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Opensea prepared upgrade brought attack preys NFT migration

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Written by   5
5 months ago

Good day friends, hope you had a wonderful weekend?

Opensea revealed a new smart contract upgrade giving one week deadline yesterday the 20th February 2022. Regardless, of the urgency and the short deadline given, this opened up a little window of opportunity for hackers.

The NFT marketplace OpenSea has fallen victim to a phishing attack within hours after declaring the week long, intentional upgrade to delist people who are inactive on the NFTs platform.
On the 20th of February 2022, OpenSea announced a smart contract upgrade, which would require users to migrate their NFTs from Ethereum blockchain to a new smart contract.

The result of this upgrade is that users don't migrate across from Ethereum risk losing all their old, inactive listings which would currently not require any gas fees.

Nevertheless, the hurry and the short deadline opened window of opportunity for real hackers. Just within some hours after OpenSea’s upgrade notification, reports across numerous sources appeared about a continuous attack that targets the delisted NFTs.
Additional investigations showed that the attackers used emails to steal the NFTs before migration over Opensea’s new smart contract. Immediately a user allows the NFT migration from the deceitful email, the attackers will gain entrance to the NFTs.
So users are now notified to be cautious of all contacts from OpenSea and in an addendum to revoking all authorizations about the migration to the new smart contract.

Devin Finzer who is the CEO and also cofounder of OpenSea recognized the attack while verifying that 32 users lost NFTs. NFT marketplace is yet to crack the ongoing attack, Peckshield blockchain investigator questions a possible leak of user information that fuels the ongoing attack.
Nonetheless, Finzer requested that affected users should reach out to the company and “If you are concerned and want to protect yourself, you can un-approve access to your NFT collection.”

We should be very careful because hackers are really working hard to do more harm, especially since the creation of cryptocurrency.

#opensea #readcash #cryptocurrency

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Avatar for Cryptocheta1
Written by   5
5 months ago
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