Yuga Labs-affiliated builders rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections together with Bored Apes and CryptoPunks in danger.
Yuga Labs CEO Michael Figge mentioned Monday that the recovered NFTs at the moment are within the firm’s custody and shall be returned as soon as an answer is finalized.
Yuga’s pseudonymous vice chairman of blockchain, 0xQuit, mentioned the restoration coated greater than $500,000 value of NFTs.
Supply: Michael Figge
Regardless of the NFT market’s cooldown, some collections nonetheless retain excessive flooring costs. CryptoPunks had a flooring value of round 32.7 ETH ($54,612), whereas Bored Ape Yacht Membership NFTs sat round 9.16 ETH, in response to CoinGecko.
Flooring Protocol was already winding down
The incident affected a protocol that had already been winding down elements of its consumer-facing NFT enterprise.
Ground Protocol mentioned in September 2025 that its Web3 shopper companies had been coming into sundown mode and suggested FPv2 token holders to redeem their NFTs and exit fractional positions earlier than Oct. 15, 2025.
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Former CEO FreeLunchCapital mentioned the protocol confronted liquidity points and organizational modifications that left elements of the NFT division unmanaged.
FreeLunchCapital mentioned that they had continued offering liquidity and stored a few of their very own NFT belongings on the platform to assist customers exit positions, including that these belongings turned a major goal in the course of the exploit.
FreeLunchCapital mentioned they’re in talks with the guardian group behind the administration staff to regain management of the protocol.
NFT market stays far beneath peak ranges
Regardless of falling sharply from its peak, the NFT market nonetheless represents billions of {dollars} in worth. CoinGecko information confirmed general NFT market capitalization climbed to round $2 billion in late April and early Might earlier than falling again towards $1.4 billion by Monday.
90-day NFT market capitalization chart. Supply: CoinGecko
NFT Worth Ground information confirmed CryptoPunks and Bored Ape Yacht Membership remained the 2 largest NFT collections by market capitalization.
CryptoPunks had a market capitalization of about 339,400 ETH (about $560 million), whereas BAYC stood at round 90,590 ETH ($150 million).
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