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Digital Assets

Digital Asset Security Under Scrutiny Following Multiple Incidents

Recent exploits across NFT platforms and blockchain bridges, alongside a major exchange loss, spark debate over industry safeguards and responsibility.

The Digital Assets Desk

Gokhshtein Media

September 25, 2026

3 min read

Digital Asset Security Under Scrutiny Following Multiple Incidents

Key Points

The digital asset space is grappling with a series of security vulnerabilities and financial setbacks, prompting discussions about platform integrity and accountability.
NFT marketplace Magic Eden is under suspicion for a security vulnerability after a white hat moved 3,832 NFTs from numerous wallets.
Adding to the industry's security concerns, announced that "KelpDAO sues LayerZero and its CEO over the $292 MILLION rsETH bridge exploit." KelpDAO alleges that undisclosed risks and a single-verifier setup allowed North Korea-linked hackers to drain 116,500 rsETH.

The digital asset space is grappling with a series of security vulnerabilities and financial setbacks, prompting discussions about platform integrity and accountability. Recent reports detail an NFT platform exploit, a significant bridge hack leading to a lawsuit, and a major exchange loss, highlighting ongoing challenges.

NFT marketplace Magic Eden is under suspicion for a security vulnerability after a white hat moved 3,832 NFTs from numerous wallets. reported that "Yuga Labs CEO Michael Figge said the issue was discovered hours earlier and that Yuga Labs VP of Blockchain Quit (0xQuit) is handling affected assets within the scope of the white-hat rescue." The report added that Quit confirmed the "NFTs are currently secured at an address beginning with 0x71cF and will be returned to their original owners once the risk is resolved," while Magic Eden has not yet disclosed the full scope or cause of the issue.

Adding to the industry's security concerns, announced that "KelpDAO sues LayerZero and its CEO over the $292 MILLION rsETH bridge exploit." KelpDAO alleges that undisclosed risks and a single-verifier setup allowed North Korea-linked hackers to drain 116,500 rsETH. The report states that "LayerZero CEO Pellegrino calls the claims 'meritless' and vows to fight them in Vancouver courts," while KelpDAO plans to migrate to a safer bridge to protect users.

Further compounding the narrative of financial integrity, reported that "Bitget suffers massive $351.6M loss." In response to broader industry concerns about user fund safety, Bitget CEO Gracy Chen addressed the issue of exchange practices. Chen stated, "After FTX, I Don’t Think Major Exchanges Would Comingle User Funds," emphasizing that "the collapse of FTX was a hard lesson for the entire industry." She affirmed that Bitget maintains a publicly verifiable protection fund of approximately $460 million, alongside over $1 billion in Bitget-owned assets, separate from customer funds, asserting that "user assets are backed 1:1 and can be checked through proof-of-reserves and Merkle Tree data."

The Digital Assets Desk

Gokhshtein Media

The Digital Assets Desk covers Bitcoin, crypto markets, tokens, exchanges, and the intersection of digital assets with macro policy and regulation. About this desk →

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