OpenSea introduces new stolen item policy to combat NFT theft
A Twitter user claimed that they purchased a stolen NFT and OpenSea support advised them to sell it on another marketplace. As asset theft remains one of the biggest headaches in the nonfungible token (NFT) space, NFT marketplace OpenSea is making an effort to tailor its policy to incorporate additional measures against stolen items. In an announcement, the firm highlighted that its policies were made considering United States laws, where knowingly allowing the sale of stolen items is prohibited. However, the marketplace admitted that in some cases, buyers who unknowingly bought stolen....
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Popular non-fungible token (NFT) marketplace OpenSea announced changes to its crime reporting policy. Via their Twitter account, the team behind the platform addressed the issues with their old stolen items policy and why it was “damaging” users’ trust in the marketplace. Related Reading: “Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them? […]
Rarible temporarily cancelled all OpenSea orders while it implemented a tool to help protect users against mistakenly selling their NFTs. NFT marketplace Rarible temporarily cancelled orders from OpenSea and sent a series of tweets today outlining how it plans to help combat what it called “risky sale orders” on OpenSea with a new order management tool.The tool is designed to help users differentiate between their active and inactive orders to help prevent their NFTs from being mistakenly sold even if they cancel an OpenSea order by transferring the asset to another wallet.Part of....
In the last 30 days, over 53% of NFT investors made losses on sale trades. Despite the cold market sentiment, the number of investors that hold their NFT investments continues to rise. The market performance of blue chip nonfungible tokens (NFTs), often considered a good long-term investment, revisited its all-time low range for the second time since June 2022 — falling down below 10,000 Ether (ETH) in the blue-chip index maintained by NFTGo.Blue chip NFTs marked their best performance not too long ago, on April 29, amounting to nearly 14,900 ETH. However, June 13 was the worst performing....
Art gallery owner Todd Kramer had his valuable NFT collection stolen from his hot wallet yesterday, so OpenSea froze the stolen assets worth about $2.2 million. NFT marketplace OpenSea has frozen 16 Bored Ape and Mutant Ape nonfungible tokens (NFT) after they were reportedly stolen yesterday from a New York art gallery operator.In total, one Clonex, seven Mutant Ape Yacht Club, and eight Bored Ape Yacht Club NFTs currently valued at about 615 ETH ($2.28 million) were stolen and are now not able to be traded on OpenSea.The toddkramer.eth account, which links to the Ross+Kramer Art Gallery....
Opensea co-founder and CEO, Devin Finzer, has denied rumors that the non-fungible token (NFT) marketplace’s codebase was breached and that attackers had stolen $200 million. According to Finzer, an investigation had shown that the attacker had $1.7 million worth of ethereum in his wallet by leveraging a phishing scheme.
Attacker Reportedly Returns Some Stolen NFTs
Devin Finzer, the co-founder and CEO of Opensea has denied reports that the NFT marketplace has been breached. Instead, Finzer has characterized the alleged hacking incident as a “phishing....