Blast Game ‘Munchables’ Recoups Over $62M – Developer Breach?

In a highly unfortunate turn of events, the Blast NFT game ‘Munchables’ lost over $62 million late last night owing to a security breach. Many resources are blaming the developer behind the project. 

Adding to the suspicion, an X update in the early hours this morning revealed the project’s developer quickly disclosed all private keys following the hack, including those safeguarding $62,535,441.24 (73 WETH) and an owner key said to hold additional funds.

Proceeding with caution to get the capital back, the project’s team performed several trial transactions that ultimately allowed over $62 million to be moved from the developer’s wallet into a secured multi-signature wallet.

Swift actions led by the Munchables team—notably including a compensation treasury for ETH deposits at http://allocation.munchsable.com—reassured community members about the safety of their assets. 

Wider Ripple Effects 

The founder of Blast, Tieshun Roquerre (Pacman), announced on X that the problems caused by the incident didn’t just affect Munchables but also touched related systems like Juice Finance.

Juice Finance enhances yield and airdrop qualifications in the Blast ecosystem. Consequently, this event is a stark reminder to other decentralized platforms of the potential security risks within interconnected network frameworks.

Moreover, the endeavor to restore normalcy was complicated by the appearance of counterfeit Munchables accounts, which attempted to lure unsuspecting users with deceitful links to recover funds. 

Blast’s Role in the L2 Arena

Among its competitors such as Arbitrum, Optimism, and Base—the latter being birthed through Coinbase’s incubator—Blast has made commendable progress as a Layer-2 (L2) solution.

With a remarkable $2.7 billion in total value locked, Blast now ranks as the fourth-largest L2 platform. Additionally, the anticipation of a $1.3 billion airdrop slated for May has been building, stimulating further activity and growth for the network.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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