On 27 March, The Web3 Gaming company, Munchables encountered a huge crypto scam from a web developer or in simple language a hacker. Munchables witnessed the loss of around 17,400 Ethereum worth $62 Million fund through a breach in the Munchables lock contracts. The incident has sparked severe concerns among the users as the assets belong to the users. However, there was an unexpected incident where a hacker agreed to return all funds of munchables without any Ransom.
A Case of Crypto Scam
Following the breach, Munchables a Web3 Gaming app swiftly assured its community that their assets remained secure. Via an update communicated through the social media hub X, Munchables assured users of the implementation of lockdrops and the continued distribution of Blast-related rewards, instilling confidence in its user base.
Before the reassuring update, Munchables had promptly addressed the breach, informing users of measures taken to prevent any unauthorized transactions associated with the compromised assets.
Crypto expert Zachxbt and other analysts quickly identified the exploit, with one report hinting at the involvement of a potentially rogue developer, possibly affiliated with North Korea, gaining unauthorized access to the Munchables lock contract.
However, in a surprising turn of events, Munchables later revealed that the former developer responsible for the breach had provided the necessary private keys for the complete recovery of the lost funds. This disclosure paved the way for a full restitution of the pilfered assets, with Munchables expressing gratitude for the cooperation.
Remarkably, the former developer opted to return all funds without any ransom demands, a gesture that underscored the significance of ethical conduct within the crypto community. A user affiliated with Blast, sharing insights on social media, emphasized the importance for developer teams to fortify their security measures in light of this incident.
Moreover, the user revealed their involvement in assisting Munchables in the safe return of funds to affected users, highlighting a collaborative effort to mitigate the impact of the breach and reinforce trust within the Web3 gaming ecosystem.
