News Formal

Marketplace bug sees at least $1 million of NFTs sold below market price

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

LONDON : A bug in the largest NFT marketplace, OpenSea, allowed attackers to purchase at least $1 million worth of NFTs across multiple different wallets for significantly below market price, blockchain analytics firm Elliptic said on Monday.A non-fungible token (NFT) is a form of crypto asset, which reco

LONDON : A bug in the largest NFT marketplace, OpenSea, allowed attackers to purchase at least $1 million worth of NFTs across multiple different wallets for significantly below market price, blockchain analytics firm Elliptic said on Monday.

"Those old listings are now being used to buy NFTs at prices specified in the past - often well below current market prices." Around 20 minutes after Bored Ape #9991 was bought for 0.77 ether, it was sold on for 84.2 ether , according to blockchain records seen on OpenSea, giving the buyer a profit of more than $187,000.

One person paid a total of $133,000 for seven NFTs by exploiting the bug, before then quickly selling them on for $934,000, Robinson said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's Shimao sells stake in joint venture company to reduce debtChinese real estate company Shimao Group Holdings said on Monday it would sell a 26.67per cent stake in the joint venture Guangzhou Lihe Property Development for 1,844.5 million yuan ($291.48 million) in order to reduce its debt. ($1=6.3280 Chinese yuan renminbi) (Reporting by Tejaswi Ma
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »