This game was followed by a racing game launching called Infinite Drive. Magic Eden NFT . To ensure that platforms users are safe, Magic Eden confirmed that their smart contract is still secure and emphasized that the problem was in the tools, not the contract. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. 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 . 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. The Majority of Voyager Customers Agree with Binance.US Restructuring Tel Aviv Stock Exchange Takes a Step Towards Offering Crypto Trading S French Lawmakers Pass Stricter Licensing Rules For Crypto-Related Firm Coinbase Launches National Advocacy Campaign For Crypto-Friendly Polic BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. 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. The unverified NFTs randomly popped up on the collection pages across different projects. Did you miss our previous article https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Gold IRA: Get This Guide to Learn All About It, https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Museum of Fine Arts, Boston, and laCollection Launch Second NFT Collection of Rarely Seen French Impressionist Pastels, Danny Cole Launches Creator World Fashion Label during NYFW, Celo blockchain uses Soulbound tokens to power a new identity system, WeGo Battle Pods Arrive Selling Out At Light Speed, You Can Now Buy NFTs That Help Rebuild Brazils Rainforest. 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. 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. The impact was limited to 25 unconfirmed NFTs sold in 4 collections on Jan. 4. It is believed that the NFT platform found a solution by temporarily disabling booth tools and removing "entry points" which permitted unverified NFTs to pass. What financial advisors need to know about crypto. But usage on the platform has so far lagged behind the hype, with Solana NFT sales on OpenSea being around 9% of Magic Eden's since launch, according to data from Magic Eden. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections. It has asked users to hard refresh their browsers. Further actions to reinforce the security measures were also taken by the team via adding extra verification steps to eliminate similar attacks. Magic Eden said that a third-party service for caching images was compromised. The Snappy Marketplace tool allows users to explore all newly listed and sold items. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. Pros & Cons Revealed. Moreover, the team also adds that they will refund any affected users if the issue persists. The launch has been dubbed "Mint Madness," a nod to the NCAA college basketball . The NFT platform confirmed that it temporarily resolved the problem, disabling both tools and eliminating the entry points that allowed unverified NFTs to pass through. Same from project medusa, it says 3000 nfts but there are 10k on magic eden, I dont get it 1 FlyHigh840 1 yr. ago Guys i have the same problem. Go to edit profile and you need to click accept and give a username it says it will be verified in 24 hours so now i am waiting i will.let u guys know something. In any of these cases, it is best to reach out to the creators of the NFT collection or project to verify which of these instances may apply to you. In its tweet on 5th January 2023, Magic Eden informed that "unverified NFTs" were listed over the platform and were shown as they were part of marketplaces' "verified collections." By that time, about 25 such unverified NFTs from four distinct NFT collections were said to have been affected in the last 24 hours. We also use third-party cookies that help us analyze and understand how you use this website. On 4 January 2023, the company addressed an issue and released . Non-fungible token (NFT) marketplace Magic Eden on Wednesday said an unresolved issue has allowed fake NFTs to be listed and sold as part of real collections. NFT Plazas 2023. Perks include discounts, NFT giveaways, and exclusive content. But i think i found it. As a result, users are at risk of purchasing counterfeit NFTs. 715SolanaNFTMagic EdenEden GamesLaunchpad35NFTEden GamesDeFi PiratesEverseedSkateX Magic EdenWeb3 according to the official statement by Magic Eden. "The AstroSphere Explorers trailing 2 points to 3 in the the 79th minute. It is mandatory to procure user consent prior to running these cookies on your website. Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. The root cause appears to be a UI issue related to a new feature deployment released to the Snappy Marketplace and Pro Trade tools. She enjoys discussing blockchain technology and is committed to producing original content. Non-fungible token (NFT) marketplace Magic Eden was recently exploited by scammers who listed fake NFTs, duping unsuspecting buyers.While pledging to refund the buyers, the platform claimed it had resolved the hitch that a UI issue had reportedly caused. Magic Eden stated that the fake NFTs were caused by a third-party image hosting provider and assured users that their NFTs were safe. Magic Eden is the leading community-centric NFT marketplace. Although the system mainly runs in the . Specifically, it added unverified NFTs into the collections at large. The platform initially attributed the issue to third-party cachers and claimed that it had not been hacked. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. Required fields are marked *. It has quick processing times, solid security, and a host of compelling features that make buying and selling easy. Your email address will not be published. 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. We've added more verification layers per collection to resolve the issue. When the official mint happens . Exploit in Magic Eden Leads to Unauthorized Sale of 25 NFTs. Magic Eden has also send refunds of the investments to those affected. Earlier today, unverified NFTs were being shown as part of verified collections on ME. For example, Magic Eden works hand-in-hand with creators on its Launchpad to help them create, mint, market, and successfully launch projects. NFT marketplace Magic Eden has fixed an issue where unverified NFTs would appear in verified collections. Get crypto analysis, news and updates right to your inbox! Due to the malfunction, unsuspecting buyers have been tricked into purchasing fake NFTs for large sums of money. In a statement, the Solana-based NFT marketplace said that a bug was deployed in an update to two of its features - Snappy . Let's kickstart your NFT journey and get you your first Solana NFT on Magic Eden!