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Later that month, OpenSea reimbursed users about $1.8 million after a user interface bug allowed users to buy more than $1 million worth of NFTs at a discount. [16] [17] On January 27, 2022, OpenSea announced it would limit how many NFTs a user could create using the free minting tool. [18] The following day, OpenSea reversed the decision. [19]
During the height of the breakout success of CryptoKitties and the emergence of ERC-721 tokens in 2017, an NFT marketplace called OpenSea emerged to capitalize off of the new non-fungible token standard. [47] It positioned itself early in the NFT market landscape and grew to a $1.4 billion market cap in 2021 during the then-ongoing NFT boom. [48]
On February 20, The Verge reported that hundreds of NFTs were stolen from OpenSea users, causing a panic among the site's community of users. [3] The estimated value of the stolen tokens was more than $1.7 million. [3] According to OpenSea, only 17 users actually lost tokens, while 15 others interacted with the attacker but did not lose tokens. [3]
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OpenSea, one of the leading NFT marketplaces, has suffered a so-called exploit -- the described exploit enabling users to purchase NFTs from users at well below market value. NFTs with a market ...
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OpenSea suffered a phishing attack on Saturday that saw hackers steal at least $1.7 million worth of NFTs, the marketplace's CEO has confirmed.