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Subscribe - We publish new crypto explainer videos every week! To ensure that platforms users are safe, Magic Eden confirmed that their smart contract is still secure and emphasized that the problem was in the tools, not the contract. 1 You have successfully joined our subscriber list. Next, Magic Eden added an extra verification step to completely block similar types of attacks. What is Magic Eden. On Jan. 3, several users of Magic Eden observed that clicking on a collections page brought up a pornographic image rather than the typical NFT thumbnail. News and analysis for the professional investor. The NFT marketplace says it will compensate the victims of this scam, taking responsibility of this exploit where internal systems [] Disclosure: To ensure our site's review data always stays free & running up to date, sometimes we might receive a small commission if the reader purchases through our site links, at zero additional cost. The NFT transactions are very similar to Ethereum, except that users will have a 0% listing fee and only 2% transaction fees, which lowers the entry barriers for new and seasoned NFT buyers and creators. The recently implemented tools were also temporarily disabled so that users were prevented from seeing unverified NFTs in the collection pages for newer sessions. Here's a little snippet from their lore: {The AstroSphere Games.} An exploit was discovered today on Magic Eden, allowing unverified NFTs to be listed and sold as verified NFTs. Magic Eden's recent issues Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. Read on to learn about this quick fix! He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space. For example, Magic Eden works hand-in-hand with creators on its Launchpad to help them create, mint, market, and successfully launch projects. We use cookies to improve your experience. How does this work? Secondly, a list of all minted NFTs (a hash list) for the release needs to be sent over by the creator/minter . Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. Magic Eden, however, assures that the company is secure for traders. This game was followed by a racing game launching called Infinite Drive. Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. There is currently an exploit on Magic Eden allowing for unverified NFT's to be listed as part of the collection You can verify if an NFT is part of the collection on our explore page linked below If it's not in our explorer, it's not our NFT. 04 Jan 2023 17:22:27 Go to Magic Eden. Magic Eden is the leading community-centric NFT marketplace. The company claimed that unsavory photographs were made public after a third-party image hosting service it was using had been compromised. Most curated auction items do not belong to a collection yet, and as such would appear as Unverified. Additional terms may apply to free offers. Earlier today, unverified NFTs were being shown as part of verified collections on ME. Join 25,000+ NFT enthusiasts & stay on top . Magic Eden stated that the situation has impacted fewer than 10 collections on its platform. Reddit and its partners use cookies and similar technologies to provide you with a better experience. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections. It resolved the issue and will refund affected users. The marketplace confirmed that the issue was resolved. Your weekly wrap of Web3 news and trends. Magic Eden declares that the problem has been fixed and that affected individuals will get refunds. As it stands, no one can buy unverified NFTs on Magic Eden. Despite this hiccup, Magic Eden has been releasing new features and undergoing developments. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections.We've resolved the issue and will refund those affected. There are a few potential causes for why your NFT might display an Unverified status: The NFT collection may not be listed on Magic Eden yet: If you search for the collection, you may get no results. according to the official statement by Magic Eden. Get our free, 5 minutes daily newsletter. ON YOUTUBE. The security checks in place at large marketplaces like OpenSea and Magic Eden are one of their biggest appeals, as they ensure that only verified assets can be listed. an NFT royalty enforcement tool - Open Creator Protocol. The exploit resulted in the sale of 25 fraudulent NFTs across four collections in the last 24 hours, but it was unclear whether additional NFTs were affected. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. It assured investors by acknowledging that it had added verification layers in an attempt to resolve the issue. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. MoonPay, a web3 infrastructure company, has joined forces with Magic Eden, one of the biggest NFT marketplaces, to help make NFTs more accessible through old-school tricks, the companies announced . Do not buy these @y00tsNFT on @MagicEden, they are fake! If you were affected by ABC or other collections, please chat https://t.co/CyteCOTQ2V so we can help you. According to the official report, the impact of the exploit was 25 unverified NFTs sales across 4 collections. . Take a look! Alternatively, several people claimed to have seen a still from The Big Bang Theory. These items show up directly on the screen in real-time to provide a more seamless user experience. Vineet is a storyteller based in Mumbai. Magic Eden, however, assures that the company is secure for traders. The further added: "Update: Magic Eden is safe for trading. Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue.. This has allowed unscrupulous individuals to list fake NFTs for these top collections and pass them off as legitimate. But i think i found it. Non-fungible token ( NFT) marketplace Magic Eden is launching a series of free mints of Web3 games during March. This initiative rewards users with Magic Points based on the secondary trading transactions on the platform. On January 4, 2023 the firm said in a statement that the 'activity indexer' used for the marketplace and Pro Tools was compromised and allowed it to list fake NFTs alongside the . Our goal is to build the most heartwarming and welcoming community in the NFT space. Magic Eden recently updated some features on its platform. By clicking Accept, you consent to the use of ALL the cookies. However, the new development cannot be attributed to a third party. Magic Eden is the leading community-centric NFT marketplace. The platform's team disabled the Snappy Marketplace and Pro Trade features at 5a.m. PT in order to eliminate the entry points for unverified NFTs. Twelve lines are currently operational (counting Lines 3a and 3b as separate lines), with extensions and additional lines in the planning and construction stage. Further actions to reinforce the security measures were also taken by the team via adding extra verification steps to eliminate similar attacks. As always, make your own research prior to making any kind of investment. 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 . 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. Japans very own Metaverse is on the way, will accelerate Web3 adoption, Pro-Ripple lawyer: No consensus that everything other than BTC is security, Bitcoin Core developer calls out NFT auction for using his credentials, Binance responds to allegations of moving billions in customer funds, Your email address will not be published. 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. Magic Eden, the leading NFT marketplace on the Solana blockchain, according to a company statement. Magic Eden stated on Twitter that they have "added more verification layers per collection to resolve the issue," but the exploit still remained active. Magic Eden, the largest Solana-based NFT marketplace was repeatedly bombarded with user reports due to sales of unverified NFTs from verified collections on the platform, according to the official statement by Magic Eden. var plc588602 = window.plc588602 || 0; The latest moves in crypto markets, in context. Did you miss our previous article https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Gold IRA: Get This Guide to Learn All About It, https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Museum of Fine Arts, Boston, and laCollection Launch Second NFT Collection of Rarely Seen French Impressionist Pastels, Danny Cole Launches Creator World Fashion Label during NYFW, Celo blockchain uses Soulbound tokens to power a new identity system, WeGo Battle Pods Arrive Selling Out At Light Speed, You Can Now Buy NFTs That Help Rebuild Brazils Rainforest. The company says it is taking steps to ensure future incidents do not occur. Magic Edens smart contract remains secure, and this incident was an isolated UI issue.. Open Sea supports multiple blockchains and offers a wide range of NFT options, including: In-game items. In addition, for some collections on Magic Eden, users have access to Edens Pro Trade feature, where they can see recently listed and sold products in real-time, along with different information to assist them in making selections. The NFT had a limited supply, and its ownership became a badge of honor for the most dedicated players. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. However, the team is currently confirming whether additional. News, Events, Advertising and Much More. Magic Eden is one of the most user-friendly platforms on the market. Non-fungible token (NFT) marketplace Magic Eden was recently exploited by scammers who listed fake NFTs, duping unsuspecting buyers.While pledging to refund the buyers, the platform claimed it had resolved the hitch that a UI issue had reportedly caused. While there are still some features to be added, we see this platform as a great way to view. Tokoni Uti has written extensively on blockchain and cryptocurrency for years. The unverified NFTs randomly popped up on the collection pages on different projects. Collectibles. BitDegree.org - An Independent Initiative of The Best Crypto Exchange Reviews & Personal Advice | [emailprotected]. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections.We've resolved the issue and will refund those affected. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. How Ethereum's evolution impacts crypto markets. Can Bitcoin [BTC] defy the infamous March Chronicle in 2023? Home to the next generation of digital creators on Solana. The NFT platform confirmed that it temporarily resolved the problem, disabling both tools and eliminating the entry points that allowed unverified NFTs to pass through. Same from project medusa, it says 3000 nfts but there are 10k on magic eden, I dont get it 1 FlyHigh840 1 yr. ago Guys i have the same problem. 