Cryptocurrencies
How Opportunists Snagged More than $1 Million in NFTs For Mere Thousands
Buyers used a loophole on the OpenSea platform to purchase the digital assets at hidden, below-market prices.
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A standard rule of shopping is that when prices go up, you have to pay the newer, higher rate — not the older, lower one. But what if the older price is still available, and you know where to look?
Savvy opportunists managed to buy more than $1 million in non-fungible tokens (NFTs) from OpenSea, the largest market for such digital assets, at older and significantly lower prices by exploiting a bug in how the platform managed active listings. Attackers exploited users who had transferred their previously listed NFTs to other wallets without having canceled the listings.