OpenSea’s one-week period for users to migrate lists of non-fungible tokens (NFTs) expired on Friday. After the deadline, the platform announced that some features of the site may be temporarily unavailable due to the migration.
On Saturday, OpenSea rolled out a new smart contract and encouraged users to start migrating their NFT lists from the old contract to the new one. NFT Marketplace mentions that the update provides new features such as grouped lists and more descriptive captions, which ensures that all inactive lists expire.
However, a few hours after the announcement, the platform reported phishing attacks that caused some users to lose NFT. The OpenSea team then launched an investigation to find out what happened. Devin Finzer, co-founder of OpenSea, encouraged affected users to contact support.
NFT Mintable has committed to returning stolen NFTs in a recent OpenSea phishing exploit. The team noted that some of the missing NFTs were listed on another marketplace called LooksRare. According to Mintable founder Zack Burks, Mintable has decided to acquire the NFTs and return them to their original owners.
On Friday, the contract transfer was completed, and the platform informed users that active ads on the site may not be visible, and the minimum prices may vary. However, the platform stated that this is temporary. To protect listings, OpenSea has temporarily disabled bids and purchases until the migration is complete.
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In the meantime, the blockchain community is on guard against NFTs. Youtuber Coffeezilla and community members have stopped an alleged NFT fraud targeting $ 20 million in digital assets. An anonymous user has published a detailed report revealing current claims against team members involved in the alleged NFT fraud.
