We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date. "Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue." Twitter is the whistle-blower of fake NFT deals. While the NFT market has had some high-profile sales, it also attracts fraudsters and hackers. These individuals noted that attackers were intentionally going after high-value NFTs. Pros & Cons Revealed. We use cookies to improve your experience. News and analysis for the professional investor. We also use third-party cookies that help us analyze and understand how you use this website. The NFT is part of a delisted collection: Finally, it is possible that the collection was delisted. The co-founder of Magic Eden, Jack Lu shared that the assets will be minted on 11th March, while Overtime CEO, Dan Porter cited the "the value of accessing a finals NBA" [as] near USD$1000", a . Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Magic Eden is a new NFT platform made for the Solana Network that facilitates the buying, selling, and minting of NFTs. Magic Eden stated that they took immediate action by disabling the entry points that discard the new and unverified NFTs. Discover the best and latest NFT collections today. One of the most promising NFT marketplaces built on Solana - Magic Eden experienced a major security breach that led to listing fake NFTs on the marketplace. Solana. Press J to jump to the feed. It assured investors by acknowledging that it had added verification layers in an attempt to resolve the issue. Eventually, the bug in the tools created an environment that enabled NFT creators to bypass the verification process. 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 transformation of value in the digital age. The marketplace confirmed that the issue was resolved. An exploit was discovered today on Magic Eden, allowing unverified NFTs to be listed and sold as verified NFTs. Solana NFT marketplace Magic Eden offered refunds to users affected by the posting of unverified NFT collections on its marketplace. If you were affected by ABC or other collections, please chat https://t.co/CyteCOTQ2V so we can help you. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. The team also adds that they are continuously monitoring the situation to ensure this issue does not occur again. document.write('
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