Magic Eden to replace users who are being scammed into buying fake NFTs

Magic Eden revealed that it will reinstate all users who mistakenly purchased unverified NFTs that appeared on its fundraising pages as a result of a recent breach.

In a statement, Solana-based NFT Market said a bug has been distributed in an update to two of its features — Snappy Marketplace and Pro Trade tools. As a result, unverified NFTs were included in these two tools.

  • More technically, the recently published Activity Indexer fails to detect dual NFTs. Instead, the bug allowed these tokens to evade verification and be included along with the original pools.
  • The development comes days after some Magic Eden users reported seeing strange images on the platform instead of NFTs, including porn and still images from TV series “The Big Bang Theory.”
  • However, on January 4, the platform confirmed that its smart contracts remain secure, adding that the incident was an isolated user interface issue.
  • According to the update, the hack led to the sale of 25 fake NFTs across four pools in the last 24 hours. The market is now studying whether additional NFTs have been affected.

“We determined within the last 24 hours, that the impact was limited to 25 unverified NFTs that were sold across 4 groups. These unverified NFTs appeared on group pages and transactions for unverified NFTs appeared in tabs. Activity for groups. Issue resolved as of this morning.”

  • Fake NFTs have also been added to the expensive and prominent ABC pools and y00ts based on Solana.

Magic Eden’s post to replace users who were scammed into buying fake NFTs appeared first on CryptoPotato.

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