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
TradingView Implements Strict Editorial Policy

TradingView has recently established a strict editorial policy that focuses on accuracy, relevance, and impartiality in its reporting.

Fidelity's Fund Aligns with GENIUS Act for Stablecoin Regulation

Fidelity's Fidelity Reserves Digital Fund (FYMXX) aligns with the GENIUS Act to create a regulated market for stablecoin reserves.

Fidelity Launches Reserves Digital Fund for Stablecoin Issuers

Fidelity has launched the Fidelity Reserves Digital Fund (FYMXX), a money market fund aimed at providing compliant reserve backing for stablecoin issuers.

Financial Report Utilizes Data from HKMA and HKEX

A financial report has been compiled using information from the Hong Kong Monetary Authority (HKMA) and Hong Kong Exchanges and Clearing Limited (HKEX). This report aims to provide accurate insights for stakeholders in the financial sector.

Texas Brothers Admit Guilt in $8 Million Crypto Heist

Texas brothers plead guilty to robbing a Minnesota family of over $8 million in cryptocurrency at gunpoint.

Wrench Attacks on Crypto Holders Surge Amid Rising Violence

The recent robbery of a Minnesota family by two Texas brothers highlights a troubling trend of wrench attacks on cryptocurrency holders, prompting law enforcement to raise alarms and investigate these violent crimes.

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