The Munchables Hack on Blast: A Victim’s Perspective
In a shocking turn of events, the Munchables hack on Blast has left many investors reeling from the loss of millions of dollars. This week, the full story of the exploit has come to light, and we, as one of the victims with 5 ETH invested, have a front-row seat to the drama.
What are Munchables?
Munchables are an NFT project on Blast Layer 2 where users lock up ETH for a period to receive NFTs that can be leveled up with Schnibbles. The project seemed promising, with endorsements from crypto influencers and a supposedly audited smart contract.
The Munchables Hack
Just a few days into the project, a rogue developer exploited a loophole in the contract, making off with a staggering 17400 ETH. The hacker, rumored to be from North Korea, left a backdoor in the contract to siphon funds after users had locked up their ETH.
What Happened Next
The Blast ecosystem, led by PACman and other projects like Juice Finance, sprang into action to retrieve the stolen funds. There were talks of rolling back the chain to before the hack, but this idea faced community pushback for being centralized.
Funds Returned
Surprisingly, the hacker returned the funds by handing over his wallet’s private keys. Speculations suggest that the hacker, living in Argentina, feared being doxxed by the Munchables team, leading to the return of the ETH.
Final Thoughts
The Munchables hack serves as a cautionary tale for investors to always do their research and exercise caution when investing in new projects. While this story had a somewhat happy ending with the funds returned, it highlights the risks involved in the crypto space.
As victims of the hack, we are eagerly awaiting the return of our ETH and hope for a smoother experience in the future. Stay safe and vigilant in your crypto investments.
