Developers affiliated with Yuga Labs have rescued 68 non-fungible tokens from the Flooring Protocol after an exploit compromised NFTs from collections including Bored Apes and CryptoPunks.
Yuga Labs CEO Michael Figge said Monday that the recovered NFTs are now in the company’s custody and will be returned once a resolution is completed.
Yuga’s pseudonymous vice president of blockchain, 0xQuit, said the recovery included more than $500,000 worth of NFTs.
Source: Michael Figge
Despite the $NFT Now that the market has cooled down, some collections still charge high rock bottom prices. CryptoPunks had a price floor of around 32.7 $ETH ($54,612), while the Bored Ape Yacht Club NFTs were around 9.16 $ETHaccording to CoinGecko.
The Flooring Protocol had already expired
The incident affected a protocol that had already abolished parts of the consumer-oriented approach $NFT company.
Floor Protocol said in September 2025 that its Web3 consumer services were going into sunset mode and advised FPv2 token holders to redeem their NFTs and exit fractional positions by October 15, 2025.
Former CEO FreeLunchCapital said the protocol suffered from liquidity problems and organizational changes that left parts of the economy $NFT division unmanaged.
FreeLunchCapital said they continued to provide liquidity and had retained some of their own liquidity $NFT assets on the platform to help users exit positions, adding that these assets became a primary target during the exploit.
FreeLunchCapital said they are in discussions with the parent group behind the management team to regain control of the protocol.
$NFT market remains well below peak levels
Despite a sharp decline from its peak, the $NFT market still represents billions of dollars in value. The CoinGecko data showed overall $NFT The market cap rose to about $2 billion in late April and early May before falling back to $1.4 billion on Monday.
90 days $NFT market capitalization chart. Source: CoinGecko
$NFT Price floor data showed that CryptoPunks and Bored Ape Yacht Club remained the two largest $NFT collections based on market capitalization.
CryptoPunks had a market cap of approximately 339,400 $ETH (about $560 million), while BAYC stood at about 90,590 $ETH ($150 million).