---Magic Ede. The Snappy Marketplace tool allows users to explore all newly listed and sold items. 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. The unverified NFTs randomly popped up on the collection pages on different projects. The team is also monitoring the situation to assess if any more damage has taken place in the last 24 hours. Now, no one can buy unverified NFTs on ME. On January 4, 2023 the firm said in a statement that the 'activity indexer' used for the marketplace and Pro Tools was compromised and allowed it to list fake NFTs alongside the . In this video we mint Fast. This free-to-play action multiplayer game is available on mobile devices. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. NFTevening is the biggest website for NFT news. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. Next, Magic Eden added an extra verification step to completely block similar types of attacks. However, there was a bug deployed in an update that affected the entire platform creating a massive exploit. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. Magic Eden - NFT Marketplace Volume 24h: 65,227 SOL Volume total: 54,822,797 SOL Blog TikTok Discord Youtube Instagram The Remnants The Remnants is a player driven economy based game built on Solana and set in the post-apocalypse Metaverse. We have gathered similar news articles for you to spare your time. 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. Sign up here so you don't miss a single newsletter. 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. Be a smarter, safer investor in eight weeks. Magic Eden declares that the problem has been fixed and that affected individuals will get refunds. Join 25,000+ NFT enthusiasts & stay on top . Earlier today, unverified NFTs were being shown as part of verified collections on ME. Magic Eden Ventures is the VC arm of cross-chain NFT marketplace Magic Eden and has recently invested in 11 blockchain gaming studios as part of its commitment to promote the growth of the . According to the statement issued by Magic Eden, over 25 fraudulent NFTs were sold across four collections in the last 24 hours. Now, no one can buy unverified NFTs on ME. All Collections . Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. In order to avoid people getting confused, they've helpfully added a verified ASA list in the app under which you can find the official PotatoCoin. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. You have successfully joined our subscriber list. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. The UI issue pertains to Magic Edens recently launched Snappy Marketplace and Pro Trade tools. 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. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. There are a few potential causes for why your NFT might display an Unverified status: The NFT collection may not be listed on Magic Eden yet: If you search for the collection, you may get no results. Read fact-based BitDegree crypto reviews, tutorials & comparisons - make an informed decision by choosing only the most secure & trustful crypto companies. The exploit was a result of a UI bug. P.S - There is a slight possibility the profile pic is AI-generated. The UI bug led to 25 unverified NFTs sold in four verified collections. How to Mint an NFT and sell on Magic Eden 61,530 views Nov 25, 2021 591 Dislike Share Ike Amadi 42.2K subscribers How to mint a Solana NFT and sell on Magic Eden. There was another issue where pornographic images and images from the TV show The Big Bang Theory appeared on the platform. Staking ban is yet another nail in Cryptos coffin and thats good. NonFungible.com | NFT market stats, sales tracker, rankings & news MoonPay, a web3 infrastructure company, has joined forces with Magic Eden, one of the biggest NFT marketplaces, to help make NFTs more accessible through old-school tricks, the companies announced . The latest exploit is the second incident that Magic Eden users have had to deal with this week. Magic Eden reassures that its smart contracts are still safe to use; the hiccup in the user interface was an isolated issue. It resolved the issue and will refund affected users. The UI issue pertains to Magic Edens recently launched Snappy Marketplace and Pro Trade tools. The UI bug was present in both of those deployed features. Magic Eden, however, assures that the company is secure for traders. ME has also refunded the investments to those affected. Magic Eden declares that the problem has been fixed and that affected individuals will get refunds. Create an account to follow your favorite communities and start taking part in conversations. 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. Vineet is a storyteller based in Mumbai. AstroSphereNFT is a new gaming DAO coming to Solana. Probing the intersection of crypto and government. 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. 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. Scammers managed to breach the platform after the update and listed these fake NFTs alongside genuine ones on the platform. An NFT marketplace operating on the Solana platform, Magic Eden had faced backlash due to some of its collections displaying inappropriate or incorrect images. 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. The scammers targeted popular NFT collections, mainly ABC and y00ts, listing fake NFTs and selling them for hundreds of dollars. Read the best crypto stories of the day in less than 5 minutes. Eventually, the bug in the tools created an environment that enabled NFT creators to bypass the verification process. "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. Magic Eden Response to Unverified NFTs Reports Updates from 4 January 2023 issue . The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. Magic Eden Ventures Investing in Web3 Gaming Projects. document.write('
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