Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Munchables exploiter agrees to return $62.5 million stolen in user funds

Source Fxstreet

Munchables, a Web3 project on the Blast blockchain, was exploited for $62.5 million by a developer on Wednesday.
Researcher Zachxbt said the hacker made a profit of 17,400 Ether after investigating the attack.
The project announced that the developer has agreed to return user funds with no conditions.

The developer of Munchables, a crypto game that suffered a hack of $62.5 million, will return the user funds stolen and make them whole, according to a statement from the project released Wednesday. Munchables, which is built on the layer-2 blockchain Blast, said a few hours earlier that it had been compromised.

Munchables exploiter ready to return user funds.

Munchables was drained of $62.5 million in user funds, early on Wednesday.

Munchables has been compromised. We are tracking movements and attempting to stop the the transactions. We will update as soon as we know more.
— Munchables (@_munchables_) March 26, 2024

The project acknowledged the hack in a tweet on X, and within hours shared an update on fund recovery. The Web3 game informed users that all funds are safe and no lockdrops will be imposed.

The developer considered responsible for the exploit shared all private keys with the team and aided in the recovery of user funds. The key, which holds over $62.5 million and 73 Wrapped Ethereum (WETH), has been returned to the team and Munchables announced a recovery of user funds.

Crypto researcher Zachxbt investigated the loss of user funds and said it identified links between a North Korean hacker and a developer associated with the Munchables project.

This is what happens when a North Korean dev is hired
— ZachXBT (@zachxbt) March 26, 2024

Users need to be aware of recovery links from spam accounts posing as Munchables and announcing refunds and giveaways. Here is the official tweet of the Web3 game:

All user funds are safe, lockdrops will not be enforced, all blast related rewards will be distributed as well. Updates to follow in the coming days. https://t.co/ZukNfTFTWf
— Munchables (@_munchables_) March 27, 2024

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

8 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols