Optimism [OP]: Social hype reaches new heights: Is a cool-off looming? In other news, Magic Eden has also introduced an NFT royalty enforcement tool - Open Creator Protocol. You also have the option to opt-out of these cookies. Twelve lines are currently operational (counting Lines 3a and 3b as separate lines), with extensions and additional lines in the planning and construction stage. The scammers targeted popular NFT collections, mainly ABC and y00ts, listing fake NFTs and selling them for hundreds of dollars. Her work has appeared on sites like BTCmanager and Blockchain Reporter. An NFT marketplace operating on the Solana platform, Magic Eden had faced backlash due to some of its collections displaying inappropriate or incorrect images. Today's 57,000+ jobs in Paris, le-de-France, France. Learning about Magic Eden's smart contract . 715SolanaNFTMagic EdenEden GamesLaunchpad35NFTEden GamesDeFi PiratesEverseedSkateX Magic EdenWeb3 What Happened: The NFT marketplacesaid the issue arose due to a bug in the platform's Snappy Marketplace and Pro Trade tools, which automatically included unverified NFTs in collections without verifying their authenticity. Win a Limited Edition Ledger With World of Womens New Quest! Magic Eden acknowledged the. Magic Eden, a Solana-based nonfungible token (NFT) marketplace, has issued a fix for an exploit that allowed fake NFTs to be listed as part of genuine collections. 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. Due to the malfunction, unsuspecting buyers have been tricked into purchasing fake NFTs for large sums of money. Magic Eden stated that the situation has impacted fewer than 10 collections on its platform. Understanding why certain items are not tradeable on ME. All rights reserved. The project released a loyalty rewards program called Magic Eden Rewards. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. Holders gain access to exclusive giveaways, gaming tournaments, community game nights and connections to other projects! Do Not Sell My Personal Data/Privacy Policy. The Snappy Marketplace tool allows users to explore all newly listed and sold items. 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. 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. We also use third-party cookies that help us analyze and understand how you use this website. 0% listing fee, only 2% transaction fee. var abkw = window.abkw || ''; By clicking Accept, you consent to the use of ALL the cookies. Because of that, dupes of NFTs from various collections were able to get listed in the marketplace. If this was the case, most often the reason is that the collection orproject was deemed as being either offensive, a scam, or a potential IP infringement. This game was followed by a racing game launching called Infinite Drive. The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. Do not buy these @y00tsNFT on @MagicEden, they are fake! Most curated auction items do not belong to a collection yet, and as such would appear as Unverified. 25 fake NFTs were sold on the marketplace in 24 hours. Secondly, a list of all minted NFTs (a hash list) for the release needs to be sent over by the creator/minter . 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. In a Jan. 4 statement, the company said a bug in its newly deployed "activity indexer" for its Snappy Marketplace and Pro Trade tools essentially allowed fake [] BitDegree.org - An Independent Initiative of The Best Crypto Exchange Reviews & Personal Advice | [emailprotected]. 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. 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 . The biggest crypto news and ideas of the day. Brendas passion brings her back to her elementary school years as a poet. Staking ban is yet another nail in Cryptos coffin and thats good. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. All investment/financial opinions expressed by NFTevening.com are not recommendations. Discussion around the exploit flared up early this morning on Twitter, where users alleged that Magic Eden was listing fraudulent NFTs from popular collections . Magic Eden is one of the most user-friendly platforms on the market. Analyzing. The company is currently working to determine if any more NFTs beyond the most recent day were impacted. Decentralands Metaverse Fashion Week is Back for 2023! Home to the next generation of creators. Magic Edens smart contract remains secure, and this incident was an isolated UI issue.. Magic Eden is the leading community-centric NFT marketplace. ON YOUTUBE. For the official PotatoCoin, this is 143787817. "The AstroSphere Explorers trailing 2 points to 3 in the the 79th minute. As a result, users are at risk of purchasing counterfeit NFTs. In this video we mint Fast. Scammers managed to breach the platform after the update and listed these fake NFTs alongside genuine ones on the platform. 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. It has quick processing times, solid security, and a host of compelling features that make buying and selling easy. "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. NFT marketplace Magic Eden has fixed an issue where unverified NFTs would appear in verified collections. Magic Eden (@MagicEden) January 4, 2023. Magic Eden said that a third-party service for caching images was compromised. Blur overtakes OpenSea in six months, more gains ahead? 