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.
Munchables Announces Security Enhancements Following $63m Theft Incident

by Giorgi Kostiuk
2 years ago

Other news
MicroStrategy's Bitcoin Yield Update Highlights Corporate Treasury Strategy

MicroStrategy's latest update on Bitcoin Yield emphasizes its strategy of Bitcoin treasury management, addressing investor concerns about the company's value creation beyond holding BTC.

BNB Chain Investigates Quantum-Resistant Security Measures

BNB Chain is researching quantum-resistant security measures to protect against potential threats from advanced quantum computers.

BNB Chain Introduces New Layer-1 Blockchain for Enhanced Trading Capabilities

BNB Chain announces plans for a new layer-1 blockchain designed to support high-frequency trading and AI-driven transactions, set to launch in 2026.

XRP Ledger Development Continues Amid Regulatory Scrutiny

The latest release of the XRP Ledger highlights ongoing development and improvements in the protocol, emphasizing the importance of functionality beyond regulatory headlines.

Uniswap Introduces New Editorial Standards

Uniswap has recently implemented a strict editorial policy that focuses on accuracy, relevance, and impartiality to enhance the quality of information on its platform.

Stripe Reinforces Its Editorial Standards

Stripe has announced a strict editorial policy that focuses on accuracy, relevance, and impartiality in its reporting.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter