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Mintable Recovers NFTs Stolen In OpenSea Exploit

February 24, 2022
in Australian Crypto News
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NFT marketplace Mintable has recovered three NFTs that were stolen in a recent phishing attack on the OpenSea platform. The company is now looking for the owners of the NFTs so as to return three Azuki NFTs that were among those stolen:

Azukis Found on LooksRare

According to a press release issued by Mintable, its team was acquiring Azuki NFTs on the LooksRare platform for its February Floor Buster flash sale when it found and bought Azukis #1178, #4176 and #1180, which had been lost in a February 19 exploit on OpenSea. The team at Mintable said in an announcement that it “would like to return them to their previous holders”.

The exploit on OpenSea saw about US$1.75 million worth of NFTs stolen via a phishing scam. Zach Burks, CEO and founder of Mintable, said: “This exploit was possible because of a bug on OpenSea, and if OpenSea isn’t going to make it right, someone has to.”

Burks added that “for some of these people, all their net worth is tied up in their NFTs and it’s horrible to have them stolen. We like the Azuki community and we want to help give back to the people who lost over $140,000 through the exploit.”

This weekend when buying azukis for our fire sale (selling below floor for free profit to users) we discovered some of the stolen @AzukiZen from the opensea hackb…

We decided to buy them and give them back to who they were stolen from. Here’s what happened

1/🧵 https://t.co/cNhIvCMhso

— Zach Burks (@ZachSpaded) February 23, 2022

The attack was initially reported to be an exploit, but OpenSea CEO Devin Finzer subsequently stated that users had fallen victim to a phishing attack that “did not originate” on OpenSea itself. Finzer added that users had inadvertently “signed a malicious payload from an attacker, and some of their NFTs were stolen”:

I know you’re all worried. We’re running an all hands on deck investigation, but I want to take a minute to share the facts as I see them:

— Devin Finzer (dfinzer.eth) (@dfinzer) February 20, 2022

OpenSea in Troubled Waters

OpenSea is undergoing difficult times as it continues to fall victim to exploits and other malicious activities. The platform is also being sued for US$1 million in damages after a user had his Bored Ape #3475 stolen from his crypto wallet.

Many users have taken to Twitter to express their concerns:

Probably nothing 👍

— ⚡AloeVe⚡0x(🪨d🐵)’n Caked (@ve_aloe) February 23, 2022

Great job team… very disappointing that OpenSea doesn’t do anything or upgrade their poor service! Can easily fix this by setting up “cooling period” on listings post transfer. This will automatically give everyone enough time to react to anything stolen

— Clone X 5344 (@Pikachao23) February 23, 2022

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Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.


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