Munchables, an NFT game based on the Ethereum platform, has unveiled new security measures. This move comes after a significant setback when nearly 17,400 Ether, valued at roughly $62.5 million, was stolen by a hacker. The twist in the tale was the hacker’s identity as an in-house developer. Fortunately, the developer returned the funds shortly after, without demanding any ransom.
To prevent such incidents in the future, Munchables is enhancing the security of its project’s funds and smart contracts. The game’s developers are introducing a series of upgrades. Key among these changes is the involvement of three notable entities: Manifold Trading, Selini Capital, and blockchain investigator ZachXBT. These firms are now part of the project’s multisig signers, a strategic move to safeguard user assets.
Further strengthening the security framework, developers from Manifold Trading and Selini Capital will undertake a re-audit and improvement of the contracts. They will also play a crucial role in overseeing the hiring process for Munchables’ future development team. Moreover, Nethermind, a firm specializing in Ethereum infrastructure, is set to conduct a comprehensive audit of the updated contracts.
Enhanced Player Rewards and Support Measures
Upon its relaunch, Munchables is set to offer returning players increased rewards as a gesture of goodwill. Additionally, the platform commits to financially support those who contributed to the recovery process. Players are advised to refrain from seeking refunds through external websites, as the refunds will be processed directly to their wallets.
The incident at Munchables underscores a larger trend of security challenges within the cryptocurrency sector. PeckShield, a blockchain security firm, highlighted that March saw around $100 million in digital assets stolen across over 30 hacking incidents. However, there’s a silver lining as more than half of the stolen funds were successfully recovered. Despite this, the Munchables event stands out as one of the top security breaches in terms of value lost.