On 19 Feb 2022, OpenSea, the biggest NFT marketplace, suffered a phishing attack where hundreds of NFTs were lost. The estimated damage is around 1.7 million. This questions the investors if their NFTs are safe on the blockchain?
Around 32 OpenSea users could not access their most valuable NFT tokens. These tokens included NFTs from Bored Ape Yacht Club and Azuki collections. The most rated NFTs are worth millions.
On Sunday morning, the CEO and Co-founder of OpenSea tweeted, “We have confidence that this was a phishing attack.” The experts are working out to know the cause of the phishing attacks. OpenSea is a trustworthy platform, and they are continuously upgrading their services. The experts have shared a few things they suspect that phishing was successful.
This post will discover what experts revealed about the attack and how you can stay safe from such accounts. We will also discuss what will happen to the users whose NFTs were stolen. Let’s start.
What Are The Causes Of The Phishing Attack?
Although the exact cause of the attack is yet to be known, still here are some points that experts pointed out after the attack.
- OpenSea’s website was not a vector for the attack.
- The attacker did not exploit the previously unknown vulnerabilities.
- This attack was not performed while minting, selling, or listing features.
- The OpenSea email interaction did not perform this attack.
- The experts claimed this attack might have happened if any users had received suspicious mail and clicked on that mail.
- The Wyvern Protocol might cause this attack.
One more cause of concern is introducing the new Smart contract that OpenSea introduced on Friday. OpenSea asked users to migrate their assets; the hackers might have taken advantage of this new contract to perform the Phishing attack.
OpenSea has tweeted and warned all its users not to click on links sent to them via emails or other messages. These phishing links can put you in trouble as well.
Also Read, FBI To Launch Crypto Crimefighting Unit
How To Save Yourself From Phishing Attacks?
First, you need to understand which platforms are hit by hackers. They mostly target platforms where people invest and are unaware of what they are doing. NFT marketplace is a million-dollar sector where they can easily exploit people who earn huge amounts. If you invest in NFTs, you should remain alert and always keep the following points in mind to remain safe and sound.
1. Security Software:
The machine you are using for logging in or doing transactions is very important. You need to update apps continuously to reduce new security threats. Use a good antivirus. The same thing is true for your smartphones. If you use a smartphone to make transactions, this is also for that.
2. Protect Your Account:
Protecting your password, your phrase is also important. Never share your password. Keep changing your password frequently. Do not log in using links or third-party apps. Use multi-factor authentication.
Multi-Factor authentication makes it hard for scammers to access accounts. If the website finds some login suspicious, it locks the account.
Also Read, Are NFTs Scam? Tips To Keep In Mind Before Buying
3. Protect your data
Always keep a backup of your data. That backup should not be on an online network. Keep it secure offline. You can use hardware wallets for this purpose.
Wrapping Up
In the online world, you have to remain extra cautious. Hackers are always working on new ways to steal your assets. They create the exact page like the official one and prompt you to log in. Once you have logged in page crashes, and your information and password are leaked. You have to remain alert. Always log in from official websites only.
Keep reading and visiting our website to remain updated.
Frequently Asked Questions
Q1. Can People Steal NFT From OpenSea?
Hackers can exploit any website. They create a malicious NFT and send it as a gift to the target victim. Once the target clicks on it, the hacker steals the wallet.
Q2. Can NFTs Be Hacked?
Yes, when the entire wallet is stolen, the NFTs are stolen too. The hacker uses those NFTs and earns from them.
