The OpenSea NFT marketplace bug was reportedly discovered on Dec. 31, the bug undervalued token causing them to be bought at their previous listed prices. This act led to the loss of about $750,000.
An attack has purportedly been discovered in the front end of prominent nonfungible token (NFT) marketplace OpenSea, allowing users to acquire popular NFTs at their prior listing price.
The exploiter appears to have purchased NFT items from the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) at their previous listed price and then sold them for the current market price. BAYC #9991, BAYC #8924, and MAYC #4986 are among the NFTs that are affected.
A person named jpegdegenlove is suspected of profiting $332 Ether (ETH) ($754,000) by exploiting the present issue. A similar scenario was seen in an earlier exploit on December 31, in which a problem appeared to come from the transfer of assets from the OpenSea wallet to a separate wallet without cancelling the listing.
When a person posts their collection for sale on the OpenSea and then decides to cancel it for some reason, the marketplace levies a substantial fee, and the collectible’s floor price drops as well, according to one Twitter user.
Users discovered a workaround by transferring their assets to a new wallet, which removes the listing from OpenSea automatically. However, the problem keeps the listing active through OpenSea’s API.
On Rarible, another NFT marketplace that leverages OpenSea’s API, users may see if their listing has been removed. The defect was allegedly flagged following the December occurrence, but the platform did nothing to resolve the problem, according to the user.
In 2021, NFTs grew in prominence, with large businesses and celebrities jumping on board, attracting an increasing number of scams.
