NFT collector Robbie Acres has taken legal action OpenSea NFT Marketplace to keep accounts locked after fraud. The collector is unhappy with the NFT market for not responding to his complaints after losing his collection due to a phishing scam.
However, the collector’s lead counsel claimed that Acres’ case was not the only one. According to the lawyer, several other OpenSea users are facing the same problem, and the platform has not recognized some of the problems.
Robbie Acres said he immediately reported it to OpenSea after his NFTs were stolen through a phishing scam. But it took 48 hours for the market to respond, before the thieves sold their assets at a lower price.
Acres added that OpenSea’s counteraction against the hack locked the account for more than three months. Investors are looking for fairness in the market as they hold on to these assets despite repeated requests for access. He also claimed that OpenSea wanted him to validate his claim before unlocking his account.
Lawyer Advises OpenSea To Prioritize Customers Over Revenue
Acres wanted the market to compensate them for the losses they incurred. He claimed that OpenSea’s actions caused him significant losses as an active Web3 investor.
Meanwhile, his lawyer, Enrico Schaefer, said Acres was not the first to face such problems at OpenSea. He claimed that he represented several clients in cases of stolen NFTs or compromised accounts on the OpenSea market.
According to the lawyer, OpenSea acknowledged its shortcomings and compensated customers in some cases but ignored them in others.
In addition, Enrico Schaefer noted that OpenSea should prioritize the satisfaction of customers who trade NFTs on the platform instead of focusing on growth and revenue.
However, an OpenSea spokesperson said the theft occurred outside the OpenSea platform, and that the thief had already sold the item before receiving notification. Regardless of the situation, OpenSea takes action by disabling items and user accounts upon notification. However, he added that OpenSea had unlocked Acres’ account.
The NFT marketplace also said it is investing in tools and personnel to prevent such incidents, detect theft, and block the sale of stolen goods on its platform. In these words, theft is the most challenging problem in the crypto ecosystem because it occurs through several unique communication channels in different areas of the digital surface.
Phishing Site Theft Is Common In The NFT Market
On August 11, 2022, OpenSea launched a new stolen item policy to use and expand the use of police reports. Several users responded to this via Twitter, stating that OpenSea does not help when NFTs are stolen.
Phishing sites become a threat in the crypto atmosphere, including the NFT market. They make the private auction feature look like a login button, scaring victims into handing over their NFTs unwittingly.
A new hack attack threatens NFT holders on the OpenSea market. The hack gained access to user accounts through a feature on the OpenSea platform, directing them to phishing sites where they lost their belongings.
Hackers have been able to steal NFTs like magic with a little-known feature of OpenSea. This is the latest hack, and millions of monkeys have been lost.
(🧵1/4) pic.twitter.com/fTK20WQrgh
— Harpie (@harpieio) December 22, 2022
Harpie anti-theft project be careful NFT has in OpenSea beware of this new hack system. The announcement noted that many users lost millions of dollars in Apes due to the hack.
Featured Image from Pixabay, Tumisu | Chart by TradingView