ZachXBT is on board as a mentor to help fund the $63M Munchables exploit.
Renowned blockchain sleuth ZachXBT is on board as one of four guardians of GameFi protocol Munchables, a multi-sig wallet containing hacked user funds.
“ZachXBT joins multisig as the fourth signatory at this stage, completing the safe return of user funds,” Munchables developers wrote in an April 1 announcement. Other backers are Manifold Trading, Cellini Capital and Munchables itself. “We engage Nethermind to audit all of our renewed contracts before going live,” Munchables staff wrote in a statement. All users' assets are returned, and refunds go directly back to their wallets upon redemption.
“Making sure I can join Multisig as a signatory for the first time,” ZachxBT said in response to the nomination, “I didn't want to be in Multisig long-term. I expect any signers to be announced.” in the group”
To further compensate, developers also teased “huge multipliers on game rewards” to return depositors. In addition, the platform “will be re-released with NFT migration plans and additional features that will be revealed soon.” Meanwhile, guardians and users who helped thwart the attack will receive “ETH and future MUNCH donations” for their help in asset recovery. Munchables developers quote the ancient Chinese philosopher Confucius:
“We have two lives to touch, and the second begins when we realize that we only have one.”
On March 26, Munchables, built on top of the Ethereum Layer-2 network explosion, was hacked for $63 million, hiring a North Korean developer with the alias “Werewolves0943” who later hacked the game's private wallets.
In a post-mortem analysis, ZachXBT said the exploit was impersonating four different developers working for the Munchables team. After discovery, a malicious Munchables developer shared private keys with access to users' funds with no strings attached.
Related: A Beginner's Guide to the GameFi Ecosystem
