Cryptonews News

OpenSea Is Reportedly Being Exploited

Ethereum Hack

NFT Non-fungible tokens Opensea Security

Last updated: October 23, 2023 09:17 EDT

Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

Author Profile

Last updated:

October 23, 2023 09:17 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Major non-fungible token (NFT) platform OpenSea is reportedly under attack, with the perpetrator drawing out hundreds of ethereum (ETH).

Security and data analytics company PeckShield said today that OpenSea seems to be experiencing “a front-end issue,” while the exploiter got some ETH 332 (754,885).

At the time of writing (11:18 UTC), the shared address, per Etherscan, holds ETH 347 (USD 788,991). It shows 8 transactions, all completed within four hours.

The frontend refers to all the aspects of a software, website, platforms etc, with which the user interacts. An attacker may seek to identify attack vectors there, looking for subsystems with vulnerabilities.

Meanwhile, commenters are disagreeing on what may stand behind these transactions, with some also offering options such as “fatfinger seller”, or users not properly canceling their offers.

c) tax loss harvesting services

d) real attack

remark: the account doing the transactions was funded via https://t.co/giA6qqfdrL -> this smells like option c)
— schoad.eth🧬 (@buythedipagain) January 24, 2022

Some reports, posted about an hour earlier than PeckShield’s, claimed that an exploit is allowing the attacker to buy NFTs for old listing prices, possibly below the price floor.

https://www.twitter.com/0xHustler/status/1485526989255577601

Cryptonews.com has contacted OpenSea for comment.

Meanwhile, two days ago, OpenSea announced a new feature that alerts users if they’ve set up a listing “far below” the floor price (the lowest price for collection items).

To help you avoid costly mistakes, we’re happy to announce a new feature.

If you create a listing far below the floor price, a prompt will pop up asking you to confirm. This can help you catch any misplaced decimals or an extra 0 you might have missed! pic.twitter.com/wzDPdOroti
— OpenSea (@opensea) January 22, 2022