Opensea CEO Dismisses $200 Million Hack Rumor, Claims Incident Was a Phishing Attack – Security Bitcoin News

Opensea co-founder and CEO, Devin Finzer, has denied rumors that the non-fungible token (NFT) marketplace’s codebase was breached and that attackers had stolen $200 million. Finzer said that an investigation showed that the attacker was holding $1.7million worth of Ethereum in his wallet. He did this by using phishing schemes.

Reports say that Attacker has returned some stolen NFTs

Devin Finzer is the CEO and co-founder of Opensea. He denies reports that NFT markets have been breached. Instead, Finzer has characterized the alleged hacking incident as a “phishing attack,” which he insists is not connected to Opensea’s website. He did, however, admit that some of the more than 30 users that “signed a malicious payload from an attacker” had their NFTs stolen.

Finzer was unable to give the approximate value of the stolen NFTs but Mr. Whale, a tweeter suggested it in an a tweet, posted a few hours after the breach, that “over $200M [was] lost already.” Another user named Jacob King rejected Finzer and Opensea’s phishing attack claim. The user claims that a “flaw in their code led to one of the largest NFTs exploits in history.”

#OpenSeaNow, he lies and claims that the exploit was phishing emails.

However, this is not the truth. It was an error in their code that caused one of the most expensive websites to be created. #NFTHistory’s exploits pic.twitter.com/qGRq0MaFT1

— Jacob King (@JacobOracle) February 20, 2022

However, Twitter allows you to tweet. threadThis post was posted February 20, by Finzer. According to Finzer, an investigation showed that attackers returned NFTs. He explained:

The attack doesn’t appear to be active at this point — we haven’t seen any malicious activity from the attacker’s account in 2 hours. Some NFTs were returned.

Finzer stated that Opensea had not received any recent phishing messages. The CEO said at the time when he posted the thread, the team was yet to determine the website that had been “tricking users into maliciously signing messages.”

Attackers’ Wallet Has $1.7 Million Worth of ETH

Also to back the findings of Opensea’s investigation, the CEO pointedNeso shared the technical context of what happened, which is available here.

Finzer ends his thread dismissing rumorsThat suggested this hack could have been worth up to $200 million. According to him, the Opensea team had determined that “the attacker has $1.7 million of ETH in his wallet from selling some of the stolen NFTs.”

Rumours of an exploit involving OpenSea-related smart contracts are being investigated. This seems to be an attack on OpenSea that involves phishing. Do not click links outside of https://t.co/3qvMZjxmDB.

— OpenSea (@opensea) February 20, 2022

In another place thread, Finzer said after his team got in touch with “dozens” of people and teams across the NFT space, and he is confident this was a phishing attack. He added that Opensea was now actively “working with users whose items were stolen to narrow down a set of common websites that they interacted with that might have been responsible for the malicious signatures.”

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.