Blockchain Sleuth ZachXBT Joins as Custodian for Munchables' Hacked User Funds Recovery
Summary:
Noted blockchain investigator, ZachXBT, is appointed as one of four custodians for the wallet holding recovered funds of GameFi protocol Munchables' hacked users. Other custodians include Manifold Trading, Selini Capital, and Munchables. Promising to scrutinize all new contracts with Nethermind before implementation, Munchables developers confirm that all users' assets have been retrieved, and refunds will be sent directly back to their wallets. As a reward, the returning depositors might receive substantial increases in game rewards, and those who assisted in repelling the attack will receive "ETH and future MUNCH donations.
ZachXBT, a well-known blockchain investigator, has been appointed as one of the four stewards of a multi-signature wallet that holds the recovered funds of Munchables' users, a GameFi protocol that was hacked recently. As written in Munchables' developers' statement on April 1, ZachXBT ranks as the fourth guardian of the multi-sig wallet, finalizing the secure process of restoring user assets. The other three custodians are Manifold Trading, Selini Capital, and Munchables itself. Additionally, Nethermind will be appointed to scrutinize all new contracts prior to their implementation, as maintained by the Munchables team. It was confirmed that all users' assets have been successfully retrieved, and recompenses will be sent directly back to users’ wallets, from where they were exploited.
Reacting to the news, ZachXBT said, “I will be temporarily serving as a signing authority in the multi-sig for the initial phase,” before adding that he doesn’t plan on being a long-term member of the multi-sig and anticipates that any changes in the signing members will be communicated by the team.
As an incentive for the returning depositors, developers have hinted at "significant increases in game rewards". The platform also plans to reintroduce itself with plans for NFT migration and other new features soon. Custodians and users who assisted in repelling the attack will receive "ETH and future MUNCH donations" as a token of gratitude. Reflecting on the recovery process, the developers of Munchables quoted the ancient philosopher Confucius: "We have two lives to munch, and the second starts when we realize we only have one."
Munchables, which operates on the Ethereum layer-2 network, Blast, was compromised for $63 million on March 26. This came after they reportedly hired a North Korean developer known as “Werewolves0943,” who ended up breaching the game’s private wallets. ZachXBT noted in a follow-up analysis that the infiltrator was posing as four separate developers from the Munchables team. Since being found out, the rogue Munchables developer has, curiously, shared private keys for user funds without any conditions attached.
Published At
4/2/2024 12:28:36 AM
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