Yuga Labs Completes Emergency Recovery of At-Risk NFTs, Including BAYC and CryptoPunks
Summary
- Yuga Labs said it has completed an emergency recovery operation for high-value NFT assets exposed to a security vulnerability in Flooring Protocol.
- The recovered assets included BAYC, MAYC, BAKC, CryptoPunks, Azuki, Elementals, Captains, Moonbirds and Doodles.
- Yuga Labs said it proactively deployed the necessary funds and NFTs through GrailsOTC and plans to return the recovered NFTs to their original owners once a technical solution is in place.
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Yuga Labs said it has completed an emergency recovery operation for high-value NFTs exposed to a security vulnerability in the NFT lending protocol Flooring Protocol.
Chief Executive Officer Michael Figge wrote on X on June 8 that the company had finished a white-hat recovery of NFTs put at risk by the flaw discovered on Flooring Protocol.
The recovered NFTs are being held by Yuga Labs. They include 29 Bored Ape Yacht Club tokens, four Mutant Ape Yacht Club tokens, one Bored Ape Kennel Club token, two CryptoPunks, one Azuki, two Elementals, 26 Captains, one Moonbirds and two Doodles.
Yuga Labs said it proactively deployed the funds and NFTs needed for the rescue through its over-the-counter desk, GrailsOTC.
The company said it plans to work with the Flooring Protocol development team to return the recovered NFTs to their original owners once a technical solution is in place.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
