OpenSea CEO Believes NFT Exploit Happened Due To A Phishing Attack

The OpenSea CEO Devin Finzer believes the NFT exploits actually happened due to a phishing attack and it was likely not connected to the OpenSea website so let’s read furhter in today’s latest cryptocurrency news.

OpenSea says it is investigating the rumors of an exploit that occurred on the popular ETH NFT marketplace over the weekend and the users reproted that digital assets such as NFTs from the Cool Cats and doodle collections were stolen. The OpenSea CEO Devin Finzer tweeted that the exploit didn’t hit OpenSea at all but instead targeted the people that rely on the marketplace to trade and to maintain their digital assets. He tweeted:

“As far as we can tell, this is a phishing attack. We don’t believe it’s connected to the OpenSea website. It appears 32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen.”

In other words, people recieved other emails that tricked them into moving their NFTs into someone’s wallet, and the address that the blockchain explorer ETherscan labeled Fake_Phishing5169 has a balance of 641 ETH worth over $1.7 million. If the thesis Finzer has is correct, the attacker picked the perfect time to go phsihing. OpenSea released a new smart contract just a few days ago and asked users to migrate their holdings but the new smart contract came about to prevent a new type of exploit which saw the holders sell their assets at very low prices. Finzer urged the users to make sure they are using the official website and to be on the lookout for similar emails.

As recently reported, The Web3 communications platform Metalink will work with NFT marketplace OpenSea on launching three official channels for OpenSea and will focus on support, announcements, and customer support. The news today came in the wake of a rough month for OpenSea with the company being forced to respond to the users that complained of inactive listings, exploit on the platform which led to the valuable NFTs being sold for less than they were actually worth. OpenSea tapped metalink after it faced an issue with scammers posing as employees on Discord as well as other communication problems.