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Opensea nft hack

Do not click links outside of opensea.io.”

On Saturday, February 19, OpenSea had called on users to start migrating their listings as part of a planned upgrade of its existing smart contract to a new smart contract. Listings falling outside the deadline would expire, requiring users to list their NFTs afresh.

Experts believe the attacker planned to take advantage of this window frame to carry out the exploit, as users pay little attention to security when trying to beat deadlines.

According to developers at Isotile, the attacker seems to have planned the exploit 28 days earlier in anticipation that he would collect as many signatures as possible.

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A widely-reported phishing attack on OpenSea that reportedly cost users of the marketplace millions of dollars in stolen non-fungible tokens (“NFTs”) has led to a $1 million-plus lawsuit, which was filed by the former owner of a Bored Ape NFT that was allegedly stolen in the headline-making hack. According to the complaint that he filed in a federal court in Texas on February 18, Timothy McKimmy claims that his Bored Ape Yacht Club NFT – Bored Ape #3475 – was stolen when OpenSea was hacked this month, and then listed on the NFT marketplace and sold to another party for 0.01 ETH ($2.66), “a literal fraction” of what it was worth.

Opensea nft hack

Web3, the famously decentralised internet technology that has centralised much of the NFT marketplace into a single shopfront (Opensea), woke over the weekend to find that some of its user’s wallets had reportedly been compromised, and loads of precious NFTs stolen.

The alarm was sounded yesterday, when some users began noticing that some NFTs—including some Bored Ape Yacht Club and Mutant Ape Yacht Club jpgs—were missing from their wallets. Aside from the fact it appears to have been the work of a single person (or at least a single account) that’s all we know for sure at time of posting.

Opensea nft hacked

NFT. The issue was found by security firm Check Point Research, which noticed tweets from people claiming they were hacked after being gifted NFTs, according to a blog post. The researchers talked to one of the people saying they were attacked, and found vulnerabilities proving an attack could happen this way and reported the problems to OpenSea. The security firm says the NFT trading platform fixed the issue within an hour and worked with researchers to make sure the fix worked.

While the attackers potentially being able to drain entire wallets is certainly not a good look for OpenSea, it wasn’t a simple matter of just gifting someone an NFT — the exploit needed its target to click on a few prompts first, including one that might include transaction details.

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The attacker’s wallet currently contains 641 Ethereum worth around $1.7 million, as well as a selection of the stolen NFTs.

On-chain data shows that they deployed a smart contract on January 22 that used a call to OpenSea’s contract. It’s thought that they tricked users into signing a transaction that transferred their NFTs to the hacker’s wallet, likely by sending out an email that replicated the ones OpenSea sends out. Once they had duped a sufficient number of NFT collectors into signing the malicious transaction, they executed the attack to drain their wallets.

This unpleasant occurrence once again brings to fore one of the concerns of Web3– self-custody risks.
The incident exposes the risks of using Web3, where signing any malicious Ethereum transaction can have disastrous consequences.

Robert Armijo is the former owner of three valuable NFTs—one Bored Ape and two Mutant Apes—which he bought for a total of around $300,000 between November 2021 and January 2022. On February 28, he filed a lawsuit against the NFT marketplaces OpenSea and LooksRare, as well as the company behind the Bored and Mutant Ape projects, Yuga Labs. The lawsuit was filed only ten days after another former Bored Apes owner filed suit against OpenSea for allegedly failing to secure their platform.

On February 1, he was the victim of a phishing attack in which he lost the three pricey NFTs.
He had agreed to trade one of his Mutant Apes for another NFT he was interested in, but he and the prospective buyer had to perform the transaction through a platform other than OpenSea or LooksRare because it was a swap rather than a purchase for ETH.

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Whereas a phishing assault remains to be but to be confirmed, the incident exposes the dangers of utilizing Web3, the place signing any malicious Ethereum transaction can have disastrous penalties.

In latest months, many Bored Ape Yacht Membership holders have misplaced their high-value NFTs in comparable assaults after signing away their belongings. As NFTs have attracted mainstream curiosity and their costs have soared, hackers have more and more turned to the house to focus on collectors. Many of the affected OpenSea customers have fallen sufferer to phishing assaults that tricked them into signing malicious contracts.
For all the advantages of self-custody wallets and decentralization, such assaults elevate questions on whether or not crypto and NFTs are really prepared for mass adoption.

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On-chain data posted by Peckshield shows that they stole over 250 pieces from high-value collections like Bored Ape Yacht Club, Doodles, Azuki, and NFT Worlds. Based on the floor prices for the collections, Crypto Briefing estimated the total haul to be worth over 1,000 Ethereum, or $3 million. The attacker’s wallet currently contains 641 Ethereum worth around $1.7 million, as well as a selection of the stolen NFTs.

News of the attack first surfaced on Twitter late Saturday when users reported suspicious activity tied to their accounts.
It was initially rumored that the exploit was linked to a smart contract that OpenSea users have been migrating their NFTs to over recent weeks. However, OpenSea pointed to a likely phishing attack.

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Thestatementclaims,

“We are actively investigating rumors of an exploit associated with OpenSea related smart contracts. This appears to be a phishing attack originating outside of OpenSea’s website. Do not click links outside of opensea.io.”

BAYC NFTs Stolen

Since all transactions on the blockchain are visible to all, it can be seen that the attacker had transferred multiple NFTs from different users to their own addresses without paying for them.
Some of these NFTs belong to the popular Bored Ape Yacht Club and the Mutant Ape Yacht Club. The hacker also stole an NFT from the Azuki collection and later sold it for 13.4 ETH, approximately $36,000. The attacker still has around 600 more ETH left in his wallet, which amounts to a massive $2 million.

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