OpenSea began to reimburse NFT owners for losses due to the vulnerability of the project - the platform paid out almost $ 2,000,000

The other day became known that due to a vulnerability in the OpenSea site, users could buy expensive NFTs at ultra-low prices. The service announced compensation for losses.

The problem was that users could transfer NFTs to other wallets in order to withdraw them from sale without commission. However, this made it possible to buy tokens at the old prices, which differed from the current ones. To solve the problem, the developers of the NFT marketplace launched the function of viewing and canceling listings, while simultaneously reducing the standard time for placing a non-fungible token to a month (it was half a year).

According to Bloomberg, the company compensated the affected owners of non-fungible tokens with 750 Ethereum, which is equivalent to almost $2,000,000 at the exchange rate at the time of payment. Specifically, collector Robert Garcia revealed that he was reimbursed 13.8 ETH after an NFT worth 18.5 ETH was sold for 4.7 ETH.

A source: Bloomberg