Ethereum (ETH)

Munchables GameFi on Ethereum Layer-2 Suffers $63M Loss Due to Exploit

Jasinth
By Jasinth
1 Min Read
Munchables GameFi on Ethereum Layer-2 Suffers $63M Loss Due to Exploit

The popular GameFi app Munchables, which uses the Ethereum layer-2 solution Blast, was the subject of a massive $62 million attack. The Munchables team confirmed the protocol breach in a public notice dated March 26 at 9:33 p.m. UTC.

According to Blastscan, the exploiter’s wallet currently holds $62.45 million in Ether (ETH). According to DeBank data, the hack occurred at 9:26 a.m. UTC, with the attacker withdrawing a total of 17,413 ETH using the Munchables protocol.

The exploiter transferred $10,700 in ETH by converting Blast ETH back into native ETH over the Orbiter Bridge. Furthermore, at 10:05 PM UTC, the wallet sent a further 1 ETH to a new wallet address. In addition to NFT creature collection, trading, and social features, Munchables allows users to stake Blast ETH and Blast USD to obtain in-game benefits. Munchables has pledged to compensate for the losses.

Read also: Ethereum’s Layer-2 Transaction Volume up 91% as Adoption Soars

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By Jasinth
Jasinth is a creative and skilled crypto content writer with over three years of experience in the field. With a passion for writing and research, she has made a name for herself in the crypto community and financial market with her in-depth analysis and clear explanations of complex topics. She is also a literature enthusiast who loves beautiful clicks.
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