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NFT News: Millions Stolen in OpenSea NFT Phishing Attack

Jeff Pratt breaks down this weekend’s phishing attack on OpenSea, during which 250+ NFTs were stolen.

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Millions Stolen in OpenSea NFT Phishing Attack

On Saturday, NFT enthusiasts scrambled for answers as collectibles disappeared from their wallets on OpenSea. The world’s leading NFT marketplace had never seen a phishing attack of this size, with over 250 tokens stolen by a single account.

The majority of these thefts took place between 5 and 8pm ET, targeting 32 users and taking approximately $1.7 million worth of collectibles.

Among NFTs stolen were Bored Apes, Mutant Apes and other tokens from some of the largest collections in the metaverse.

The phishing attack was apparently successful due to an exploitable aspect in the Wyvern Protocol, a decentralized exchange system which underlies the majority of NFT smart contracts.

To put it simply, the scammer manipulated partially-fulfilled contracts that were signed by targets to redirect collectibles to their own possession.

As OpenSea conducts an investigation into the recent attacks, Co-founder Devin Finzer released the following statement:

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