Magic Eden previously had other issues with their platform. Magic Eden Refunds Users Affected By Unverified NFT Bug. It has pledged to refund. Weve resolved the issue and will refund those affected. A total of 25 fraudulent non-fungible tokens (NFTs) were purchased by unsuspecting buyers. Magic Eden stated on Twitter that they have "added more verification layers per collection to resolve the issue," but the exploit still remained active. Thank you to the community for alerting us there was an issue where people could buy fake ABC NFTs. But this resolution only worked for a few users and on select browsers. These cookies do not store any personal information. Magic Eden, a Solana-based nonfungible token (NFT) marketplace, has issued a fix for an exploit that allowed fake NFTs to be listed as part of genuine collections. The co-founder of Magic Eden, Jack Lu shared that the assets will be minted on 11th March, while Overtime CEO, Dan Porter cited the "the value of accessing a finals NBA" [as] near USD$1000", a . Required fields are marked *. It assured investors by acknowledging that it had added verification layers in an attempt to resolve the issue. Further actions to reinforce the security measures were also taken by the team via adding extra verification steps to eliminate similar attacks. The transformation of value in the digital age. No#1 NFT News Website Dedicated to Supporting the Expansion & Mainstream Adoption of NFTs, Decentralization and the Metaverse. Secondly, a list of all minted NFTs (a hash list) for the release needs to be sent over by the creator/minter . The launch has been dubbed "Mint Madness," a nod to the NCAA college basketball . The exploit was a result of a UI bug. Creators and collectors of Solana-based NFTs are up in arms today as a major exploit at leading marketplace Magic Eden appears to be allowing scammers to pass off and sell fake NFTs as being part of prominent, verified collections.. This is now the drop zone. Our goal is to build the most heartwarming and welcoming community in the NFT space. There was also the case of users seeing pornographic images and shots from the TV show the Big Bang Theory on the platform. Next, Magic Eden added an extra verification step to completely block similar types of attacks. Type above and press Enter to search. To resolve the issue, the team first disabled entry points to eliminate new unverified NFTs. The team also adds that they are continuously monitoring the situation to ensure this issue does not occur again. Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. var abkw = window.abkw || ''; Our official collection of ships, camos, utilities and weapons will be released on Magic Eden next month, but had to be pushed back for scheduling reasons. The UI bug was present in both of those deployed features. PlayStation had created an NFT collection that featured iconic characters from their games, such as Kratos from God of War and Nathan Drake from Uncharted. She has a degree in Corporate Communications. As it stands, no one can buy unverified NFTs on Magic Eden. Solana NFT marketplace Magic Eden offered refunds to users affected by the posting of unverified NFT collections on its marketplace. Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue.. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. Magic Eden, however, assures that the company is secure for traders. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. One of the most promising NFT marketplaces built on Solana - Magic Eden experienced a major security breach that led to listing fake NFTs on the marketplace. y00ts creator DeGods also tweeted to his followers about an exploit on Magic Eden that allowed unverified NFTs to be listed as part of the collection. Home News Magic Eden Refunds Users Affected By Unverified NFT Bug. Specifically, it added unverified NFTs into the collections at large. There was another issue where pornographic images and images from the TV show The Big Bang Theory appeared on the platform. BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back. . The impact was limited to 25 unconfirmed NFTs sold in 4 collections on Jan. 4. Captain Tsubasa NFT Sale Starts Tomorrow! He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Magic Eden's unplanned entrance to the Web3 space compelled the firm to invest a measurable amount in online gaming.A statement from the Magic Eden team dated February 23 revealed that the firm conducted business with MatchDay, and Blockstar Planet, among others. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Magic Eden (@MagicEden) January 4, 2023. Staking ban is yet another nail in Cryptos coffin and thats good. Read fact-based BitDegree crypto reviews, tutorials & comparisons - make an informed decision by choosing only the most secure & trustful crypto companies. pic.twitter.com/35RYHOKVxd. 223Magic Eden11Web3Web3. A Polygon Launchpad gaming project called Shatterpoint also launched on the platform recently. The exploit was a Magic Eden recently updated some features on its platform. Building the biggest and most liquid NFT marketplace globally and home to the next generation of digital creators. 25 fake NFTs were sold on the marketplace in 24 hours. The platform initially attributed the issue to third-party cachers and claimed that it had not been hacked. (Animated Explainer). New Paris, le-de-France, France jobs added daily. Her work has appeared on sites like BTCmanager and Blockchain Reporter. