OpenSea announces new security features to protect users from NFT scams

OpenSea, a major NFT marketplace, is on fire due to frequent NFT hacks and scams.

Following the rise in NFT fraud, the company announced a new feature that automatically hides suspicious NFT transfers on the marketplace . This will protect users from fraud and show only legitimate transactions.

OpenSea is committed to enhancing the reliability and safety of the platform. According to a recent blog by co-founder and CEO Devin Finzer, there are many key areas for trust and security, including anti-theft, IP breaches, rapid fraud detection, and faster response times with more staff. Will make a considerable investment in.

In addition, a special team has been set up to handle reviews and moderation. For copyright concerns and other fraud, he said he would use “significant auto-detection” technology in the future. By removing this kind of thing from the platform, Finzer said, it can improve overall performance. It will also prevent annoying ads and fraudulent items, such as those found on open blockchain, from appearing in OpenSea.

On the 14th, Mr. Finzer tweeted that he could receive NFT remittances from unknown individuals in the same way that he received junk mail, adding: “Recently, I’ve seen scammers use these transfers to entice them to click links to malicious third-party sites. Our latest trust and security release is this new. Helps prevent fraud “

Author

  • Gowtham Paramasivam

    Hi, I’m Gowtham Paramasivam, Chief Technology Officer at Dconn. I’ve always been intrigued by how we humans thrive on building things. Being a techie, that fascination turned into a vision after learning about Blockchain Technology. I’ve never left it since and I believe that in the coming years, most of our systems will rely on blockchain. I hope that you find my articles informative and also help you understand the true potential of this technology better.

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