Whitehat rescues $500,000 in NFTs after flooring exploit

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Developers associated with Yuga Labs rescued 68 non-fungible tokens from Flooring Protocol after an exploit compromised NFTs from collections such as Bored Apes and CryptoPunks.

Yuga Labs CEO Michael Fidge said Monday that the recovered NFTs are currently in the company’s custody and will be returned once a solution is completed.

Yuga’s pseudonymous blockchain vice president, 0xQuit, said the recall covered more than $500,000 worth of NFTs.

sauce: michael fidge

in spite of, $NFT During the market cooldown, some collections still maintain high floor prices. CryptoPunks lowest price was around 32.7 $ETH ($54,612), Bored Ape Yacht Club NFT was about $9.16 $ETHAccording to CoinGecko.

Flooring protocols were already ending

The incident affected the protocol, which had already reduced some of its features for consumers. $NFT work.

Floor Protocol announced in September 2025 that its Web3 consumer service was entering sunset mode and advised FPv2 token holders to redeem their NFTs and close their fractional positions by October 15, 2025.

The former CEO of Free Lunch Capital said the protocol faced liquidity issues and organizational changes that left some in the lurch. $NFT Unmanaged department.

Free Lunch Capital said it will continue to provide liquidity and retain some of its own liquidity. $NFT It added that it leveraged assets on the platform to help users exit their positions, and these assets were the main target during the abuse.

Free Lunch Capital said it is in talks with the parent group behind its management team to take back control of the protocol.

$NFT Market remains well below peak levels

Although it has fallen significantly from its peak, $NFT The market is still worth billions of dollars. What the CoinGecko data shows overall $NFT Its market capitalization rose to about $2 billion in late April and early May, but had fallen to $1.4 billion by Monday.