223Magic Eden11Web3Web3. The UI bug was present in both of those deployed features. What financial advisors need to know about crypto. Brenda also covers other rapidly developing markets and economic and cryptocurrency studies. Magic Eden reassures that its smart contracts are still safe to use; the hiccup in the user interface was an isolated issue. But opting out of some of these cookies may affect your browsing experience. Also Read:The Story Behind BONK Token's Meteoric Price Rise And Why Its Liquidity Fee Rate Is Unsustainable. 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. It also asked users to perform a "hard refresh" to get confirmation that unverified listings are not appearing on their browser extension. Exploit in Magic Eden Leads to Unauthorized Sale of 25 NFTs. However, the team has since resolved the issue in a short turnaround time. Take a look! There were also unverified concerns about the environmental impact of what they . The NFT had a limited supply, and its ownership became a badge of honor for the most dedicated players. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. 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. 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. Both features aimed to improve the user experience. NFTevening is the biggest website for NFT news. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. 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. Be0nb0g Friends (BBF) is a community driven project containing Be0nb0g like characters, randomly generated as NFTs, on the Solana Blockchain. Magic Eden stated on Twitter that they have "added more verification layers per collection to resolve the issue," but the exploit still remained active. Bitcoin Ordinals and how it relates to recent miner interest: Decoding. This free-to-play action multiplayer game is available on mobile devices. Read the best crypto stories of the day in less than 5 minutes. The NFT marketplace says it will compensate the victims of this scam, taking responsibility of this exploit where internal systems [] But you, lucky person, have staked your PLD and now hold this IOU as evidence. 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. Type above and press Enter to search. The company claimed that unsavory photographs were made public after a third-party image hosting service it was using had been compromised. The Snappy Marketplace tool allows users to explore all newly listed and sold items. We are confirming impact beyond the last 24h". Magic Eden fixed a bug where unverified NFTs would appear in verified NFT collections. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Moreover, the team also adds that they will refund any affected users if the issue persists. It resolved the issue and will refund affected users. However, the team has since resolved the issue in a short turnaround time. There was also the case of users seeing pornographic images and shots from the TV show the Big Bang Theory on the platform. 1 Alternatively, several people claimed to have seen a still from The Big Bang Theory. var rnd = window.rnd || Math.floor(Math.random()*10e6); Magic Eden recently updated some features on its platform. Official Plutonians IOU NFT. Magic Eden is a new NFT platform made for the Solana Network that facilitates the buying, selling, and minting of NFTs. The transformation of value in the digital age. NonFungible.com | NFT market stats, sales tracker, rankings & news Read fact-based BitDegree crypto reviews, tutorials & comparisons - make an informed decision by choosing only the most secure & trustful crypto companies. The team also adds that they are continuously monitoring the situation to ensure this issue does not occur again. Press Esc to cancel. The tweet further cited community reports that people had purchased fake ABC NFTs. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. Magic Eden The NFT Marketplace Solana deserves, smooth as silk & fast as Solana. Meta Bets Go Bust As Digital NFT Land Prices Plummet: Are Investors Wasting Money? 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 . Despite this hiccup, Magic Eden has been releasing new features and undergoing developments. This category only includes cookies that ensures basic functionalities and security features of the website. A total of 25 fake NFTs were sold in 24 hours. 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. 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. Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. Due to a technical issue, Magic Eden users bought unverified NFTs. CoinDesk journalists are not allowed to purchase stock outright in DCG. The Magic Eden exploit is the latest setback for the NFT market, which saw global monthly sales plummet 86 percent in December compared to their all-time high of more than $4.9 billion in January of last year, according to blockchain data tracker CryptoSlam. