Is OpenSea Safe? Why You Should (And Shouldn't) Use The NFT Website
With the rise of NFTs, the question of how safe marketplaces are will inevitable come up, and especially for OpenSea, the largest and most popular NFT site. As a peer-to-peer platform, OpenSea itself is not directly involved in the creation, sale, or auctioning of NFTs. Instead, it is merely a platform where different users can exchange NFTs.
Driven by the metaverse, new web trends, and big brands, the exchange of NFTs has grown significantly, resulting in a multi-million dollar business. NFTs are units of data that are encrypted on the blockchain, and this provides them with value and authenticity. While NFTs can be for almost anything including audio, photos, videos, or even entire digital worlds, artworks have become one of the leading NFT items.
Related: Looks Like A Movie But It’s A Real $3.6 Billion Stolen Crytpo Bust
OpenSea communicated that a recent phishing attack affected a number of NFTs, with valuable projects like Decentraland and Bored Ape Yacht Club understood to have been impacted. While the exact total loss remains unclear, it is not the first attack OpenSea has experienced. The company does state it provides a secure platform, but some have warned that flaws in the code make it vulnerable to scams, frauds, and attacks.
"Sadly, there are bad actors looking to take advantage of those new to the world of NFTs," the company recently said in another Tweet. In addition, OpenSea does actually offer a lot of security advice, tips, and support. Hacking and phishing attacks typically require users to take some sort of action, whether it is clicking on a link or handing over some personal information. As OpenSea is a platform where users interact with each other, interaction in general can't really be avoided.
Read more on screenrant.com
