Munchables Adjusts Security Measures After Theft of $68 Million

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by Giorgi Kostiuk

3 years ago

Made with AI

Munchables, an NFT game, recently experienced a theft of over 17,400 Ethereum (ETH) by one of its own developers. Fortunately, the funds were returned without a ransom, prompting the developer to implement new security measures to prevent future incidents.

To enhance security, Munchables has brought on new signers for multisig contracts, including investment firm Manifold Trading, market maker Selini Capital, and blockchain investigator ZachXBT. Additionally, developers from these firms will audit and upgrade contracts and oversee future hiring processes.

The platform will be audited by Ethereum infrastructure firm Nethermind before relaunching. Returning users will be eligible for higher rewards, and financial support will be provided to those involved in the recovery process.

Munchables has warned users against interacting with refund websites, as refunds will be sent directly to their wallets. In March alone, nearly $100 million in digital assets were stolen, with over 30 hacking incidents occurring. Despite this, 52.8% of hacked funds were returned. The incident at Munchables was among the top five security breaches in terms of lost value.

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