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Mintable recovers and returns 3 NFTs stolen in OpenSea attack to users

The company said it bought Azuki #1178, #4176 and #1180 for around 13.35 Ethereum each and returned them to their previous owners. That's the equivalent of $36,000.

Mintable representatives revealed how they arrived at the listings in a recent declaration. In particular, the team found NFTs in the LooksRare marketplace. They said the $10 billion market has a reputation for selling stolen NFTs.

According to Mintable, they purchased Azuka's NFTs due to their ongoing promotional campaign. Specifically, the team intended to sell the NFTs below minimum prices to gain exposure.

OpenSea Exploration

Last week, a phishing attack targeting OpenSea users resulted in $1.7 million in stolen NFTs. One of them was Bored Ape, which led its owner to sue the market for $1 million.

OpenSea founder Devin Finzer has denied responsibility for the hack, indicating that it did not result from a problem with the site.

“As far as we know, this is a phishing attack. We do not believe it is connected to the OpenSea website.”

Calling OpenSea

Mintable founder and CEO Zach Burks criticized OpenSea for doing nothing to help victims. He said a bug on his website allowed hackers to steal NFTs.

I started looking on twitter and found that no one got any response from the OS as to what they would do for it…. Unfortunately, it seems that even though they have over a billion in cash on hand, they cannot afford a 1.7 million refund to their users.

Well, someone has to help people...

— Zach Burks (@ZachSpaded) February 23, 2022

Burks highlighted the financial impact on some hacking victims, calling it horrific.

"For some of these people, their entire net worth is tied to their NFTs... it's horrible to have them stolen."

“We like the Azuki community,” added Burks. “We want to help give back to people who have lost more than $140,000 from exploration.”

Past security issues

In January, a bug in OpenSea allowed hackers to steal $750,000 worth of ETH from the site as users were able to list items at drastically lower prices. Another issue caused customers to lose around $100,000 worth of ENS NFTs for a write address.

These bugs highlight security risks in Web 3 applications because this technology is so new. OpenSea is the largest NFT marketplace, hosting the majority of the $31.4 billion worth of NFTs. Furthermore, the entity behind it has a valuation of $13.3 billion after its most recent funding round.

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About the author


I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

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