UPDATED: March 27, 2024, 4:56 a.m. EDT
Munchables, a Blast-based gaming platform, saw the return of $62 million in ETH to a multisig wallet after a significant financial setback reported yesterday due to unauthorized transactions.
The incident began when Munchables announced a security hack, with suspicion directed toward an internal team member. Investigative efforts by on-chain detective ZachXBT have suggested that the person involved may be linked to North Korean hackers, but this remains unclear.
The project’s smart contracts had granted the developer in question the power to transfer funds at their discretion, a capability misused in this case.
Later, Munchables update that the developer had agreed to unconditionally relinquish the private keys to the wallet containing Munchables assets.
Onchain data shows that the wallet returned the misappropriated funds. A total of 17,412.6 ETH, worth approximately $62.8 million, was redirected to a 2/3 multisig wallet, as note by security company BlockSec. This portfolio now contains $97 million in total assets, including the $62.8 million restored and previously unrestricted funds.
“All user funds are safe”, Munchables declared, adding that it will provide further updates in the coming days.
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