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. Solana. Brenda also covers other rapidly developing markets and economic and cryptocurrency studies. Magic Eden first drew the publics attention to the fraudulent NFTs in a tweet on 4 January. Learning about Magic Eden's smart contract . The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. Non-fungible token (NFT) marketplace Magic Eden on Wednesday said an unresolved issue has allowed fake NFTs to be listed and sold as part of real collections. Stay up to date with our weekly roundup of independent news, Join in live community chat & all updates as they happen. All rights reserved. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. (Animated Explainer). 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. Magic Eden said that a third-party service for caching images was compromised. What Issues Did The Magic Eden NFT Marketplace Face? The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. Cookies Policy / Privacy Policy / Terms of Use. Magic Eden Refunds Users Affected By Unverified NFT Bug. According to social media accounts, the recent exploit has particularly targeted popular Solana collections like ABC and Y00ts. SUBSCRIBE Nonfungible token (NFT) marketplace Magic Eden has pledged to refund all users who were duped into purchasing fake NFTs on its website as a result of an exploit. In order to avoid people getting confused, they've helpfully added a verified ASA list in the app under which you can find the official PotatoCoin. The pieces were thus included in the complete collection without further action. Type above and press Enter to search. All investment/financial opinions expressed by NFTevening.com are not recommendations. However, the team has since resolved the issue in a short turnaround time. Magic Eden (@MagicEden) January 4, 2023. No#1 NFT News Website Dedicated to Supporting the Expansion & Mainstream Adoption of NFTs, Decentralization and the Metaverse. Be0nb0g Friends (BBF) is a community driven project containing Be0nb0g like characters, randomly generated as NFTs, on the Solana Blockchain. Thank you to the community for alerting us there was an issue where people could buy fake ABC NFTs. The platform then directed users to hard reset their browsers. The team is refunding the affected users. The former shows newly listed and sold items on the screen in real time, while the latter allows them to see stats in real time. Your email address will not be published. The firm reports having s flaw in an update that broke the verification process for NFTs before they could be added to their application mentioned above. var rnd = window.rnd || Math.floor(Math.random()*10e6); Moreover, the team also adds that they will refund any affected users if the issue persists. ME reported that their Snappy Marketplace and pro-trade apps had issues with their user interfaces when the firm published a new feature. There was another issue where pornographic images and images from the TV show The Big Bang Theory appeared on the platform. These cookies will be stored in your browser only with your consent. Required fields are marked *. 25 fake NFTs were sold on the marketplace in 24 hours. Therefore, it is a significant issue that Magic Eden recently experienced a malfunction that allowed fake Solana NFTs to be listed on the platform. It resolved the issue and will refund affected users. Following the announcement, Twitter users continued to raise the alarm about the prevalence of fake y00ts NFTs on the platform. Magic Eden stated that they took immediate action by disabling the entry points that discard the new and unverified NFTs. Earlier today, unverified NFTs were being shown as part of verified collections on ME. Digital Currency Traders Alliance Lobbies Retail Investors to Oppose SEC Crackdown, Revolut Posts 33% Increase in Revenues, but Auditor Raises Questions, Cosmos (ATOM) Price Primed for a Big Move in March, Polkadot (DOT) and Kusama (KSM) Price Gear up for Next Rally, ZachXBT Alleges Bitbns Exchange of Disguising $7.5M Hack as System Maintenance, Ripple Exec Believes CBDCs are Strongest Cases for Utility, Top 10 Telegram Channels for Crypto Signals in 2023, Polygon CEO Proclaims Ethereum as Layer 1 Future, Dismisses Solana, Cardano, and Avalanche, Navigating Crypto Taxes Made Easy & Cheap: Meet Cryptiony, Ethereum Developers Plan New Holli Testnet as Goerli ETH Gets Marketplace. Earlier today, unverified NFTs were being shown as part of verified collections on ME. NFT marketplace Magic Eden has promised to refund all users who were duped into purchasing fake NFTs on its website as the result of an exploit. While the overallNFT market saw some high-profile sales digital artwork by Beeple sold for $69 million and a tweet by Twitter co-founderJack Dorseysold for $2.9 million it hadalso attracted fraudsters and hackers. Magic Eden Ventures Investing in Web3 Gaming Projects. It's the original peer-to-peer alternative to buy and sell non-fungible tokens online. NFT Plazas 2023. 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. document.write('
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