TL;DR
A smart contract vulnerability in Flooring Protocol was exploited to drain an NFT liquidity pool using near-infinite fpTokens minted with minimal WETH.
Yuga Labs executed a white hat operation via GrailsOTC, successfully recovering 68 NFTs including 29 BAYC and 2 CryptoPunks worth over $500,000.
Recovered NFTs are held by Yuga Labs pending a protocol patch, while some assets remain with the attacker and total damages are still being calculated.
Flooring Protocol Smart Contract Exploit Drains NFT Liquidity Pool
A critical vulnerability in Flooring Protocol’s smart contract was exploited by an attacker who minted near-infinite fpTokens using only a small amount of WETH, allowing them to withdraw NFTs directly from the liquidity pool.
Yuga Labs White Hat Operation Recovers BAYC and Other NFTs
Upon identifying the threat, Yuga Labs launched a white hat rescue mission via GrailsOTC, acting faster than the hacker to recover assets before further damage could be done — a rare and notable intervention by an NFT project in a third-party protocol exploit.
68 NFTs Rescued Worth Over $500,000
The recovered assets include 29 BAYC, 2 CryptoPunks, 26 Captainz, and other NFTs — totaling 68 pieces valued at approximately $500,000+ at the time of recovery. The NFTs are currently held by Yuga Labs and will be returned to their original owners once the protocol is patched.
Some NFTs Still in Attacker’s Possession
Not all assets were recovered. A portion of the stolen NFTs remain with the attacker, and the full scope of damages has not yet been determined. The total loss is still being assessed.
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