OpenSea users lost NFTs worth $1.7 million in likely phishing attacks

NFT

On Saturday, hundreds of NFTs were stolen from the OpenSea platform. As per a report from Blockchain security service PeckShield, the attacker targeted 32 OpenSea accounts and stole 254 tokens. Most of the attackers took place between 5 PM and 8 PM ET. As per an estimate, the total value of stolen tokens could be more than $1.7 million.

OpenSea is one of the most valuable companies operating in the NFT segment. The company was valued at $13 billion in the recent funding round. It offers a simple interface for users to list NFTs and bid on tokens.

The company uses the Wyvern Protocol, the open-source standard underlying most NFT smart contracts. Attackers appeared to have exploited the same protocol in this attack.

OpenSea CEO Devin Finzer also claimed that these attacks were not originated from OpenSea’s website, its various listing systems, or any emails from the company. So we are still waiting to understand what exactly happened on the platform that led to this attack.

Also see: Best NFT marketplaces to buy and sell NFTs

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