Magic Eden warns users of vulnerabilities in NFTs listed on its EVM marketplace due to an exploit in Limit Break's Payment Processor V2.
Magic Eden Issues Warning on NFT Listings
Magic Eden has alerted its users regarding potential vulnerabilities affecting NFTs listed on its previously operational Ethereum Virtual Machine (EVM) marketplace between February and October 2024. The concern arises from an exploit involving Limit Break's Payment Processor V2, which may have compromised these listings.
Despite the marketplace ceasing its EVM operations in October 2024 and shutting down entirely in early 2026, the risks remain for users who had transactions during that period. The company reassured that no current listings are impacted by the exploit.
In a recent disclosure, 0xQuit, a member of Yuga Labs, reported that a whitehat operation successfully salvaged over 23,155 NFTs worth around $5.7 million. Unfortunately, 660 wrapped Ethereum (WETH) was not recoverable after being exposed to the exploit's reverse variant.
Steps to Protect Assets
The vulnerability stems from ongoing user approvals granted to contracts, which persist until manually revoked. Magic Eden has advised affected users to revoke their V2 contract permissions across Ethereum and its compatible networks—Polygon and Base—using Revoke.cash. However, this action will not retrieve NFTs that have already been transferred.
At 9AM EST today, someone exploited a bug in Payment Processor V2 to steal 10 Meebits, 50 Otherdeeds, 10 World of Women NFTs, and 235 Desperate Apewives.
— Quit (@0xQuit) September 25, 2026
Amidst this warning, the crypto sector faces additional challenges, highlighted by a recent incident in which hackers siphoned over $380 million in digital assets from the Bitget exchange, marking one of the year's largest breaches.
