OpenSea announces new security features to protect users from NFT scams

OpenSea announces new security features to protect users from NFT scams

The new feature will automatically hide suspicious NFT transfers from view on their marketplace. One of the most popular crypto startups, OpenSea, has recently come under fire for stolen and plagiarized nonfungible tokens (NFTs).In light of the growing number of NFT scams, OpenSea has announced the launch of a new feature that will automatically hide suspicious NFT transfers from view on their marketplace. This will help to protect users from being scammed and ensure that only legitimate transactions are visible.According to a blog post on June 13, the new feature will automatically....


Related News

OpenSea Mails Customers, Warns Of Possible Phishing Emails Due To Data Leak

OpenSea, a leading NFT marketplace, has advised its users to exercise caution and avoid falling for phishing scams. The head of security said that an employee of a third-party vendor abused their access to customers’ data of OpenSea. OpenSea Customers’ Emails Leaked After discovering that email addresses had been shared with a third party, employees […]

OpenSea’s Discord Server Compromised, Phishing Links Posted

The leading NFT marketplace, OpenSea, saw its Discord server hacked to conduct scams. The incident was highlighted by numerous users’ tweets and blockchain security firm, PeckShield. As a result, OpenSea confirmed the action taken against the issue.  OpenSea Tweeted regarding the incident: We are currently investigating a potential vulnerability in our Discord, please do not […]

OpenSea disables features temporarily as contract migration completes

Bids and purchases are made unavailable to ensure that listings are protected until the migration completes. The week-long period that OpenSea gave users to migrate their nonfungible token (NFT) listings ends today. Following the deadline, the platform announced that some features on the site may not be available temporarily due to the migration.On Feb. 19, OpenSea pushed a new smart contract and urged users to start the migration of their NFT listings from the old contract to the new one. The NFT marketplace mentions that the upgrade brings new features such as bulk listings and more....

Here’s how OpenSea NFT hacks hurt owners, buyers and even entire collections

Anyone can become the victim of a malicious NFT hack, so what more could OpenSea do to protect its users? The nonfungible token (NFT) market has been booming since the summer of 2021 and as NFT prices skyrocketed, so too did the number of hacks targeting NFTs. The most recent high-profile hack siphoned approximately 600 Ether (ETH) worth of NFTs from Arthur0x, the founder of DeFiance Capital, which were then sold on OpenSea.A 2022 Crypto Crime Report published by Chainalysis highlighted that the value sent to NFT marketplaces by illicit addresses jumped significantly in 2021, topping out....

The Cost of Scams For NFT Marketplaces and Users

The NFT marketplace is flourishing and gaining consumer interest by the day. At the same time, this development also exposes users to new scams, counterfeits, and money laundering schemes. According to a PrivacyHQ survey, half of NFT owners have lost digital assets at least once. Earlier this year, OpenSea, the largest public NFT marketplace, reported […]