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Post: Munchables Security Update: User Funds, Custodian Role, and Nethermind Audit

Munchables Security Update: User Funds, Custodian Role, and Nethermind Audit

Key Points:

  • User funds are secure, lockdrops will not be enforced, and rewards related to the blast incident will be distributed by Munchables developers.
  • ZachXBT has been added as the fourth custodian to a multi-sig wallet containing hacked user funds for GameFi protocol Munchables, alongside Manifold Trading, Selini Capital, and Munchables itself.
  • Nethermind will be brought on board to audit all updated contracts before Munchables resumes operations.
  • All users affected by the exploit will have their assets recovered and receive refunds directly to their wallets.

User Funds Security and Refunds:

The developers of Munchables have reassured users that their funds are secure, lockdrops will not be enforced, and rewards related to the blast incident will be distributed correctly. Refunds for all affected users will be returned directly to their wallets following the exploit.

ZachXBT as Custodian:

ZachXBT has joined as the fourth custodian for the multi-sig wallet holding hacked user funds, alongside other custodians like Manifold Trading and Selini Capital. His temporary signing role is crucial in ensuring the safe return of user funds, with a clear expectation of signers being rotated based on the development team’s decisions.

Nethermind Audit:

Munchables has planned to engage Nethermind to conduct an audit on all updated contracts before resuming operations. This move indicates the developers’ commitment to ensuring the security and integrity of their protocols moving forward.

Refunds and Asset Recovery:

All users affected by the exploit can expect to have their assets recovered safely, with refunds being directly returned to their wallets. This transparent process is designed to restore trust and confidence among the community following the security incident.

Hot Take:

The proactive approach taken by Munchables in securing user funds, involving reputable custodians like ZachXBT, and engaging in thorough contract audits demonstrates a commitment to transparency and security. Such measures are essential in safeguarding user assets and maintaining trust in decentralized protocols.

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