OpenSea scrutinize rumors of missing NFTs exploit

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The non-fungible token market was sent into a tizzy Saturday evening after NFTs on OpenSea were swiped by a hacker.OpenSea co-founder Devin Finzer reacted to the rumors of the NFT exploit and, as a result, attributed the incident to be one from a “phishing attack.” 

Key Takeaways

  • OpenSea initially planned to revise its smart contract, and the new upgraded contract was to ensure old, inactive listings on the marketplace will expire. 
  • Active OpenSea users on Twitter thought emails about a contract migration process were official OpenSea emails. 
  • Peckshield, a blockchain security audit company, reports that the rumored exploit was likely a phishing attack. 
  • The attacker’s address has since been slapped with a “phish/hack” warning badge as it contains about $1.7 million worth of ETH and tokens such as BAYC, 2 Cool Cats, one Azuki, and one Doodle. 

In his tweet, he incinerated that the firm was investigating the incident and said, according to his tweet, that the attack is not connected to the OpenSea website. He also highlighted the number of people that have since been affected to be 32 users who signed malicious payloads from a hacker. Most of these people have their NFT stolen as a result. Check the image below for reference. 

In several other tweets under the thread, he stated that the attack is not active anymore and no recent activity from the attacker account in 2 hours at the time of the tweet. He also advised users to double-check in their browser that they are on opensea.io. He also implored affected users to reach out to the firm @opensea_support

According to the email purported to be from OpenSea, the email deceived users into believing there is a smart contract migration but it was a phishing attack – a common tactic used by thieves to access users’ account through fictitious emails.