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 said Monday that the recovered NFTs are actually within the firm’s custody and will likely be returned as soon as an answer is finalized.
Yuga’s pseudonymous vice chairman of blockchain, 0xQuit, said the restoration lined greater than $500,000 price of NFTs.
Supply: Michael Figge
Regardless of the NFT market’s cooldown, some collections nonetheless retain excessive ground costs. CryptoPunks had a ground worth of round 32.7 ETH ($54,612), whereas Bored Ape Yacht Membership NFTs sat round 9.16 ETH, in line with CoinGecko.
Flooring Protocol was already winding down
The incident affected a protocol that had already been winding down components of its consumer-facing NFT enterprise.
Ground Protocol said in September 2025 that its Web3 client providers have 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 said the protocol confronted liquidity points and organizational modifications that left components of the NFT division unmanaged.
FreeLunchCapital mentioned that they had continued offering liquidity and stored a few of their very own NFT property on the platform to assist customers exit positions, including that these property turned a major goal throughout the exploit.
FreeLunchCapital mentioned they’re in talks with the mother or father group behind the administration staff to regain management of the protocol.
NFT market stays far under 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 Could earlier than falling again towards $1.4 billion by Monday.
90-day NFT market capitalization chart. Supply: CoinGecko
NFT Value 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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