Magic Eden said that it would refund any users who unintentionally bought unverified NFTs as a result of an update to its tools features.
As a result of a recent hack, Magic Eden disclosed that it will issue refunds to any users who unintentionally purchased unverified NFTs that appeared on the collection sites.
The Solana-based NFT marketplace issued a statement claiming that a fault was introduced in an update to its Snappy Marketplace and Pro Trade tools features. As a result, these two tools listed unverified NFTs.
Technically speaking, the recently installed “activity indexer” was unable to find fake NFTs. Instead, the flaw made it possible for these tokens to avoid verification and appear alongside real collections.
The news comes days after several Magic Eden users claimed that unusual visuals, such as sexual pictures and stills from the television show “The Big Bang Theory,” appeared on the platform in place of the NFTs.
On January 4th, however, the platform clarified that the occurrence was a one-off UI problem and reiterated that their smart contract is still secure. The report claims that 25 fake NFTs were sold across four collections in the previous day as a result of the hack. The market is currently investigating whether any other NFTs were impacted.
“We have identified in the last 24 hours, the impact was contained to 25 unverified NFTs sold across 4 collections. These unverified NFTs showed up on the collection pages and transactions of unverified NFTs showed up in the activity tabs of the collections. The issue has been resolved as of this morning.”
In addition, expensive and well-known Solana-based collections ABC and y00ts received counterfeit NFTs.
