The one-week window OpenSea gave users to migrate their non-fungible token (NFT) offerings ends today. After the deadline, the platform announced that some site features may be temporarily unavailable due to migration.
On February 19, OpenSea launched a new smart contract and urged users to start migrating their NFT offerings from the old contract to the new one. The NFT Market mentions that the update brings new features, such as bulk listings and more descriptive signatures, while also ensuring that all inactive offers expire.
However, hours after the announcement, the platform reported phishing attacks that led to some users losing their NFTs. After this, the OpenSea team launched an investigation to find out what happened. Devin Finzer, co-founder of OpenSea, urged affected users to contact their support team.
The NFT platform Mintable has promised to return the NFTs that were stolen in the recent OpenSea phishing attack. The team noticed that some of the missing NFTs were showing up on another marketplace called LooksRare. They decided to buy the NFTs and return them to their original owners, according to Mintable founder Zack Burks.
This Friday the migration of the contract ends, and the platform informed users that the active offers within the web may not be seen and that the minimum prices may vary. However, the platform says that this is only temporary. To protect bidding, OpenSea has temporarily disabled bidding and buying until the migration is complete.
3) To protect your listings, no bids or purchases can be made on your migrated items until the migration completes. At this point, your listings will reappear in your Active Listings tab.
— OpenSea (@opensea) February 25, 2022
Meanwhile, the blockchain community has been keeping an eye on NFTs. Youtuber Coffeezilla and community members stopped an alleged NFT scam that was believed to target $20 million worth of digital assets. An anonymous user posted a detailed report exposing existing complaints against members of the team running the alleged NFT scam.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.
