OpenSea’s Seaport Function Makes Stolen NFT Still Sellable

Key Points:

• The sixth largest holder of BAYC said that twice a week, someone used the Match Advanced Order function to sell to him the stolen goods marked as “suspicious activity review.”
• Experts analyzed that hackers can complete the sale of NFTs blocked by the OpenSea mark through the Match Advanced Orders function of the OpenSea Seaport protocol.
• This raises concerns about the censorship features, as stolen NFTs can still be traded on the marketplace. Some users are starting to get bored with the platform.

Recently, holders discovered that stolen NFTs are still being sold by rampant hackers on Opensea’s Seaport marketplace.

Franklin, the sixth largest holder of BAYC, tweeted that twice in a week, someone used the “Match Advanced Order” function to sell to him the stolen goods marked as suspicious activity review (yellow mark, this is a warning of steal BAYC NFT).

In this regard, Cosine, the founder of SlowMist Technology, analyzed that hackers can complete the sale of NFTs blocked by the OpenSea mark through the Match Advanced Orders function of the OpenSea Seaport protocol. This bypasses OpenSea’s security policy (blocking cannot be sold), but there needs to be a buyer to bid here.

This raises concerns about OpenSea’s censorship features, as stolen NFTs can still be traded on the marketplace. Some users are starting to get bored with the platform.

OpenSea says it is working with other companies in the NFT space to reduce scams. However, it seems that verifying stolen NFTs on the platform is having a hard time.

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Harold

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