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Users Received Stolen ‘Smol Brains’ NFTs Hours After Treasure Exploit

Developers verified in a message that hackers have begun returning stolen “Smol Brains” and other non-fungible tokens (NFTs) hours after attacking popular Arbitrum-based marketplace Treasure on Thursday morning.

In a statement on the Treasures Discord channel, devs claimed, “We believe we have found and remedied the root of the issue.” “This was a simple bug resulting from a previous fix that should have been caught sooner.”

Users who do not receive the NFTs will be compensated via a remuneration plan that will be voted on and approved by community members who participate in the marketplace’s long-term growth.

“Once we have the full list of remaining impacted parties who did not receive back”
” their stolen NFTs, we will propose a number of remediation options to ensure users are made whole.”
“These options will be tabled with the community and voted on by the DAO,”
So, the note read.

Treasure is the largest NFT ecosystem based on Arbitrum, a layer 2 protocol that runs on top of the Ethereum blockchain. In its own metaverse, each project listed on the Treasure marketplace uses the native MAGIC token.
Users can participate in future decisions and help to shape the marketplace’s growth with MAGIC. The immersive digital world created by combining virtual reality and augmented reality is referred to as the metaverse.

Hackers were able to exploit a flaw in the protocol in the early Asian hours of Thursday, allowing them to mint NFTs for free. At the time, Treasure requested that users remove their NFTs from the marketplace. NFTs are digital or physical assets that are represented on the blockchain.

Several “Smol Brains” and “Legions” were stolen in the attack, according to blockchain addresses discovered by sleuths. The Smol Brains NFTs are one of Treasure’s most popular, with some estimating that the stolen collection alone was worth over $1.4 million at the time of the raid.

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