The creators of the GameFi protocol, Munchables, have officially announced that they have successfully recovered the stolen funds amounting to $63 million. The recovery comes one week after the hack took place on March 26th, with the hacker going by the name Werewolves0943. It is now public knowledge that the hack compromised all of Munchables’ private wallets, which operated on the Ethereum layer-2 protocol of Blast.
As part of the recovery strategy, Munchables has enlisted the help of Misha Panfilov, a well-known blockchain detective, to join their four-member multi-signature wallet team. This team, which also includes members from Manifold Trading, Selini Capital, and Munchables, is now complete and fully dedicated to safeguarding the assets. Additionally, ZachXBT, a renowned expert in blockchain security, has temporarily joined the team during the initial phase of the operation. However, it is important to note that his involvement will be limited due to the transparency required in the rotation of signers.
To regain the trust of its users, Munchables has assured that all affected assets have been recovered and will be returned directly to the owners’ wallets. Furthermore, the developers are offering “massive multiples game rewards” in the form of coins to compensate depositors who lost their assets to the hackers. Those who have actively fought against the hackers, including both custodians and users, will also be compensated using funds from the ETH pot and future MUNCH contributions. This gesture of solidarity acknowledges the collective effort in the recovery process and the bravery displayed in the team’s crisis response.
In order to prevent future breaches, Munchables has implemented enhanced security measures. They are proposing Nethermind to audit and verify the renewed contracts, ensuring the platform’s protection. The team is also considering NFT migration and additional settings to significantly improve the user experience. Future developments will be disclosed at the appropriate time, showcasing Munchables’ commitment to innovation and expansion.
The successful recovery of the hacked funds is a significant milestone for Munchables and its community. The appointment of ZachXBT as the new Security Officer, along with the implementation of stringent security measures, further solidifies the trustworthiness of the Positive mobile wallet in the cyber world. As the project continues to evolve, the focus will be on maintaining high-quality security, confidentiality, and innovation, ultimately providing users with a top-notch gaming experience.
