WETH (WETH)

Pretty damn impressive. Gg @yieldbasis

Minted 20 @MeebitsNFTs Futbol NFTs ⚽️

Had to feel something, haven’t minted something in a while 🙈 https://t.co/MP1d9MkzI0

Someone turned a few dollars of crypto into an infinite balance and started draining Bored Apes and CryptoPunks out of a protocol.

The protocol is Flooring, where you lock an NFT in a contract and get tokens pegged to it 1:1.

Today an attacker deposited a tiny bit of WETH and broke that peg, tricking the contract into thinking he owned far more than he did until a second flaw gave him a near infinite token balance.

He drained the pools with it, then started swapping the worthless tokens back for the real NFTs locked inside, everything from Bored Apes and CryptoPunks to Azukis and Doodles, all sitting in a protocol that had been winding down for months.

That's when Yuga Labs stepped in. The company behind Bored Apes watched its own NFTs getting drained and ran a counter operation with one of its blockchain leads handling the onchain recovery

They saved 68 NFTs worth over $500,000, including 29 Bored Apes and 2 CryptoPunks, now in safe custody and heading back to their owners.

Some didn't make it back but you almost never see a save like this. Usually the money's just gone.