EarthMeta has transitioned its EMT token and NFT collections to Ethereum and restored several parts of its ecosystem after a security incident prompted the project to replace its original token.
The project said on Aug. 14 that its country, city, and land NFT collections had been migrated to new Ethereum contracts and transferred to users’ wallets. EarthMeta cautioned that some wallets may take additional time to display the assets while they index the new contracts.
The NFT migration follows the rollout of the new Ethereum-based EMT token. On Aug. 13, EarthMeta said XT had distributed the replacement tokens to eligible holders, with deposits, withdrawals, and trading scheduled to resume at 03:00 UTC on Aug. 14.
EarthMeta has also restored decentralized trading for EMT. The project announced on Aug. 11 that EMT/USDC, EMT/USDT, and EMT/ETH liquidity pools went live on Uniswap, while its CoinGecko listing was updated to reflect the Ethereum migration.
EarthMeta Replaced EMT Token Following Smart Contract Exploit
EarthMeta announced the migration on Aug. 3 after an attacker exploited a vulnerability in the EMT v1 smart contract and stole 41 million EMT tokens from two project-controlled wallets. The project said user wallets, NFTs, accounts, and platform infrastructure were not compromised.
According to EarthMeta, the attacker sold some of the stolen tokens for about 3,500 USDT before the project withdrew liquidity from the existing EMT pool and halted trading to prevent further sales.
EarthMeta subsequently announced plans to replace EMT v1 with a new token on Ethereum and migrate its wider ecosystem from Polygon. The project took a snapshot at Polygon block 91,386,400 on Aug. 3 to determine the balances eligible for migration.
