An NFT collector who lost a valuable NFT due to an exploit on the OpenSea trading platform accused the platform of deliberately violating user security.
Texas iron ore CEO Timothy McKimmy sold a non-fungible token from the Bored Ape series for 0.01 ETH (about $26) and filed a lawsuit in Texas federal court against the OpenSea trading platform. In the lawsuit, McKimmy alleges that the OpenSea platform was aware of an exploit that allowed hackers to buy NFTs at a price well below the market price, but refused to stop trading for a profit.
The author of the lawsuit claims to be the legal owner of the Bored Ape #3475 collectible token, one of 10,000 NFTs featuring “bored monkeys”. In his opinion, the NFT was deliberately stolen, as the hacker immediately resold it for 99 ETH (about $250,000). According to McKimmy, the stolen token is the 14th most valuable NFT and is significantly rarer than another Bored Ape token that Justin Bieber recently bought for $1.3 million.
McKimmy is urging a Texas federal court to order the OpenSea platform to return Bored Ape #3475 or pay more than $1 million in damages.
At the end of January, Twitter user VirtualToast.eth reported that his NFT Bored Ape #8924 was purchased for 6.66 ETH on OpenSea, about 92% below the current minimum price. He assured that he planned to sell Bored Ape #8924 at this price, but then decided to cancel the auction and sent the NFT to another wallet. However, despite the exclusion of NFT from the list of marketplace sales, in fact, the application was reflected as active according to the OS API. This allowed an attacker with the nickname jpegdegenlove to redeem Bored Ape #8924 at the old price. Thanks to this, the attacker was able to get 347 ETH, that is, $750,000.
Last year, the owner of one of the Bored Ape Yacht Club popular NFT collection tokens sold it by mistake for 0.75 ETH instead of 75 ETH. In January, the hosts of the Bankless podcast criticized OpenSea’s security policy regarding the blocking of stolen NFTs.
Source: Bits
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