- Hackers can complete OpenSea sales by matching advanced Seaport protocol orders.
- The sixth largest BAYC holder reported that twice a week, someone used Match Advanced Order to sell him stolen products.
- Users are dissatisfied with the NFT market place on the OpenSea censorship features.
A recent tweet by CryptoNewsLand claims that hackers have the ability to complete a sale by matching advanced orders placed using the OpenSea Seaport protocol.
Reports indicate that the Match Advanced Orders function of the OpenSea Seaport protocol makes it possible for hackers to complete the sale of Non-Fungible Token (NFTs) despite the fact that the OpenSea mark has forbidden such transactions. However, in order for this to be successful, there must first be a buyer. This violates OpenSea’s security policy in multiple ways (blocking cannot be sold).
Franklin, the sixth-largest stakeholder in BAYC, stated that someone had attempted to sell him stolen products twice in the past week through the “Match Advanced Order” service. These products were found as part of a suspicious activity evaluation (the yellow mark is a warning of stealing BAYC NFT).
As a direct result of this occurrence, the vast majority of users are becoming dissatisfied with the NFT market place for the OpenSea censorship features. This is due to the fact that stolen NFT commodities can be traded on the platform’s marketplace.
In the month of November, OpenSea launched two features in order to protect it users from scams and also to prevent NFT from being stolen within the platform. Another feature that was introduced is a new anti-theft feature that proactively scans URLs to prevent malicious links from appearing on counterfeit listings. The other feature was the introduction of a new detection feature that automatically detects and flags potentially stolen NFTs.
Previously, OpenSea made a public statement in which it indicated it is collaborating with other companies in the NFT market to lessen the prevalence of fraud. Yet, it appears that the platform is having trouble confirming stolen NFTs.
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Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.