Yuga Labs CEO Michael Figge announced on X on June 8 that his team completed a white-hat action to address a vulnerability found in Flooring Protocol. The related assets have been securely held in custody by Yuga Labs. Figge said that Yuga Labs will work with the protocol developers to return the assets after the solution is confirmed.
NFT list rescued by the white-hat action
Assets that Yuga Labs rescued and securely held in custody in this white-hat action:
Bored Ape Yacht Club (BAYC): 29 units
Mutant Ape Yacht Club (MAYC): 4 units
BAKC: 1 unit
CryptoPunks: 2 units
Azuki: 1 unit
Elementals: 2 units
Captains: 26 units
Moonbird: 1 unit
Doodles: 2 units
NFT market update: ETH down 28%, blue-chip floor prices under pressure
CoinGecko data shows that Ethereum has fallen by about 28% over the past 30 days, and is currently trading at around $1,640. As of the time of reporting, the floor prices of major blue-chip NFTs are: CryptoPunks floor price is 32.5 ETH (about $53,254), with a 30-day USD decline of 29%; BAYC floor price is 9.05 ETH (about $14,828), with a 30-day USD decline of 39%; Pudgy Penguins floor price is 4.48 ETH (about $7,335), with a 30-day USD decline of 42%.
The total NFT market value is between $1.4 billion and $2.4 billion (data varies across different statistical institutions), and CryptoPunks accounts for 27% of the total valuation. NFT data platform NFT Price Floor announced that it will shut down on June 30, 2026, due to insufficient funds.
FAQ
How exactly was Yuga Labs’ white-hat action carried out?
According to Figge’s announcement on X, coffeedev found that the vulnerability in Flooring Protocol posed greater risks to series such as BAYC and CryptoPunks. Figge then instructed the GrailsOTC trading desk to front funds and NFTs, which were recovered by 0xQuit (blockchain vice president), and transferred them to Yuga Labs for secure custody.
How will the recovered assets from Flooring Protocol be returned?
Figge said that Yuga Labs will work with the protocol developers to determine a solution and then return the assets; he explained that the solution may include contract restart and token protection within the protocol, but the specific timeline and method have not been announced.
Why did NFT Price Floor announce it would shut down?
NFT Price Floor announced on June 6, 2026 that it will shut down on June 30 due to insufficient funds. The platform was founded by a five-person team in 2021, has received no venture capital and has not issued any tokens, and tracks more than 1,799 NFT collection series.
