OpenSea Bug Burned $100,000 Worth of Ethereum NFT
- OpenSea bug burned $100,000 worth of Ethereum NFT.
- 42 NFTs from different collectors, affected by the bug
- OpenSea has failed to comment publicly on the situation till now
OpenSea, a peer-to-peer marketplace for non-fungible tokens (NFT), rare digital items, and crypto collectibles. Currently, it was the single trending platform for purchasing NFTs. In August OpenSea topping $3.4 billion worth of transaction volume. But on September 7, some OpenSea users found loss of nearly $100,000.
Accordingly, lead developer of the Ethereum Name Service (ENS), Nick Johnson, on Tuesday tweeted that a bug introduced to the transfer page in the past 24 hours unexpectedly burned NFTs that users attempted to transfer to an Ethereum wallet using an ENS name.
Today I accidentally burned the first ENS name ever registered. A short .
— nick.eth (@nicksdjohnson) September 7, 2021
More so, ENS lead developer, Johnson himself lost a non-fungible token (NFT) due to the bug. According to data that he composed, collectors lost at least 42 NFTs. Each collection of NFT suggests that a minimum loss of 28.44 ETH worth of NFTs or over $99,000.
Even more, Johnson confronted the bug while transferring the first ENS name ever registered, rilxxlir.eth. He attempted to transfer that NFT representing the ENS name into his personal wallet (nick.eth), but OpenSea transferred the NFT to a false wallet address. Johnson reported that “OpenSea’s interface failed to resolve the ENS name attached to his wallet and instead the to address with some nonsense.”
In the beginning, Johnson tweeted that he was the first and supposedly only victim of the bug, after talking to OpenSea which he said has fixed the bug. Later he found that nearly 42 NFTs from different collectors were apparently affected by the bug.
Who needs EIP-1559 when @opensea bugs casually burning 23 ETH worth of NFTs.
— vinyl_bones (@vinyl_bones) September 8, 2021
I lost 1.8 ETH to this, not a game changer but still a decent amount. Please make this right to all affected @dan_OpenSea https://t.co/2stI0NoHAx
Moreover, other users who have affected by this incident also tweeted about the situation, asking OpenSea for a response and compensation. But OpenSea has failed to comment publicly on the situation till now. Eventually, Johnson tweeted about the marketplace is still writing a postmortem regarding the situation.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/opensea-bug-burned-100000-worth-of-ethereum-nft/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
