{"id":163748,"date":"2024-03-27T12:47:35","date_gmt":"2024-03-27T12:47:35","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=163748"},"modified":"2024-03-27T12:47:39","modified_gmt":"2024-03-27T12:47:39","slug":"munchables-game-blast-recovers-from-exploit","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/munchables-game-blast-recovers-from-exploit\/","title":{"rendered":"Munchables Game Blast Recovers from $62 Million Exploit, Assures Community Funds Are Secure"},"content":{"rendered":"<p><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/strong><\/p>\n<ul>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Munchables, an NFT game on the Ethereum Layer 2 Blast network, suffered a $62 million loss in an exploit.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The funds were recovered and a compensation fund was announced for affected users.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Registration was opened for the distribution of rewards, with an emphasis on the security of funds and the need to cover gas fees.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In the recent history of cryptocurrencies, <strong>security remains a constant concern.<\/strong><\/span><\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This concern was echoed once again when <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Munchables, an NFT game on the <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ethereum<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> Layer 2 Blast network,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> found itself at the center of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">an exploit that resulted in a massive $62 million loss.<\/span><\/span><\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">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. <a href=\"https:\/\/t.co\/ZukNfTFTWf\" target=\"_blank\">https:\/\/t.co\/ZukNfTFTWf<\/a><\/p>\n<p>&mdash; Munchables (@_munchables_) <a href=\"https:\/\/twitter.com\/_munchables_\/status\/1772873122280038801?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">March 27, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">However, what could have been <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a devastating blow to users and the platform itself<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, was transformed into a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">success story of recovery and security in the<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> <a href=\"https:\/\/crypto-economy.com\/cryptocurrencies-from-a-to-d\/\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> industry<\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The incident occurred when <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">it was discovered that an exploit had led to the loss of a large amount of funds on Munchables.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <a href=\"https:\/\/www.munchables.app\/\" target=\"_blank\" rel=\"noopener\">team<\/a><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">&#8216;s response <\/span><span style=\"vertical-align: inherit\">was <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">quick and decisive.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Through a collaboration with Blast&#8217;s core contributors, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a total of $97 million was secured in a multisig wallet, <\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><strong><span style=\"vertical-align: inherit\">greatly mitigating the impact of the exploit and ensuring the safety of user funds<\/span><\/strong><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In addition to recovering lost funds, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the Munchables team announced the creation of a compensation fund for affected users.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This fund was established to allow <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">those who had deposited ETH to claim their funds within 48 hours<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, providing an additional measure of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">protection and support for the affected community.<\/span><\/span><\/strong><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-81188\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/03\/munch.jpg\" alt=\"Blast's Munchables Recovers from $62 Million Exploit, Ensures Community Funds Are Safe\" width=\"825\" height=\"300\" \/><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The Munchables story doesn&#8217;t end here<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The project also launched registration for reward distribution, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">highlighting the importance of active user participation in the recovery and reward process.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The need for users to visit the official website, connect their wallets and complete the verification process was emphasized, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">with an important warning to cover the associated gas fees to avoid additional setbacks.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">As the cryptocurrency industry continues to evolve, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">this incident serves as a reminder of the importance of security and effectively responding to potential threats.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The quick action taken by the Munchables team and the surrounding community <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">highlights the industry&#8217;s ability to adapt and protect the interests of its users in times of crisis.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">With the implementation of enhanced security measures and continued vigilance, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">trust in the cryptocurrency space can be further strengthened, paving the way for future exciting advancements and developments.<\/span><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Munchables, an NFT game on the Ethereum Layer 2 Blast network, suffered a $62 million loss in an exploit. The funds were recovered and a compensation fund was announced for affected users. Registration was opened for the distribution of rewards, with an emphasis on the security of funds and the need to cover gas &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Munchables Game Blast Recovers from $62 Million Exploit, Assures Community Funds Are Secure\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/munchables-game-blast-recovers-from-exploit\/#more-163748\" aria-label=\"More on Munchables Game Blast Recovers from $62 Million Exploit, Assures Community Funds Are Secure\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":163752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[112,84,74],"tags":[4620,5001,5402],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163748"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=163748"}],"version-history":[{"count":2,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163748\/revisions"}],"predecessor-version":[{"id":163754,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163748\/revisions\/163754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/163752"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=163748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=163748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=163748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}