OpenSea Bug Destroys Over $100,000 Worth 42 NFTs.

OpenSea Bug Destroys Over $100,000 Worth 42 NFTs.

2021-09-09 | Mike Hallen

OpenSea Bug Destroys Over $100,000 Worth 42 NFTs.

A bug in the NFT OpenSea market accidentally destroyed at least 42 NFTs worth at least $100,000. The issue was first raised by Ethereum Name Service [ENS] lead developer Nick Johnson, who pointed out that when he passed an ENS name, which is in the form of NFT, it was sent to the address of the record. This means that it was accidentally sent to an address that no one controls and can no longer be moved again. ENS is a service that allows you to associate blockchain addresses with domain names. It is designed to make it easier to send transactions to human-readable names rather than complex blockchain addresses. Regarding the burnt ENS name, Johnson stated that it was the first ENS name ever recorded. The name was rilxxlir.eth and although Johnson registered it with personal funds, it was in the ENS account. To move the ENS name so that it is under his own account, he went to OpenSea to transfer it. This was when it was mistakenly sent to the recording address.
“After a frenzied call to OpenSea, it turned out that I was the first and most likely the only victim of an error on their broadcast page in the last 24 hours that affected all ERC721 translations to ENS names. The ownership of rilxxlir.eth is now permanently burned, ”he tweeted.
Since Johnson remains the controller of the ENS name, he can still change it - in terms of the blockchain addresses that the ENS name is associated with. He just can't move the title itself. Johnson then received additional messages from others who were similarly affected and compiled a list of 32 affected transactions from 42 NFTs. Most of the NFTs were ERC-721 compliant, but some used ERC-1155. He checked the minimum prices of each of the NFTs (the lowest price available in the market) and summed them up to reach $ 100,000. Johnson claimed that OpenSea has now fixed the bug. OpenSea did not respond to a request for comment from The Block.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List