Yuga Labs rescues 68 NFTs after Flooring Protocol exploit

Yuga Labs' rescue of 68 NFTs from Flooring Protocol pools underscores pooled custody risk and a 'ghost-ownership' bug. Actionable checks for DeFi users.

Yuga Labs' intervention highlights the critical need for robust security measures in NFT and DeFi protocols to prevent asset vulnerabilities. The post Yuga Labs rescues 68 at-risk NFTs from Flooring Protocol exploit appeared first on Crypto Briefing.

Yuga Labs has rescued about $570,000 worth of NFTs after an exploit affected Floor Protocol on Sunday. The team behind Bored Ape Yacht Club said the operation removed exposed assets before another actor could drain them. The rescued items included…

The Bored Ape Yacht Club creator now holds more than 60 rescued NFTs in its custody as it works to return them to their rightful owners.

Yuga Labs used its GrailsOTC trading desk to pull 68 blue-chip NFTs valued at more than $500,000 out of vulnerable Flooring Protocol pools before attackers could drain them.

Yuga Labs, the company behind Bored Ape Yacht Club and CryptoPunks, completed a covert whitehat operation on June 8 to rescue 68 blue-chip NFTs — worth more than $500,000 — from an active exploit targeting Flooring Protocol, deploying its own funds and acting before additional attackers could drain assets that included some of the most […]

CoinGecko and NFT Price Floor data show NFT market cap has cooled since April, while CryptoPunks and BAYC remain top collections by value.

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