Mintable, an NFT market,has retrieved three NFTs that were stolen in last week’s OpenSea hack and restored them to their actual owners.
According to the company, Azuki #4176, #1180, and #1178 were purchased for around 13.35 ETH apiece and restored to their former owners. That’s almost $36,000.
In the latest comment, Mintable officials explained how they discovered the NFTs. They were discovered on the LooksRare market specifically. According to the representatives, the $10 billion exchange is known for selling counterfeit NFTs.
OpenSea Hacked By Fraudsters
Last week, a coordinated phishing assault on OpenSea members led to the theft of $1.7 million worth of NFTs. One of the NFTs was the famous Bored Ape, which spurred its owner to file a $1 million lawsuit against the market. Devin Finzer, the creator of OpenSea, did not take the blame for the breach, claiming that a website problem did not cause it.
OpenSea Is Being Called Out
The current CEO of Mintable, Zach Burks, chastised OpenSea for failing to assist those affected by the breach. Even though OpenSea is worth billions, it has found it difficult to sacrifice $1.7 million for the members of its community who suffered from the last hack on the platform.
Burk said that hackers were able to acquire NFTs due to a glitch on OpenSea’s website. Burks emphasized the economic toll that hacking has taken on some users, labeling it “awful.”
“For these folks, their NFTs are their entire net worth… It’s terrible that they’ve been lost.” Burks noted, “We enjoy the Azuki family.” “We would like to help the victims who lost about $140,000 as a result of the scam.”
Past Security Hacks
Hackers stole over $750,000 worth of ETH from OpenSea in January thanks to a glitch that allowed users to advertise NFTs at substantially cheaper pricing. Another incident resulted in the loss of about $100,000 of digital assets.
As Web 3 applications are so recent, these flaws underscore the security dangers they present. The biggest NFT market, OpenSea, is home to over $31.4 billion in digital assets. Furthermore, following a recent fundraising session, the company behind the market has a capitalization of over $13.3 billion.
NFT hacks have become a common occurrence in the past months, with users losing millions primarily due to a bug on the platform that hackers capitalized on. Security measures have to be put in place to prevent more occurrences.