Using an exploit made it possible to buy NFTs at the old prices

OpenSea NFT marketplace discovered a bug

25.01.2022 - 09:40

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1 min

What’s new? The users of the popular OpenSea NFT marketplace have reported a problem that has already led to losses among holders of high value tokens. The discovered bug allowed others to buy these tokens at previously placed discounted prices.

“BREAKING: Everyone head to orders.rarible.com and make sure all of your old listings are cancelled. There is currently an exploit on OpenSea letting someone buy your NFTs for old listing prices.”

Who was able to exploit the bug? A user under the nickname jpegdegenlove is known to have been involved in the scam. He managed to withdraw about 347 ETH ($785 000) by buying tokens at old prices on the Rarible platform via the OpenSea API. Another user was able to buy NFT 9991 from the Bored Ape Yacht Club collection for just 0,77 ETH and sell it within an hour for 84 ETH.

More NFT scams will likely be reported in the coming days as not all marketplace customers learned of the bug in time.

Author:

Michael Golikov Michael Golikov

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