In a white hat hacking operation, the Vice President of Blockchain at Yuga Labs, known as 0xQuit, successfully transferred 3,832 NFTs from numerous wallets to a secure address. He stated that the assets are safe and will be returned to their rightful owners once the associated risks have been mitigated.

Yuga Labs' CEO, Michael Figge, verified that the vulnerability was discovered just hours prior to the transfer. The incident is linked to contracts on the Magic Eden platform, where some NFTs were recorded as transactions at a price of 0 ETH. As of now, the platform has neither confirmed a hack nor disclosed the cause of the issue, the number of affected wallets, or the value of the moved assets.