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. A day after Magic Eden suffered a technical glitch that resulted in 25 unverified NFTs being sold as part of verified collections, the company announced on Thursday it would be refunding all. Basically, every single collection is fake on Magiceden, a massive exploit is happening ongoing.High-value NFTs are suffering the most, as attackers choose to exploit higher-value NFTs first. New YouTube CEO Harbors a Fondness for Web3 and NFTs, Coinbase Celebrates Base Launch with Free NFT Drop, The Titanic Artifacts Resurface on the Blockchain Through NFTs, LinksDAO NFT Funding Secures Historic Scottish Golf Course, Uniswap Allows NFT Trading in Any Ethereum-Based Token, Flare Raises the Bar with Cross Blockchain NFT Trading. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Go to edit profile and you need to click accept and give a username it says it will be verified in 24 hours so now i am waiting i will.let u guys know something. Magic Eden Ventures Investing in Web3 Gaming Projects. In this video we mint Fast. Magic Eden acknowledged the. Go to Magic Eden. NFT Plazas 2023. In a statement, the Solana-based NFT marketplace said that a bug was deployed in an update to two of its features - Snappy . The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. NFT marketplace Magic Eden has fixed an issue where unverified NFTs would appear in verified collections. Snappy Marketplace, a feature of Magic Eden designed to improve the shopping experience, displays newly posted and sold products on the homepage in near real-time. Home to the next generation of digital creators on Solana. It also advised users to perform a hard refresh to ensure that the unverified listings no longer appeared in their browser session and, as a precaution, to stop purchasing unverified NFTs. What is Magic Eden. However, the team has since resolved the issue in a short turnaround time. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. Benzinga does not provide investment advice. All investment/financial opinions expressed by NFTevening.com are not recommendations. Brenda also covers other rapidly developing markets and economic and cryptocurrency studies. The unverified NFTs randomly popped up on the collection pages across different projects. The creator(s) may still need to submit a listing request form, or the request form may still be being processed by our listing team. We also use third-party cookies that help us analyze and understand how you use this website. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. Magic Eden Ventures is the VC arm of cross-chain NFT marketplace Magic Eden and has recently invested in 11 blockchain gaming studios as part of its commitment to promote the growth of the . You have successfully joined our subscriber list. Do Not Sell My Personal Data/Privacy Policy. *All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Mintable and Moonpay Partner To Accelerate NFTs on Immutable X, Leah Lamarr Live Mints Comedy NFTs at ETH Denver, Metamask Web3 Wallet Steps In the Gaming Industry With Unity, NFT Paris 2023: France at the Forefront of the Web3 Revolution, xPortal by MultiversX Aims To Become Your Metaverse Passport, Adam Weitsman: The New Owner of Dookey Dash Golden Key, Animoca Brands New NFT Licenses Defend Creator Royalties, Prada Timecapsule NFT Unveils Exclusive Ragazzini Print Trilogy, TwelveFold by Yuga Labs Unveils Unique Bitcoin Collection. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. Earlier today, unverified NFTs were being shown as part of verified collections on ME. News and analysis for the professional investor. The tweet further cited community reports that people had purchased fake ABC NFTs. You are now the proud owner of a "DROPZONE" NFT. Read on to learn about this quick fix! What is Polygon in Crypto? On 4 January 2023, the company addressed an issue and released an update. The latest exploit is the second incident that Magic Eden users have had to deal with this week. Magic Eden said that in the last 24 hours, 25 unverified NFTs were sold across four collections . Magic Eden's recent issues Magic Eden NFT . Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month, The Story Behind BONK Token's Meteoric Price Rise And Why Its Liquidity Fee Rate Is Unsustainable. Brendas passion brings her back to her elementary school years as a poet. Now, no one can buy unverified NFTs on ME. 715SolanaNFTMagic EdenEden GamesLaunchpad35NFTEden GamesDeFi PiratesEverseedSkateX Magic EdenWeb3 The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. Just hours after blaming a third party for displaying pornographic photos on their website, Solanas NFT platform Magic Eden addresses the issue of selling unverified NFTs. It has asked users to hard refresh their browsers. Home to the next generation of creators. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. Disabled entry points to eliminate similar attacks digital creators adds that they are continuously monitoring the situation to this. What Snappy marketplace tools do, but with even more stats to aid collectors in their decision-making Refunds! Exploit was a Magic Eden added an extra verification steps to eliminate unverified... 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