Yuga Labs, the company behind Bored Ape Yacht Club, conducted a whitehat hacking operation on Sunday to rescue approximately $570,000 worth of NFTs from an exploit targeting the defunct NFT liquidity project Floor Protocol. The exploit initially allowed attackers to drain NFTs by manipulating wrapped Ethereum (wETH) into a nearly infinite μToken balance. Yuga Labs discovered a related exploit path that put additional high-value NFTs at risk, including 29 Bored Apes and two CryptoPunks. The team removed these assets from vulnerable pools before malicious actors could exploit them. Yuga Labs now holds custody of the rescued NFTs and is working with Floor Protocol developers to return them to their rightful owners. The NFT market has cooled significantly since early 2022, but top collections like Bored Apes (floor price ~$15,000) and CryptoPunks (~$55,000) still hold substantial value. Yuga Labs CEO Michael Figge noted that the operation saved dozens of assets and prevented further compromise of Floor Protocol tokens.

Key facts

• Yuga Labs rescued 29 Bored Apes and 2 CryptoPunks worth ~$570,000.
• The exploit targeted Floor Protocol, a defunct NFT liquidity platform.
• Whitehat operation removed exposed NFTs before malicious actors could steal them.
• Yuga Labs holds custody and works with developers to return NFTs to owners.
• NFT market has cooled but top NFTs still trade for tens of thousands of dollars.

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