirming the validity of transactions included in rollups. This method ensures the security and integrity of the Blast network while preserving decentralization.

The developer disclosed All The Private Keys Involved To Aid In Retrieving The Funds

The phrasing in the team’s announcement and another by Blast and Blur founder, Tieshun Roquerre, indicates that the exploit was done by an internal game team member.

The developer disclosed all the private keys involved to support in retrieving the funds. Particularly, the key that contains 73 WETH, the key that with USD 62,535,441.24, and the owner key that holds the remaining funds.

Shortly after that, it seemed the Munchables team carried out some test transactions and then transferred the 62 million from the hacker wallet to a multiple-signature wallet.

Roquerre, known as Pacman on X, cautioned that Munchables and protocols connected with it such as @juice_finance were impacted. Juice Finance is a point-gathering system to assist users boost their earnings and qualifications for airdrops throughout the Blast domain.