White hats rescue $500K in NFTs after Flooring exploit
Yuga Labs-affiliated builders rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections together with Bored Apes and CryptoPunks in danger.
Yuga Labs CEO Michael Figge stated Monday that the recovered NFTs at the moment are within the firm’s custody and will likely be returned as soon as an answer is finalized.
Yuga’s pseudonymous vice chairman of blockchain, 0xQuit, stated the restoration lined greater than $500,000 value of NFTs.
Supply: Michael Figge
Regardless of the $NFT market’s cooldown, some collections nonetheless retain excessive ground costs. CryptoPunks had a ground value of round 32.7 $ETH ($54,612), whereas Bored Ape Yacht Membership NFTs sat round 9.16 $ETH, in keeping with CoinGecko.
Flooring Protocol was already winding down
The incident affected a protocol that had already been winding down elements of its consumer-facing $NFT enterprise.
Ground Protocol stated in September 2025 that its Web3 shopper providers have been getting into sundown mode and suggested FPv2 token holders to redeem their NFTs and exit fractional positions earlier than Oct. 15, 2025.
Former CEO FreeLunchCapital stated the protocol confronted liquidity points and organizational modifications that left elements of the $NFT division unmanaged.
FreeLunchCapital stated they’d continued offering liquidity and saved a few of their very own $NFT belongings on the platform to assist customers exit positions, including that these belongings grew to become a main goal through the exploit.
FreeLunchCapital stated they’re in talks with the father or mother group behind the administration staff to regain management of the protocol.
$NFT market stays far under peak ranges
Regardless of falling sharply from its peak, the $NFT market nonetheless represents billions of {dollars} in worth. CoinGecko knowledge confirmed general $NFT market capitalization climbed to round $2 billion in late April and early Could earlier than falling again towards $1.4 billion by Monday.
90-day $NFT market capitalization chart. Supply: CoinGecko
$NFT Value Ground knowledge confirmed CryptoPunks and Bored Ape Yacht Membership remained the 2 largest $NFT collections by market capitalization.
CryptoPunks had a market capitalization of about 339,400 $ETH (about $560 million), whereas BAYC stood at round 90,590 $ETH ($150 million).
