Hacker Attack on NFT Platform: Nearly $2 Million Lost in Cryptocurrencies

NFT (non-tradable token) platform OpenSea has been on the agenda recently with theft of NFTs. The hackers, who couldn’t get past the platform’s firewall, launched an email phishing hunt and stole hundreds of virtual artifacts.

Hackers have stolen hundreds of NFTs from users of OpenSea. According to a report compiled by blockchain security service PeckShield, the hackers targeted 32 accounts and stole 254 tokens within hours of the evening’s attack. Among the tokens were the tokens of Decentraland and Bored Ape Yacht Club.

Molly White, who runs the Web3 Is Going Great blog, predicted the value of the stolen tokens as 641 Ethereum. It currently equates to $1.7 million.

phishing attack

Devin Finzer, co-founder and CEO of OpenSea, tweeted, “ We think this is a phishing attack .” said. Estimates are in this direction as only 32 users were targeted. 

However, the attack appears to have originated from a resilience in the open source standard Wyvern Protocol. Also, OpenSea was in the process of updating its contract system when the attack occurred. However, the platform denied that the attack was caused by new contracts. Still, many details of the attack remain unclear. 

OpenSea, which has reached a value of 13 billion dollars in a recent investment round, is one of the leading companies in NFT technology. It provides a simple interface for users to list, browse and bid tokens without interacting directly with the blockchain.

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