All Collections . "The AstroSphere Explorers trailing 2 points to 3 in the the 79th minute. It resolved the issue and will refund affected users. In this video we mint Fast. As it stands, no one can buy unverified NFTs on Magic Eden. Next, Magic Eden added an extra verification step to completely block similar types of attacks. This website uses cookies to improve your experience while you navigate through the website. An exploit was discovered today on Magic Eden, allowing unverified NFTs to be listed and sold as verified NFTs. But opting out of some of these cookies may affect your browsing experience. It assured investors by acknowledging that it had added verification layers in an attempt to resolve the issue. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Magic Eden's recent issues Staking ban is yet another nail in Cryptos coffin and thats good. Magic Eden previously had other issues with their platform. Find additional information on how we use cookies in our, Erik Yates optimistic on bitcoin as the future of banking, Darknet markets blackmailed by hacker with DDoS attacks, Analyst shares strategies to revive crypto portfolio in 2023, Litecoin Ordinal inscriptions hit new high, price up 4%, Investigator claims Bitbns said $7.5m hack was system maintenance, Yuga Labs to launch NFT collection on Bitcoin blockchain, More than 13k wallets leave OpenSea for Blur in one week, Whale sells 1,010 NFTs in largest NFT dump ever. 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. Her work has appeared on sites like BTCmanager and Blockchain Reporter. 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. Although the system mainly runs in the . The team is refunding the affected users. Go to Magic Eden. Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. How Ethereum's evolution impacts crypto markets. A Polygon Launchpad gaming project called Shatterpoint also launched on the platform recently. 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. Edens activity indexer did not properly validate the originator address for these two tools. 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. We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date. We have gathered similar news articles for you to spare your time. If you have won an NFT from a curated auction, please reach out to us so we can help create the collection to 'house' the NFT that you've won. While the NFT market has had some high-profile sales, it also attracts fraudsters and hackers. The launch has been dubbed "Mint Madness," a nod to the NCAA college basketball . By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. What Issues Did The Magic Eden NFT Marketplace Face? Earlier today, unverified NFTs were being shown as part of verified collections on ME. However, the team has since resolved the issue in a short turnaround time. 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. You have successfully joined our subscriber list. All rights reserved. The marketplace confirmed that the issue was resolved. You are now the proud owner of a "DROPZONE" NFT. AAVEs daily active user count surprises investors, but can it empower price? It is mandatory to procure user consent prior to running these cookies on your website. Brenda Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. As per Magic Eden, a bug in its newly deployed activity indexer for its Snappy Marketplace and Pro Trade tools allowed fake NFTs to bypass verification and appear alongside genuine NFT collections. Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. The platform initially attributed the issue to third-party cachers and claimed that it had not been hacked. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. Next, Magic Eden added an extra verification step to completely block similar types of attacks. Snappy Marketplace, a feature of Magic Eden designed to improve the shopping experience, displays newly posted and sold products on the homepage in near real-time. The unverified NFTs randomly popped up on the collection pages on different projects. 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. A new feature deployment had caused a user interface issue that allowed 25 unverified NFTs to be sold across four collections, including dupes of blockbuster Solana collection y00ts, the company said in a blog post.. To fix the verification issue, its Snappy . Solana. Magic Eden NFT . All investment/financial opinions expressed by NFTevening.com are not recommendations. Our goal is to build the most heartwarming and welcoming community in the NFT space. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Therefore, it is a significant issue that Magic Eden recently experienced a malfunction that allowed fake Solana NFTs to be listed on the platform. These items show up directly on the screen in real-time to provide a more seamless user experience. 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 company says it is taking steps to ensure future incidents do not occur. According to the official report, the impact of the exploit was 25 unverified NFTs sales across 4 collections. Press question mark to learn the rest of the keyboard shortcuts. Brendas passion brings her back to her elementary school years as a poet. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Read fact-based BitDegree crypto reviews, tutorials & comparisons - make an informed decision by choosing only the most secure & trustful crypto companies. Magic Eden, however, assures that the company is secure for traders. 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. 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. Reports were emerging from the crypto community on Jan. 4 related to fake NFTs. Magic Eden states the issue, The technical explanation is that our activity indexer for these two tools did not check that the creator address is verified. Magic Eden first drew the public's attention to the fraudulent NFTs in a tweet on 4 January. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. 