Ecological Project Hacked, $60 Million at Stake! Blast Faces Dilemma of “Power Delegation”: Roll Back Transactions or Let Hackers Run Free?

Ecological Project Hacked, $60 Million at Stake! Blast Faces Dilemma of "Power Delegation": Roll Back Transactions or Let Hackers Run Free?

Ecological Project Hacked, $60 Million at Stake! Blast Faces Dilemma of "Power Delegation": Roll Back Transactions or Let Hackers Run Free?

Contents
Toggle
Munchables Hacked for $60 Million
Blast Team Faces a Decision
Munchables, a Web3 gaming platform based on the Ethereum layer 2 network Blast, was hacked yesterday. Munchables discovered the platform was compromised at 5:37 PM local time. Blockchain detective ZachXBT quickly identified the attacker’s address, revealing that it contained approximately 17,411 ETH, worth around $62.5 million. This attack is one of the largest losses to date in 2024.
According to the latest investigation results, the attack is suspected to have been carried out by a North Korean hacker who disguised themselves as a developer and infiltrated the team. After gaining the team’s trust, they launched the attack. However, the community has also questioned why the team did not convert the contract to multi-signature and instead delegated core permissions to a developer known only through the internet.

In a statement, Munchables wrote:
It is worth noting that the Blast team controls the cross-chain bridge of the Blast <> mainnet. Therefore, the Blast team can actually choose to upgrade the cross-chain bridge contract to prevent the hacker from transferring the stolen ETH and roll back transactions to save user losses. The community is currently discussing this issue, with some people believing that the team should not intervene as it would undermine the spirit of decentralization.
However, Eric Wall, the founder of Taproot Wizards, criticized in a post on X, “Stop pretending that Blast is decentralized. It is honest to acknowledge that this system is 100% centralized.” Eric Wall also urged the team not to provide an additional $60 million to fund North Korea’s missile program in order to maintain the “spirit of ‘lying'”.