OpenSea Listing Alerts Implemented After Exploit

The NFT marketplace giant, OpenSea, discovered a major exploit within the marketplace’s trading systems. Now, Opensea has created listing alerts and implemented several tools to identify erroneous sales orders. Users can quickly check their NFTs immediately for any undisclosed transactions.

The transaction errors were caused by members failing to cancel open listings because of the high gas prices. Later, the members would transfer the NFT from their wallets to another blockchain address. However, the sales order was still active in the background when the NFT returns to its original location. Unscrupulous traders were able to find the NFT items and purchase them, making a profit.

OpenSea will soon offer an additional tab called “listings” on its dashboard that allows members to view all active orders. The open orders will be displayed by a simple dropdown menu. The two options indicate “active” and “inactive” listings. Users can then scan the entries for errors and cancel any unwanted listings.

Update:

OpenSea has reimbursed 750 Ethereum (or, $1.8 million dollars) to users who accidentally sold valuable NFTs below their going market rate due to the “inactive listings” exploit.

Never miss important NFT drops: Take a peek at our NFT Calendar!

Get the latest on trending NFTs, view upcoming NFT drops, NFT news, announcements, and events at NFTEchoNews.com

- Advertisement -Newspaper WordPress Theme

Latest news

OpenSea Acquires GEM.xyz, NFT Aggregator For Skilled Traders

OpenSea formally announced its decision to acquire NFT marketplace aggregator GEM.xyz. The powerful NFT aggregator was acquired for an undisclosed price. Devin Finzer, OpenSea...

Ink Master Jesse Smith Enters NFT Space

Jesse Smith, a tattoo artist from the hit television show, Ink Master, is stepping into the metaverse with his new NFT project. Smith's NFT...

Bored Ape Yacht Club Instagram Hacked, Millions Worth Of NFTs Stolen

Bored Ape Yacht Club’s (BAYC) official Instagram profile was hacked on April 25th, 2022. The hackers promoted a fraudulent phishing link to scam millions...

Deadfellaz Customized Snowboards And Skis Via Gilson Collab

Deadfellaz NFT has partnered with Gilson to create snowboards and skis customized to a holder's NFT. Holders of Deadfellaz, Deadfrenz, S1 Infected, and Betty...

Mastercard: Files 15 NFT & Metaverse Trademark Applications

Mastercard has filed 15 NFT (nonfungible token) and metaverse trademark applications with the United States Patent and Trademark Office (USPTO). The trademark filings include plans...

World Of Women Starmap: Past, Current & Future WoW Endeavors

World of Women (WoW) released their star map, a play-off of the classic NFT "Roadmap" concept but created, but in the image of a...

FROM SHOP

error: Content is protected !!