Key Takeaways
- Yuga Labs rescued 29 Bored Apes and 2 CryptoPunks worth $570,000 from a Floor Protocol exploit.
- The exploit allowed attackers to generate infinite μTokens to drain NFT pools.
- A secondary vulnerability was discovered, prompting preemptive action to move exposed assets.
- Rescued NFTs are in Yuga Labs’ custody while a return solution is developed.
What Happened
On June 8, 2026, Yuga Labs executed a whitehat operation to secure approximately $570,000 worth of NFTs from an exploit targeting the now-defunct Floor Protocol. The team rescued 29 Bored Apes and 2 CryptoPunks after discovering that a morning exploit could be extended to higher-value pools. Yuga Labs VP of Blockchain 0xQuit explained that the team found a second exploitable path and moved quickly to remove exposed NFTs before malicious actors could act. The assets are currently held in custody.
The Numbers
The rescue involved 29 Bored Ape Yacht Club NFTs and 2 CryptoPunks, with a combined value of around $570,000. Floor Protocol, which allowed NFTs to be pooled for liquidity, was exploited via a bug that let attackers convert a small amount of wETH into a near-infinite balance of μTokens, enabling pool drainage. The incident occurred amid a broader NFT market cooldown, with Ethereum NFT daily sales volumes peaking at $32.3 million in 2026—down from over $100 million in early 2022.
Why It Happened
The exploit stemmed from a vulnerability in Floor Protocol’s token conversion mechanics. Attackers could manipulate the system to mint excessive μTokens from minimal wETH, giving them the ability to drain NFT pools. Yuga Labs identified that the same vulnerability applied to pools with low liquidity, threatening high-value collections. Preemptive action was necessary to prevent a potential sell-off and further market destabilization.
What to Watch Next
- Yuga Labs’ plan for returning the NFTs to owners, likely through a coordinated process with Floor developers.
- Potential security reviews of other NFT liquidity protocols for similar vulnerabilities.
- Any market reaction if a large number of rescued assets are eventually sold.
This article is for informational purposes only and does not constitute financial advice.
