Scams

OpenSea Users Hit in Phishing Attack

NFTs worth millions of dollars have been stolen

Rebecca Lea Morris
2 min readFeb 21, 2022

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3 red die with the letters “N”, “F”, “T” on them sitting on top of computing components and money.
Photo by Andrey Metelev on Unsplash

OpenSea, one of the most popular NFT marketplaces, has had its fair share of trouble recently. From a glitch that allowed expensive NFTs to be sniped for much less than they were worth, rampant plagiarism on the platform, and backlash after introducing limits to the number of NFTs users can mint, it’s been far from smooth sailing for the $13 billion tech company.

This weekend OpenSea’s troubles continued when 17 of its users lost hundreds of NFTs, which were worth millions, seemingly because of a phishing attack. The stolen NFTs include popular items from Bored Ape Yacht Club and Azuki, according to a spreadsheet put together by PeckShieldAlert.

Although the investigation into what happened is still ongoing, the current explanation endorsed by OpenSea CEO Devin Finzer is that victims were tricked into signing a contract that was then used to transfer their NFTs to the attacker. Finzer said on Twitter that while they do not yet know the source of the attack, they are confident it did not come from them.

Unfortunately, crypto phishing attacks can be incredibly sophisticated. Twitter user thomasg.eth, founder of a decentralized autonomous organization called Arrow, reported one elaborate such…

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