Mintable Recovers 3 NFTs Stolen in OpenSea Exploit, Wants to Return Them to Owners

Mintable has recovered three Azuki NFTs stolen in OpenSea’s recent exploit and is sending them back to their owners.

Quick take: 

  • The NFTs were found on LooksRare while Mintable was acquiring NFTs for its recent flash sale.
  • The three Azuki NFTs were purchased by Mintable for about Ξ13.35 each.
  • Mintable is working with Azuki to identify the original owners of the Azuki NFTs.

NFT marketplace, Mintable, has recovered three Azuki NFTs stolen in OpenSea’s recent exploit, which happened last weekend. Mintable found the NFTs on LooksRare while it was acquiring NFTs for its most recent flash sale on 20 Feb.

The flash sale was part of Mintable’s ongoing floorbuster campaign to sell trending collections below floor prices. The marketplace came across listings for three stolen Azuki NFTs, namely Azuki #1178, #4176 and #1180 and bought them for about Ξ13.35 each.

OpenSea recently suffered yet another exploit as users had about $1.75 million worth of NFTs stolen by a phishing scam on 19 Feb. 

“This exploit was possible because of a bug on OpenSea, and If OpenSea isn’t going to make it right, someone has to,” said Mintable founder and CEO, Zach Burks. “For some of these people, all their net worth is tied up in their NFTs and it’s horrible to have them stolen. We like the Azuki community and we want to help give back to the people who lost over $140,000 through the exploit.”

OpenSea CEO David Finzer has denied that the phishing scam originated on OpenSea, stating that “signed a malicious payload from an attacker, and some of their NFTs were stolen.”

OpenSea’s recent hack and its previous listing bug put a spotlight on security risks in Web 3. While OpenSea has reimbursed some users and the three stolen NFTs were recovered and will be returned to their original owners by Mintable, over a million dollars worth of NFTs remain lost. 

Mintable will be reaching out to Azuki to identify the original owners of the stolen NFTs, followed by opening up a channel of communication to ensure the NFTs remain secure and are returned to their rightful owners.

With OpenSea under scrutiny for its recent security risks and LooksRare daily transaction volume slowing down after the expiry of its Phase A rewards, Mintable’s gesture is an attempt at showing NFT collectors that it Mintable is a relatively secure NFT marketplace where users can safely make transactions.

Despite OpenSea experiencing one exploit after another, it hasn’t lost its user base. According to data by “@hildobby” on Dune Analytics, the leading NFT marketplace saw 67,444 daily users on 19 Feb, the day of the phishing scam, and 70,065 daily users yesterday. The platform currently has 686,924 total users. 

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