Yuga Labs-affiliated developers rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections including Bored Apes and CryptoPunks at risk.

Yuga Labs CEO Michael Figge he said As of Monday, the recovered NFTs are currently in the company’s custody and will be returned once a resolution is finalized.

Yugi’s pseudonymous blockchain vice president, 0xQuit, he said the recovery included NFTs worth over $500,000.

Source: Michał Figa

Despite the cooling of the NFT market, some collections still maintain high reserve prices. According to CoinGecko, the floor price of CryptoPunks was around 32.7 ETH ($54,612), while the floor price of the Bored Ape Yacht Club NFT was around 9.16 ETH.

The floor protocol was already coming to an end

The incident impacted the protocol, which has already shut down some of its consumer-facing NFT business.

Floor protocol he said in September 2025 that Web3 consumer services are entering sunset mode and advised FPv2 token holders to redeem their NFTs and exit fractional positions before October 15, 2025.

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Former CEO of FreeLunchCapital he said the protocol faced liquidity issues and organizational changes that left parts of the NFT division unmanaged.

FreeLunchCapital said it continues to provide liquidity and has retained some of its own NFT assets on the platform to support users exit positions, adding that these assets became a primary target during the exploit.

FreeLunchCapital said it is in talks with the parent group behind the management team to regain control of the protocol.

The NFT market remains well below peak levels

Despite a piercing decline from its peak, the NFT market still represents billions of dollars in value. CoinGecko data showed that the overall NFT market capitalization rose to around $2 billion in slow April and early May before falling to $1.4 billion on Monday.

90-day NFT market cap chart. Source: CoinGecko

NFT Price Floor data showed CryptoPunks and Bored Ape Yacht Club remained the two largest NFT collections by market capitalization.

CryptoPunks’ market capitalization was approximately ETH 339,400 (approximately $560 million), while BAYC’s market cap was approximately ETH 90,590 ($150 million).

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