$5.7 million, 23,155 NFTs — that's the scale of assets white hat hackers managed to rescue after a legacy approval mechanism on Magic Eden was left exposed. According to The Block, the issue stemmed from a batch of token operation permissions previously granted to the platform that were never revoked over time, creating an exploitable gap for attackers.
Before these legacy approvals could be further exploited, white hats stepped in and moved the affected 23,155 NFT tokens to safety, with a total value of approximately $5.7 million. This type of "legacy approval" issue isn't new to NFT or token platforms — once a user's early-granted operation permissions go unrevoked, they can remain on-chain indefinitely, becoming a potential entry point for attackers down the line.
The Block's report did not specify which NFT collections were involved, which blockchain network was affected, or the exact timing of the incident. Magic Eden has not issued any further statement on the matter as of press time.
