White hats rescue $500K in NFTs after Flooring exploit

Written by Ezra Reguerrastaff writerReviewed by Bryan O'Sheastaff editorWritten by Ezra Reguerrastaff writerReviewed by Bryan O'Sheastaff editorWhite hats rescue $500K in NFTs after Flooring exploitLatest NewsPublishedJun 8, 2026CoinGecko and NFT Price Floor data show NFT market cap has cooled since April, while CryptoPunks and BAYC remain top collections by value.Yuga Labs-affiliated developers rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections including Bored Apes and CryptoPunks at risk.Yuga Labs CEO Michael Figge said Monday that the recovered NFTs are now in the company's custody and will be returned once a solution is finalized. Yuga’s pseudonymous vice president of blockchain, 0xQuit, said the recovery covered more than $500,000 worth of NFTs.Source: Michael FiggeDespite the NFT market’s cooldown, some collections still retain high floor prices. CryptoPunks had a floor price of around 32.7 ETH ($54,612), while Bored Ape Yacht Club NFTs sat around 9.16 ETH, according to CoinGecko.Flooring Protocol was already winding downThe incident affected a protocol that had already been winding down parts of its consumer-facing NFT business.Floor Protocol said in September 2025 that its Web3 consumer services were entering sunset mode and advised FPv2 token holders to redeem their NFTs and exit fractional positions before Oct. 15, 2025.Related: OpenSea postpones SEA token launch, citing ‘challenging’ conditionsFormer CEO FreeLunchCapital said the protocol faced liquidity issues and organizational changes that left parts of the NFT division unmanaged. FreeLunchCapital said they had continued providing liquidity and kept some of their own NFT assets on the platform to help users exit positions, adding that those assets became a primary target during the exploit.FreeLunchCapital said they are in talks with the parent group behind the management team to regain control of the protocol.NFT market remains far below peak levelsDesp…

White hats rescue $500K in NFTs after Flooring exploit

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