Munchables exploited for $62.5 million, hacker agrees to return the funds

Munchables, a Web3 project on the Blast blockchain, was exploited for $62.5 million by a developer on Wednesday.
Researcher Zachxbt said the hacker made a profit of 17,400 Ether after investigating the attack.
The project announced that the developer has agreed to return user funds with no conditions.

The developer of Munchables, a crypto game that suffered a hack of $62.5 million, will return the user funds stolen and make them whole, according to a statement from the project released Wednesday. Munchables, which is built on the layer-2 blockchain Blast, said a few hours earlier that it had been compromised.

Munchables exploiter ready to return user funds.

Munchables was drained of $62.5 million in user funds, early on Wednesday.

Munchables has been compromised. We are tracking movements and attempting to stop the the transactions. We will update as soon as we know more.
— Munchables (@_munchables_) March 26, 2024

The project acknowledged the hack in a tweet on X, and within hours shared an update on fund recovery. The Web3 game informed users that all funds are safe and no lockdrops will be imposed.

The developer considered responsible for the exploit shared all private keys with the team and aided in the recovery of user funds. The key, which holds over $62.5 million and 73 Wrapped Ethereum (WETH), has been returned to the team and Munchables announced a recovery of user funds.

Crypto researcher Zachxbt investigated the loss of user funds and said it identified links between a North Korean hacker and a developer associated with the Munchables project.

This is what happens when a North Korean dev is hired
— ZachXBT (@zachxbt) March 26, 2024

Users need to be aware of recovery links from spam accounts posing as Munchables and announcing refunds and giveaways. Here is the official tweet of the Web3 game:

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. https://t.co/ZukNfTFTWf
— Munchables (@_munchables_) March 27, 2024

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.