A crypto game built on the layer-2 blockchain Blast lost more than 60% of the total value of assets on its platform after a massive security breach.
Munchables announced the exploit Tuesday in a post on the social media platform X.
“Munchables has been compromised. We monitor movements and try to stop the trades. We will update as soon as we know more.”
Pseudonymous on-chain researcher ZachXBT say The hacker’s wallet address contained 17,400 Ethereum (ETH) worth $62.5 million, representing a large portion of Munchables‘ Total value locked (TVL).
“According to DefiLlama, I had $96 million TVL before the developer raised $62 million.”
ZachXBT quotes data from the chain say the North Korean developer who hired the Munchables team is likely behind the exploit.
“This is what happens when a North Korean developer is hired.
Four different developers hired by the Munchables team and linked to the exploiter are all likely the same person as them:
>recommended each other for the job
>regularly transferred payments to the same two bill deposit addresses
>financed each other’s pockets.”
Fortunately, the hacker decided to return the assets. Munchables say it now has access to the compromised funds.
“The Munchables developer has shared all affected private keys to assist in recovering user funds. Specifically, the key containing $62,535,441.24, the key containing 73 WETH, and the owner’s key containing the rest of the money.
All user funds are safe, lockdrops are not enforced, and all Blast-related rewards are also handed out. Updates will follow in the coming days.”
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Generated image: Midjourney
