20 hours ago
Yuga Labs-affiliated developers rescued 68 non-fungible tokens from Flooring Protocol aft an exploit enactment NFTs from collections including Bored Apes and CryptoPunks astatine risk.
Yuga Labs CEO Michael Figge said Monday that the recovered NFTs are present successful the company's custody and volition beryllium returned erstwhile a solution is finalized.
Yuga’s pseudonymous vice president of blockchain, 0xQuit, said the betterment covered much than $500,000 worthy of NFTs.
Source: Michael Figge
Despite the NFT market’s cooldown, immoderate collections inactive clasp precocious level prices. CryptoPunks had a level terms of astir 32.7 ETH ($54,612), portion Bored Ape Yacht Club NFTs sat astir 9.16 ETH, according to CoinGecko.
Flooring Protocol was already winding down
The incidental affected a protocol that had already been winding down parts of its consumer-facing NFT business.
Floor Protocol said successful September 2025 that its Web3 user services were entering sunset mode and advised FPv2 token holders to redeem their NFTs and exit fractional positions earlier Oct. 15, 2025.
Related: OpenSea postpones SEA token launch, citing ‘challenging’ conditions
Former CEO FreeLunchCapital said the protocol faced liquidity issues and organizational changes that near parts of the NFT part unmanaged.
FreeLunchCapital said they had continued providing liquidity and kept immoderate of their ain NFT assets connected the level to assistance users exit positions, adding that those assets became a superior people during the exploit.
FreeLunchCapital said they are successful talks with the genitor radical down the absorption squad to regain power of the protocol.
NFT marketplace remains acold beneath highest levels
Despite falling sharply from its peak, the NFT marketplace inactive represents billions of dollars successful value. CoinGecko information showed wide NFT marketplace capitalization climbed to astir $2 cardinal successful precocious April and aboriginal May earlier falling backmost toward $1.4 cardinal by Monday.
90-day NFT marketplace capitalization chart. Source: CoinGecko
NFT Price Floor information showed CryptoPunks and Bored Ape Yacht Club remained the 2 largest NFT collections by marketplace capitalization.
CryptoPunks had a marketplace capitalization of astir 339,400 ETH (about $560 million), portion BAYC stood astatine astir 90,590 ETH ($150 million).
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