THE BOOGEYMAN IS DEAD, BUT THE NIGHTMARE LIVES ON: Blur Announces That Its Shutting down As 0xQuit Warns NFT Collectors To Revoke Old Approvals!

Spooky season just got a little less scary for NFT collectors after one of the space's biggest boogeymen announced that it was closing up shop. But while some are celebrating, a new fear is rising, and it's scarier than any ghost!

On Monday, Blur, the self proclaimed NFT marketplace for pro traders backed by venture capital firm Paradigm, announced that it would be shutting down its frontend and lending activity next month.

 “The https://blur.io frontend will be deprecated on November 12, 2026,” the dApp tweeted. “This deprecation only applies to the frontend. The Blur marketplace protocol will remain operational on-chain, and $BLUR will continue to control its fee switch. Blend will stop matching new loans on November 12, 2026. Borrowers have until then to repay their loans or allow them to default. After this date, we will provide a frontend tool to help users withdraw their assets from Blend.”

 

 

As the Gazette previously reported, Blur launched on October 19, 2022, by Pacman, promising professional traders more tools than ever. However, the platform’s biggest draw was allowing users to trade NFTs without enforcing creator royalties.

Over the next two years, "Blur farming," a points based incentive system that rewarded users for trading NFTs, would haunt the space as traders bought and sold NFTs all the time.

 

For many, Blur became something of a grim reaper to NFTs, transforming the NFT space into nothing more than "memecoins with pictures."

 

But while many are grave dancing on Blur following Monday's announcement, Yuga Labs' Vice President of Blockchain, 0xQuit, is warning his fellow NFT collectors that the platform could still pose a risk to their wallets from beyond the crypt.

Because onchain some evils never truly die.

 

“Last month, the contracts powering Magic Eden were exploited to the tune of millions of dollars,” he wrote. “I was lucky enough to be in a position to rescue a good portion of that, but it highlighted the danger of leaving approvals open as adversaries get access to better and better tools for finding holes in contract logic. Today, Blur announced that they will be deprecating their frontend. I've investigated Blur and found no exploits within the current contracts. However, the Blur contracts are upgradable, meaning that they could turn malicious at any time. They currently have eight figures worth of NFTs approved to them. The safety of those NFTs effectively hinges on the opssec of the Blur team, which appears to be disbanding at this time. If you have open approvals to Blur, I recommend you remove them immediately.”

 

For more information on revoking old contracts or to make sure your wallet is completely free of apprvoals, visit Revoke. Cash here: https://revoke.cash

 

The Gazette will continue to follow Blur's frontend shutdown, the community's reaction, and any additional security warnings as the November 12 deadline approaches. Stay tuned for updates!