Munchables, a nonfungible token (NFT) game that was built on the Ethereum layer-2 blockchain Blast, has been the victim of a massive hack, which has resulted in a loss of $62 million.
The game made the disclosure of the breach in a post that was published on X on March 26. In the article, the game stated that it was actively monitoring the activity of the exploiter and seeking to stop the transactions.
0xQuit, a developer of Solidity, claims that the assault on Munchables was planned in advance. A new implementation of the Lock contract, which is designed to lock tokens for a set length of time, is said to have been improved by one of the devs just before the launch of the game
It was explained by 0xQuit that the attacker took advantage of the manual manipulation of storage slots in order to assign himself a deposited balance of one million ether prior to the upgrade. The amount was then withdrawn by the exploiter once the total value locked (TVL) reached a level that produced a profitable profit.
After the exploit, Adam Cochran, a partner at Cinneamhain Ventures, made the observation that although it might not establish a positive precedent for future events, it would align with Blast's brand to act
In addition to this, Cygaar requested that the Blast team step in and restore the chain to a state that existed prior to the attack. Still others, on the other hand, were opposed to centralized involvement, arguing that it was in direct opposition to the values that underpin decentralized networks.
The scenario has spawned a debate regarding the appropriate response, with discussions ranging from the prospect of an invalid state root being pushed by the Blast team to a total halt of the chain to fix the issue,
as recommended by Cygaar. The argument has been sparked by the situation.
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