BasePaintBasePaint holder loses 600 NFTs to unrevoked Magic Eden approvals
A BasePaint community member reported waking up to find all 600 of their BasePaint NFTs gone and urged holders to revoke all legacy Magic Eden contract approvals via revoke.cash. BasePaint amplified the warning to its community.
The loss stems from Magic Eden's old Payment Processor approvals on Base and other EVM chains. Magic Eden stopped using the Limit Break-built system in October 2024 but those on-chain approvals stayed active, letting attackers move NFTs and drain approved tokens — a flaw that has now taken at least $2.8M in assets and prompted white hats to rescue over 23,000 NFTs worth more than $5.7M.
- Holders who listed or traded on Magic Eden's EVM marketplace in 2024 should revoke Payment Processor approvals, including token approvals like WETH.
- Revoking protects what remains in wallets but does not recover assets already taken.
BasePaint
BasePaint offers artists a unique digital canvas experience, merging real-time collaboration with the potential for tangible rewards. Dive into a vibrant space where every pixel counts, and the canvases come alive with collective creativity.
- Brush NFTs: Begin by minting your distinct brush, making each stroke a testament to your artistic flair.
- Canvas Timeframes: Each canvas has its moment. After its time ends, it locks, setting the stage for the minting process.
- Shared Rewards: When canvases are minted, all contributing artists reap rewards. The more participants in the minting, the bigger the shared bounty.
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