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. Thank you to the community for bringing this issue to our attention & for your patience. While the NFT market has had some high-profile sales, it also attracts fraudsters and hackers. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. The team also emphasized that there was no hack and Magic Eden is safe for trading. Pros & Cons Revealed. Magic Eden aims to be your destination for discovery, expression, and ownership across digital cultures. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs . Magic Eden revealed that it will refund all the users who mistakenly bought unverified NFTs that showed up on the collection pages as a result of a recent breach. These cookies will be stored in your browser only with your consent. Cookies Policy / Privacy Policy / Terms of Use. Magic Eden Ventures Investing in Web3 Gaming Projects. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. 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. 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. Our official collection of ships, camos, utilities and weapons will be released on Magic Eden next month, but had to be pushed back for scheduling reasons. It has asked users to hard refresh their browsers. 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. Open Sea. Magic Eden, which also supports . We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Magic Eden Response to Unverified NFTs Reports Updates from 4 January 2023 issue . . 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. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. If you suspect this to be the case, we recommend that you reach out to the creators and have them check for you whether your NFT is an authorized part of the collection. You are now the proud owner of a "DROPZONE" NFT. There is currently an exploit on Magic Eden allowing for unverified NFT's to be listed as part of the collection You can verify if an NFT is part of the collection on our explore page linked below If it's not in our explorer, it's not our NFT. A total of 25 fraudulent non-fungible tokens (NFTs) were purchased by unsuspecting buyers. But this resolution only worked for a few users and on select browsers. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. Magic Eden declares that the problem has been fixed and that affected individuals will get refunds. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Digital Currency Traders Alliance Lobbies Retail Investors to Oppose SEC Crackdown, Revolut Posts 33% Increase in Revenues, but Auditor Raises Questions, Cosmos (ATOM) Price Primed for a Big Move in March, Polkadot (DOT) and Kusama (KSM) Price Gear up for Next Rally, ZachXBT Alleges Bitbns Exchange of Disguising $7.5M Hack as System Maintenance, Ripple Exec Believes CBDCs are Strongest Cases for Utility, Top 10 Telegram Channels for Crypto Signals in 2023, Polygon CEO Proclaims Ethereum as Layer 1 Future, Dismisses Solana, Cardano, and Avalanche, Navigating Crypto Taxes Made Easy & Cheap: Meet Cryptiony, Ethereum Developers Plan New Holli Testnet as Goerli ETH Gets Marketplace. Read on to learn about this quick fix! "We have identified in the last 24 hours, the impact was contained to 25 unverified NFTs sold across 4 . Perks include discounts, NFT giveaways, and exclusive content. Now, no one can buy unverified NFTs on ME. 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. Magic Eden has also send refunds of the investments to those affected. Put simply, we are the best place for new and experienced non-fungible token fans making content fun & accessible. Now, no one can buy unverified NFTs on ME. Specifically, it added unverified NFTs into the collections at large. Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue.. 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. According to the statement issued by Magic Eden, over 25 fraudulent NFTs were sold across four collections in the last 24 hours. Read Next:Meta Bets Go Bust As Digital NFT Land Prices Plummet: Are Investors Wasting Money? OnIn your Profile Page, if an NFT falls into the Unverified items tab, this is because it is not recognized as part of a collection listed on the Magic Eden marketplace. What Did The Magic Eden NFT Marketplace Refund Users? 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. Discover the best and latest NFT collections today. Additional terms may apply to free offers. It is mandatory to procure user consent prior to running these cookies on your website. The company says it is taking steps to ensure future incidents do not occur. There is currently an exploit on Magic Eden allowing for unverified NFTs to be listed as part of the collection, You can verify if an NFT is part of the collection on our explore page linked below, If its not in our explorer, its not our NFThttps://t.co/c4HKIJJD1n, DeGods III (@DeGodsNFT) January 4, 2023. 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. Our goal is to provide the most delightful platform experience for creators and collectors. As it stands, no one can buy unverified NFTs on Magic Eden. document.write('