(OP)inions NFTs hacked

February 21, 2022 

NFTs (non fungible tokens) have exploded in popularity with investors over the past year, but are now facing security concerns.  Hackers are stealing and selling high-valued NFTs from users on OpenSea, the worlds largest NFT exchange, causing chaos and confusion in the broader NFT community.  

The current mechanism for the hack is currently unknown, but OpenSea placed a red banner at the top of its site Saturday night saying “We are actively investigating rumors of an exploit associated with OpenSea related smart contracts. This appears to be a phishing attack originating outside of OpenSea's website. Do not click links outside of opensea.io.”  

Blockchain recordsshow that hackers were able to transfer numerous NFTs from different users to their address for free. Stolen NFTs included examples from the Bored Ape Yacht Club, Mutant Ape Yacht Club, and several other popular collections. The hackers have already sold some of the NFTs worth more than $2 million.  

In one instance, the hacker stole numerous NFTs from one userbut then returned all the NFTsexcept one, which is currently frozenon OpenSea.  

Industry experts have said that these types of web3 platforms depend entirely on wallets with universally poor security UX, and theres very little the platforms can do about it.  

OnePro Special Analyst

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