Monday, May 20, 2024

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New Listing Manager Of OpenSea After Bug

OpenSea Marketplace for Non-fungible Token (NFT) has introduced a new listing manager, with new  measures, to mitigate a user interface flaw that has resulted in NFTs worth more than $1 million being sold for well below their market value.

Three attackers exploited the flaw to buy popular NFTs at lower prices and sold for huge profits on monday.OpenSea has said that  “this is not an exploit or a bug” but rather “a problem due to the nature of the blockchain.”

OnTuesday the marketplace rolled out a new listing manager, with a dashboard showing all of the inactive listings of user’s, they can cancel each listing with one click there.

In addition to the new dashboard, OpenSea has been reaching out to affected users and compensating them, the spokesperson said, adding that they had not “communicated extensively about the issue” to avoid bringing bad actors to the attention.

Over the next two days, OpenSea will roll out two other features to address the go-to-market issue, the company said. The first feature is that when users transfer NFTs out of wallets where they have an active list, OpenSea will notify them that the NFT in question is an active list, giving users the option to cancel the transfer. The second function is to send an email to the user when the user transfers an NFT to a wallet that has an active listing for that NFT.

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