OpenSea Hack: NFTs Worth Millions Stolen From Users

According to NFT Platform, a hacker may be stealing valuable NFTs from its users.

OpenSea users face another attack

Hackers are attacking high-value NFTs on the OpenSea market. NFT holders all over the globe are in trouble as hackers are reportedly actively trying to steal NFTs and then flip them for a profit on OpenSea. OpenSea is the largest NFT marketplace in the world. After it was discovered that the code had a bug, malicious actors were able to steal NFTs at old listed prices without their knowledge.

OpenSea still hasn’t cracked the hack but the marketplace posted a statement to its website and Twitter.

According to the statement,

“We are investigating rumors about an exploit related to OpenSea-related smart contracts. This appears to be an attack on OpenSea’s website. Do not click on links that aren’t from opensea.io.

BAYC NFTs Stealthy

All transactions on the blockchain can be seen by all. This means that it is possible to see that an attacker transferred multiple NFTs to different addresses from different users without having to pay for them. These NFTs belonged to the Mutant Ape Yacht Club, and Bored Ape Yacht Club. Another NFT was also stolen from the Azuki collection by the hacker, which was later sold for 13.4 Ethereum, or approximately $36,000. He still has 600 ETH in his wallet. This amounts to a staggering $2 million. It is also showing strange behavior. In one instance, it returned multiple NFTs it had stolen from one user. The stolen NFTs included a BAYC NFT that the marketplace had frozen because of suspicious activity.

Users are able to use Phishing Pages as a trick

OpenSea’s latest smart contract addresses the problem of inactive listings. This allowed scammers to steal NFTs by charging collectors a fraction of the previously listed price. Many NFT holders on OpenSea had their valuable NFTs stolen by scammers without knowing. To fix this problem, the marketplace is asking users to upgrade their smart contracts. Users of this platform may still be in danger. A new threat has emerged. A malicious agent is trying to phish users using a fake page that looks like it was created for smart contract upgrades. Users are losing valuable NFTs and their information if they don’t know the difference.

Hudson Jameson, Ethereum core developer, said that this is not an OpenSea attack but a phishing problem. He tweeted:

“It’s a shame that so many people are calling this the OpenSea hack when only 50 people fell for the phishing emails. Although it’s horrible that this happened, OS has many other things they don’t do correctly and calling this hack only adds to their stress.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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https://cryptodaily.co.uk/2022/02/opensea-hack-nfts-worth-millions-stolen-from-users