Munchables Strengthens Security with Multisig, Contract Audits, and Enhanced Hiring

Following a substantial theft and subsequent recovery of nearly $63 million from a rogue developer, the NFT game Munchables has implemented measures to enhance security. In collaboration with Manifold Trading, Selini Capital, and ZachXBT, Munchables has introduced multisig signers to ensure fund protection. Additionally, contracts will be re-audited and upgraded by developers from these firms, while Nethermind will conduct further audits.

Munchables Implements Comprehensive Security Measures to Prevent Future Unauthorized Fund Exfiltration

Following the recent incident involving the unauthorized transfer of approximately $63 million from the Ethereum-based nonfungible token (NFT) game Munchables, the platform has outlined a series of robust security measures to mitigate similar incidents in the future.

On March 26, Munchables was targeted by a cyberattack, resulting in the theft of over 17,400 Ether (ETH). The perpetrator was subsequently identified as an in-house developer who breached the platform's security protocols. The situation was resolved without incident after the developer returned the stolen funds.

In the wake of the event, Munchables has acknowledged the need to strengthen its security measures. The platform has announced several significant changes to enhance the protection of user funds and smart contracts, including:

1. Enhanced Multisig Signatory Framework:
   Munchables has introduced multiple new multisig signatories to ensure the secure return of users' funds. These signatories include investment firm Manifold Trading, market maker Selini Capital, and blockchain investigator ZachXBT. This multi-layered approach significantly reduces the risk of unauthorized fund transfers.
2. Contract Re-Audits and Upgrades:
   Manifold Trading and Selini Capital have been tasked with re-auditing and upgrading Munchables' smart contracts. This process will identify and rectify potential vulnerabilities, bolstering the platform's security posture.
3. Blockchain Infrastructure Audit:
   Ethereum infrastructure firm Nethermind will conduct a comprehensive audit of the refreshed smart contracts before Munchables' relaunch. This third-party audit will provide an independent assessment of the platform's security measures.
4. Enhanced Hiring Process:
   Munchables has implemented stricter hiring procedures for its development team. By thoroughly vetting potential employees, the platform aims to minimize the risk of internal breaches.
5. Higher Rewards for Returning Gamers:
   Upon relaunch, Munchables will offer higher rewards to returning gamers as a token of appreciation for their support during the transition.
6. Financial Support for Recovery Entities:
   The platform has pledged financial support to the individuals and organizations involved in the recovery process, acknowledging their invaluable contributions to securing users' assets.
7. Direct Refund Distribution:
   Munchables has cautioned users against interacting with external websites offering refunds. All refunds will be distributed directly to users' wallets to prevent phishing scams.

These comprehensive security measures underscore Munchables' commitment to the safety and integrity of its platform. By implementing these safeguards, the company aims to restore user confidence and prevent future unauthorized fund transfers, ensuring a secure and trustworthy gaming experience for all players.