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Munchables retrieves $62.million in Ethereum following breach

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Munchables, an Ethereum-based NFT game, successfully recovered over $62.8 million worth of Ether following a significant security breach on March 26, 2024. The incident was attributed to a North Korean developer.

Initial investigations conducted by experts from PeckShield and ZachXBT revealed that a former Munchables developer, using the alias ‘Werewolves0943,’ was responsible for the exploit.

This individual, previously employed by Munchables, was later tied to North Korea.

ZachXBT confirmed that the four developers the Munchables team attributed to the attack are likely one individual.

Following the breach, Munchables, in collaboration with blockchain investigators, promptly initiated efforts to track the funds and engage in negotiations. Remarkably, the ex-developer ultimately returned the stolen funds without any ransom demand.

“Munchables has been compromised. We are tracking movements and attempting to stop the transactions. We will update as soon as we know more,” said the company’s official X channel.

Later, the company notified the users that the developer had agreed to share the details of the private keys they stole.

“The Munchables developer has shared all private keys involved to assist in recovering the user funds. Specifically, the key which holds $62,535,441.24 USD, the key which holds 73 WETH, and the owner key which contains the rest of the funds,” said the company.

The recovery process was commended by Pacman, the creator of the Blast blockchain, on which Munchables operates, who expressed gratitude towards ZachXBT for their support.

Security firm BlockSec analysed the exploited wallet and found that the stolen have returned and now contains $97 million in total assets.

“All user funds are safe, lockdrops will not be enforced, and all Blast-related rewards will be distributed. Updates will follow in the coming days,” said the company’s X channel.

Despite the successful recovery, concerns remain regarding the security of blockchain-based games and the broader cryptocurrency industry. The incident has reignited discussions within the crypto community about the potential for chain rollbacks to recover stolen funds. However, such measures are controversial due to their impact on blockchain principles.

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Kumar Hemant

Kumar Hemant

Deputy Editor at Candid.Technology. Hemant writes at the intersection of tech and culture and has a keen interest in science, social issues and international relations. You can contact him here: