OpenSea hacked for $780,000 - page 2.

mardaed

full member

Activity: 994

Merit: 105

Quote from: hugeblack on January 27, 2022, 08:07:41 AM

It seems that the platform has contained the matter and paid the amount instead of jeopardizing its reputation.

By the looks of it, it seems to be the situation, they are indeed hiding the situation. However, with this information coming out now, I think that this will affect OpenSea now. I just hope that they focus more on the quality of their security, in order to assure their users, who will surely panic and be worried upon knowing this incident.

hugeblack

legendary

Activity: 2702

Merit: 4002

It seems that the platform has contained the matter and paid the amount instead of jeopardizing its reputation. Such events would resonate if it was for many individuals and not for one user.
The problem is that the existence of such vulnerabilities will cause people to believe that the technology has been hacked (ETH blockchain) and not the fault of the platform.

Also, the delay in correcting the bug is not a good indicator, so the average user should not keep the money in the platform for a long time.

Generally, it is good to hide such news for the industry as a whole but it is bad for OpenSea users.

dimonstration

hero member

Activity: 2716

Merit: 698

Dimon69

Maybe they are covering the hacking event so that other user will not panic and to hide the exploit point on there system to minimize the damage done to different user. As I understand the situation, The funds affected is from user who's using the opensea so they are just planning to fix this privately before they announce the incident. This is my first time to read this news while I'm always using opensea to list my NFT's and check my listing daily.

Is there any news if all funds will be recover from the hacker?

vv181

legendary

Activity: 1932

Merit: 1273

This is frustrating noting those kinds of bugs have already happened since December 2021.

Opensea have officially undisclosed the bug/exploit on their platform on January 26 January: Important updates for listing and delisting your NFTs

What I found ironic is they stated:

Quote from: https://opensea.io/blog/safety-security/important-updates-for-listing-and-delisting-your-nfts/

Our support team has also been working tirelessly to reach out to affected users and reimburse them until our product experience can make this risk clearer. We understand the community’s frustration that we haven’t been more public in our communication on this topic. Simply put, we were concerned that the more attention we drew to this mechanism, the more it could be abused by bad actors. As a result we focused our efforts on reaching out 1:1 with affected users rather than announcing this news more broadly.

I understand that, the move is pretty plausible, but the bug is already informed since the first known bug getting exploited[1]. Yet they need a month to finally fixed it on the front end side Roll Eyes

[1] https://twitter.com/cap10bad/status/1476980294347538435

Kavelj22

legendary

Activity: 1778

Merit: 1474

🔃EN>>AR Translator🔃

Someone in my local board posted about the incident and i was wonder why no other topics discussing the attempt.

PeckShield company announced in a tweet that the famous platform dedicated for create/exchange NFTs with $3.5 billion in monthly trading volume has been hacked for 332 Eth equivalent to $780,000 by the actual price.
Tweet: https://twitter.com/PeckShieldAlert/status/1485547426467364864

The incident was reported three days ago without any official announcement from the platform. According to this article, this how the incident happened:

Quote from: https://nairametrics.com/2022/01/24/breaking-opensea-reportedly-hacked-for-780000/

A bug in the front end of OpenSea, one of the world’s biggest markets for Non-fungible Tokens (NFTs), is reportedly the cause of the hack, as it allowed users to buy popular NFTs at their previous listing price.

Topic: OpenSea hacked for $780,000 - page 2. (Read 272 times)