Arbitrum-based NFT marketplace Treasure was hit by a security breach that led to the loss of ‘Smol Brains’ prompting its developers to ask users to delist their items.
The platform’s co-creator, John Patten, assured the users that they will be compensated. He adds that he would avail his Smols to cover losses.
The amount lost has not been determined, but there is a hint from a blockchain address associated with the hack.
The account shows that about 17 Smol Brains, equivalent to 421,511.38 MAGIC, Treasure’s native token, or $1.4 million, were stolen.
Blockchain security company PeckShield alleges that over 100 NFTs from multiple collections have been stolen from the Treasure marketplace.
The announcement saw the price of the MAGIC tank to $2.6 from $3.8 before recovering to about $3.3.
Source: The Block