Second Bug?? What's happening on OpenSea???
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What’s happening at OpenSea? I don’t get, like why will the biggest NFT market place be open to vulnerability? Yesterday I came across a post saying that OpenSea was open to possible $750,000 vulnerability, I was Okaying just possible not open yet, that was my thought.
Not done thinking about that, going through a finance news update and came across a post that a second bug has been found within 24 hours which gave access or made it possible for users to buy NFTs worth millions of dollars for just a few thousands. If this isn’t a blunder I don’t know what it is, NFTs worth millions being sold for thousands??
Reports says that OpenSea are still not open about it, but the affected victims are still trying to recover their losses and I just hope they do because I don’t know what will happen to see your NFTs that worth millions being sold for just a few thousands.
And I also got to know that it wasn’t just OpenSea that was targeted but also Bored Ape Yacht Club NFT too damn!!! Now I’m confused as to why the vulnerability, are assets not safe even for the biggest market place? Because also BAYC NFTs that was targeted was bought for just a few dollars and sold again for a value that was even lesser than what it was bought. isn’t that mind blowing? And I believe the people responsible made millions from it.
According how it was explained about the bug, it was said that the bug allowed users to buy NFTs that was listed at the initial price in the past and not the current value and the owners didn’t even realize that the NFTs was still on sale. The hackers got away with NFTs worth about $1million across various wallets that was below market price
And as for Bored Ape Yacht Clun (BAYC) NFTs, the bugs allowed traders get NFTs that was worth about $220k for about $2k, if this isn’t a blunder of the highest order I don’t know what else. Now imagine being the lucky buyer because obviously the buyer had to quickly put it up for sale again and got away with $200k the amount which he sold it for.
For OpenSea to recover the amount they had to set up a scheme for users to report vulnerabilities, like why will there be vulnerability in the first place? I know no one is above being vulnerable but come on you are the largest NFT market place security should be your top priority.
I also learnt that this isn’t even the first time and that they experienced up to 25 cases since their launch, a whole 25 since 2020 and no improvements? Seriously check needs to be done
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https://twitter.com/Sweetboydave2/status/1486034118672539648
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They seriously need to upgrade there systems against cyber attack and maybe if they don't have capable hands or experts in cyber security i suggest they start looking for one. 25 cases is something that should bring panic to anyone's heart.
Honestly it's terrfying
Indeed.
People are scared of being a victim of such losses.
They better do something about it soon enough