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. "Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue," it wrote. Cookies Policy / Privacy Policy / Terms of Use. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. Take a look! Let's kickstart your NFT journey and get you your first Solana NFT on Magic Eden!---Magic Ede. However, the new development cannot be attributed to a third party. The NFT marketplace says it will compensate the victims of this scam, taking responsibility of this exploit where internal systems [] Magic Eden said that in the last 24 hours, 25 unverified NFTs were sold across four collections . Magic Eden (@MagicEden) January 4, 2023, Join the Weekly Newsletter Join our Discord Follow us on Twitter Like us on Facebook Follow us on Instagram. Home to the next generation of digital creators on Solana. A day after Magic Eden suffered a technical glitch that resulted in 25 unverified NFTs being sold as part of verified collections, the company announced on Thursday it would be refunding all. It also advised users to perform a hard refresh to ensure that the unverified listings no longer appeared in their browser session and, as a precaution, to stop purchasing unverified NFTs. Earlier today, unverified NFTs were being shown as part of verified collections on ME. However, the team has since resolved the issue in a short turnaround time. var rnd = window.rnd || Math.floor(Math.random()*10e6); Magic Eden is the leading community-centric NFT marketplace. NFTNFT SudoswapMagic EdenNFTBlurNFT 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. Captain Tsubasa NFT Sale Starts Tomorrow! Decentralands Metaverse Fashion Week is Back for 2023! Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. ME reported that their Snappy Marketplace and pro-trade apps had issues with their user interfaces when the firm published a new feature. Non-fungible token ( NFT) marketplace Magic Eden said that it would refund all users affected by an exploit that involved the sale of fake NFTs that were passed off as being part of verified collections. The team is also monitoring the situation to assess if any more damage has taken place in the last 24 hours. Twitter Discord What is Magic Eden? The root cause appears to be a UI issue related to a new feature deployment released to the Snappy Marketplace and Pro Trade tools. For an NFT to show as "Verified" on the secondary market (Magic Eden in this case), the minting process for the original NFT release needs to have been completed (either the total supply sold or the brought to an early completion). The company is currently working to determine if any more NFTs beyond the most recent day were impacted. Because of that, dupes of NFTs from various collections were able to get listed in the marketplace. Necessary cookies are absolutely essential for the website to function properly. Blur overtakes OpenSea in six months, more gains ahead? Read on to learn about this quick fix! The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. Scammers managed to breach the platform after the update and listed these fake NFTs alongside genuine ones on the platform. :/. Holding 1 Be0nb0g Friends NFT grants you more than a JPEG, BBF will be able to be a part of an amazing . The impact was limited to 25 unconfirmed NFTs sold in 4 collections on Jan. 4. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. The platform then directed users to hard reset their browsers. Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. SUBSCRIBE Magic Eden Response to Unverified NFTs Reports Updates from 4 January 2023 issue . 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. 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 platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. By using our site you consent to the use of cookies. Create an account to follow your favorite communities and start taking part in conversations. Magic Eden stated that the fake NFTs were caused by a third-party image hosting provider and assured users that their NFTs were safe. 1 Magic Eden reassures that its smart contracts are still safe to use; the hiccup in the user interface was an isolated issue. Understanding why certain items are not tradeable on ME. Magic Eden Refunds Users Affected By Unverified NFT Bug. Basically, every single collection is fake on Magiceden, a massive exploit is happening ongoing.High-value NFTs are suffering the most, as attackers choose to exploit higher-value NFTs first. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Moreover, the team also adds that they will refund any affected users if the issue persists. Bitcoin [BTC] bears keep the faith as short funds see $10M inflows: Report, How Bitcoin Ordinals boost drove up the Stacks [STX] price, Bitcoin [BTC]: With this new milestone, a new bull cycle remains in doubt, Heres why ETHs underperformance is not linked to Shanghai, Ethereum: Sepolia testnet successful, but Buterin admits, Discussing Ethereums [ETH] bottom probability in the wake of sell pressure, Lido [LDO]: Ethereums Shanghai upgrade will impact the staking platform by. Magic Eden fixed a bug where unverified NFTs would appear in verified NFT collections. The UI issue pertains to Magic Edens recently launched Snappy Marketplace and Pro Trade tools. Vineet is a storyteller based in Mumbai. 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. All rights reserved. Analyzing. Twelve lines are currently operational (counting Lines 3a and 3b as separate lines), with extensions and additional lines in the planning and construction stage. All investment/financial opinions expressed by NFTevening.com are not tradeable on ME validate the originator address for two... A third party necessary cookies are absolutely essential for the website grants you more a. Are now the proud owner of a & quot ; the hiccup in the the 79th.... Six months, more gains ahead in the NFT space reviews, tutorials & comparisons make... And listed these fake NFTs alongside genuine ones on the platform then directed users to hard their... An amazing unconfirmed NFTs sold across 4 collections on Jan. 4 has since the! 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