Opensea marketplace

OpenSea introduces new security features in its NFT marketplace

Lately, the NFT market has been affected by the crashes we have suffered this month, the ones that are most affected in this case, are Ethereum and Solana, which are the main blockchains in which we can find NFT. For the same reason, scammers are the order of the day and to combat it OpenSea has updated its security measures.

With NFT scams becoming more common, OpenSea has created a new feature that will automatically hide suspicious NFT transfers in its Marketplace to address key trust and security issues in OpenSea.

How will this improve security?

It has been detected that the modus operandi of fraudsters is to send NFT transactions via OpenSea which contain links to malicious third-party sites. So by hiding them, it is less likely that more people will continue to fall into this trap.

On last week Thursday, OpenSea’s CEO tweeted that it is possible to receive NFT transfers from people you don’t know, as well as receive spam so people will start to watch out:

In 2021, with the rise of NFTs, the activity of OpenSea, the most famous marketplace at the time, increased significantly. However many investors are always dissatisfied with the platform’s efforts to compensate victims and combat theft.

OpenSea has recently focused on improving trust and security on the platform. With the growing drop in trust for “trusted” cryptocurrency projects such as Luna and the Celsius platform, today it is up to the NFT market to make substantial investments in a variety of important areas such as trust and security, including theft prevention, intellectual property infringement, scale review and moderation, and time reduction in critical responses.

We hope these measures will build confidence in future NFT projects, at The Blue Manakin we are always committed to the security of the NFT space, so we only accept projects with real foundations and that we truly believe in.

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