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


FILE PHOTO: A projection of cyber code on a hooded man is pictured in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration

LONDON (Reuters) - 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 records the ownership status of digital files on blockchain. OpenSea is the largest marketplace for speculators and enthusiasts to trade their NFTs, with $4.8 billion worth of sales volume so far in January.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
Emerson proposes to acquire remaining shares of AspenTech at $240 apiece
Data analytics firm Palantir jumps as AI boom powers robust software adoption
Tax fraud investigators search Netflix offices in Paris and Amsterdam, says source
Singapore's Keppel to buy Japanese AI-ready data centre
Tesla increases wages for staff at German gigafactory by 4%
Apple explores push into smart glasses with ‘Atlas’ user study
Japan's Kioxia sees flash memory demand almost tripling by 2028
Hacker gets into woman’s email, changes every password, tries to make purchases
Foxconn says Oct revenue +8.59% y/y, Q4 outlook good

Others Also Read