To protect its consumers from the theft of digital assets, OpenSea, an online marketplace for non-fungible tokens (NFTs), is updating its standards. The platform has opted to include police officers in all theft cases, not only those involving highly charged conflicts. The business has also chosen to take action to make it easier to sell and buy back stolen goods if they are recovered. Based on input from the NFT community, whose members suffer when they misplace their NFTs or unintentionally buy those that have been stolen by scammers and wind up in legal trouble, OpenSea is implementing tiny but important improvements in its existing structures.
In the future, OpenSea will permit the selling and purchase of stolen NFTs if a police complaint is not registered about the incident within seven days of it happening.
“We're making it easier for users who reported an item stolen to re-enable buying and selling when they recover the item or determine they should withdraw their stolen item report. For example, we're finalising details on a simplified process that doesn't require a notary,” the marketplace founded in December 2017 revealed to its 1.8 million followers on Twitter.
After a worker at Customer.io, the platform's email delivery partner, leaked user data earlier in July, OpenSea had a data breach.
In a phishing attempt in February, the site lost hundreds of digital collectibles, resulting in losses of $1.7 million (roughly Rs. 12.5 crore).
Recently, hack assaults were launched against a number of well-known NFTs from series like Yuga Labs and Moonbirds.
"It is very important to us that users may utilise our platform safely. A healthy ecology does not allow for the selling of stolen goods or the operation of with stolen commodities, but neither does a lack of confidence from those of you who brought us here. Better performance starts with more listening and sharing. We're determined to do better at both. Thank you for your suggestions.
