ZachXBT Strengthens Munchables Security as Custodian

In a strategic move to strengthen the security of digital assets, ZachXBT, a notable blockchain investigation expert, was recently appointed as one of the custodians of a multisig wallet that holds funds recovered from users of the GameFi Munchables protocol. This decision was announced on April 1st by the developers of Munchables, highlighting the importance of transparency and security in the world of cryptocurrencies.

Along with ZachXBT, the entities Manifold Trading, Selini Capital and the Munchables team itself make up the custodian board. This move aims to not only safeguard resources, but also restore the trust of the community affected by a security incident that led to the loss and subsequent recovery of approximately $63 million.

We’re on the final steps with the lockdrop refunds.

As part of our next phase, we have restructured the team completely.

We have brought in established and trusted entities to help upgrade the security of the project’s funds and smart contracts.

— Munchables (@_munchables_) April 1, 2024

Munchables, known for its non-fungible token (NFT) game, found itself in a challenging situation when an attack orchestrated by an internal developer, identified only as “Werewolves0493”, compromised private wallets on the Blast network, a secondary layer of the Ethereum. ZachXBT’s insightful analysis was crucial in unmasking the identity of the attacker, who, surprisingly, chose to return the funds without ransom demands.

Given this scenario, Munchables took the initiative to reinforce its security measures, integrating new signatories to the multisig wallet and planning a series of re-audits. This multi-faceted approach also involves Manifold Trading and Selini Capital in overseeing future developments and auditing contracts by Nethermind, an Ethereum infrastructure firm, thus ensuring a safer environment for its users.

The commitment from ZachXBT, now a temporary signatory, reiterates the ongoing effort to maintain high security standards, with him expressing support for the idea of ​​rotating custodians to protect funds.

In addition to asset recovery, Munchables aims for a vigorous relaunch, promising attractive rewards and financial support to players and contributors who have committed to securing the platform. The inclusion of NFT migration plans and the promise of new features signal a promising and secure future for gaming enthusiasts.

With a careful look to the future, Munchables and its community prepare for a new chapter, remaining vigilant against potential fraud and committed to providing a rewarding and safe gaming experience.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.