White hats rescue $500K in NFTs after Flooring exploit

CoinGecko and NFT Price Floor data show NFT market cap has cooled since April, while CryptoPunks and BAYC remain top collections by value.

Yuga Labs-affiliated developers rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections including Bored Apes and CryptoPunks at risk.

Yuga Labs CEO Michael Figge said Monday that the recovered NFTs are now in the company's custody and will be returned once a solution is finalized.

Yuga’s pseudonymous vice president of blockchain, 0xQuit, said the recovery covered more than $500,000 worth of NFTs.

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