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Munchables recovers hacked funds: ZachXBT joins custodians

TL;DR

  • Munchables recovered $63 million in hacked user funds with the help of blockchain expert ZachXBT.
  • Users will receive refunds directly to their wallets and can expect extra rewards for their support during the attack.
  • The platform plans to enhance security measures, including audits and NFT migration, before relaunching with new features.

The Munchables GameFi protocol creator teams formally confirmed through a statement that they have recovered the hacked balance of $63 million. The recovery following the hack 1 week ago, on the 26th of March, for which the hacker’s identity is covered by the alias Werewolves0943, is public knowledge now. The attack on Munchables, which operated in the Ethereum layer-2 protocol of Blast, compromised all its private wallets.

ZachXBT joins the custodial team

While underway, this recovery strategy sees the recruitment of Misha Panfilov, a renowned blockchain detective, as the additional member in a four-member multi-signature (multi-sig) wallet. By castle time, he is a complete unit with a perfect watch guard. Besides, I will have Manifold Trading, the company I founded, Selini Capital, and Munchables as the custodians.

The multi-sig operating system, assuming ZachXBT, although known for his blockchain security expertise, has taken a temporary position in the genesis phase unit of the operation. It is noteworthy here that he was an admirer of short involvement only because the transparency of the future rotations of signers is significant.

Refunds and compensation for users

In an effort to win the trust of its users, the Munchable team emphasizes that all the affected assets have been recovered and that the payouts will be issued straight to the owners’ wallets. This is in addition to the lauding of ‘massive multiples game rewards’ by developers as coins to be atonable for those depositors who have lost their assets to hackers.

Also, personnel having successful fights, both custodians and users, will be compensated with the money from the ETH pot and later MUNCH contributions. This symbolizes a gesture of solidarity that expresses the group effort in the restoration process and those that underlay the bravery in the teamwork of crisis.

Enhanced security measures and future plans

Following the Munchables breach, developers resolutely implemented preventive measures to protect the platform better. The team is proposing Nethermind, and if they audit the renewed contracts, only the protocol will be verified and relaunched. On the other hand, the methodology’s deliberateness will help make the martech platform work properly and be protected.

The comeback of Munchables is scheduled for the third quarter of 2022, and NFT migration and some extra settings are under consideration. Hence, the user experience is likely to be significantly improved. The elaboration regarding the future developments that will form a part of this project will be disclosed when the time is right, simultaneously showing the project’s support and pursuit of innovation and expansion.

The recovery of the user’s funds hacked moment signals great progress for Munchables and the community that came together. The appointment of a new Security Officer, ZachXBT, for the platform and certain security measures enhance the trustworthiness of Positive mobile wallet in the cyber world. With that being said, the attention will fall in place being focused on the quality of security, confidentiality, and innovation as the project is still developing, and that will be the sign showing the intention of Munchables to provide users with a high-quality gaming experience.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making investment decisions.

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Ibrahim Abdulaziz

A fervent advocate, Ibrahim shares his wealth of knowledge on crypto and blockchain technology in an engaging and informative style. He frequents places where influencers gather for his next scoop. His vision is that the decentralized nature, security features, and potential for financial inclusion will drive widespread massive crypto adoption.

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