Munchables Announces Security Enhancements Following $63m Theft Incident

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI


In light of the recent theft of nearly $62.5 million by an in-house developer, NFT game Munchables has revealed plans to prevent such incidents from happening again. The developer has made changes to the team structure and enlisted the help of reputable entities like Manifold Trading, Selini Capital, and ZachXBT to enhance the security of the project's funds and smart contracts. These entities will play a role in auditing and upgrading contracts as well as overseeing the developer hiring process. Nethermind will conduct a thorough audit of the revised contracts before the game is relaunched. In addition to improving security measures, Munchables has pledged to provide financial support to those involved in the recovery of stolen funds. Refunds will be distributed directly to users' wallets, and caution is advised against contacting separate websites for refunds. Despite security breaches in the crypto sphere amounting to losses of over $100 million in March, efforts have been made to recover a significant portion of the compromised funds. Munchables' incident was one of the highest-ranking security events in terms of value lost, amongst others such as the Curio hack and the Prisma Finance incident. Despite a reduction in losses from February, March's figures remain higher than those of January, signaling ongoing challenges in the security of the crypto market.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Payward Joins Project Glasswing to Boost Cybersecurity Efforts

chest

Payward, the parent company of Kraken, has joined Anthropics Project Glasswing to enhance cybersecurity by utilizing Claude Mythos 5 for identifying security vulnerabilities.

user avatarRajesh Kumar

Nvidia's Stock Shows Resilience Amid Analyst Optimism

chest

Nvidia's stock shows resilience with optimistic analyst ratings despite a minor decline.

user avatarFilippo Romano

Nvidia Announces Major Investment in OpenAI's AI Data Centers

chest

Nvidia plans to invest up to $105 billion to assist OpenAI in developing new AI data centers, securing significant computing capacity.

user avatarLucas Weissmann

Ethereum Developers Propose Changes for Privacy Pools

chest

Ethereum developers are considering proposals for privacy pools to pay their own transaction fees, focusing on Frame Transactions and ForkChoice Enforced Inclusion Lists for the 2027 Hegot upgrade.

user avatarEmily Carter

SpaceX's Historic IPO and Billionaire Backing

chest

SpaceX's IPO in June saw its stock price initially soar but has since faced volatility, with significant investments from billionaires.

user avatarTomas Novak

Strategy Halts Bitcoin Transactions for the Week

chest

Strategy did not engage in any Bitcoin purchases or sales last week, maintaining its holdings at 840,447 BTC.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.