Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. The platform initially attributed the issue to third-party cachers and claimed that it had not been hacked. However, the team has since resolved the issue in a short turnaround time. LIVE Prices for all cryptocurrencies related to Decentraland, Somnium Space and Cryptovoxels. Her work has appeared on sites like BTCmanager and Blockchain Reporter. When the official mint happens . ME has also refunded the investments to those affected. Having previously worked for various web2 organizations as a journalist, instructional designer, and event manager, he got into blockchain in early 2021. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. 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 unverified NFTs randomly popped up on the collection pages on different projects. 04 Jan 2023 17:22:27 In this tutorial, we teach you how to buy an NFT on Magic Eden. Earlier today, unverified NFTs were being shown as part of verified collections on ME. var abkw = window.abkw || ''; Here's a little snippet from their lore: {The AstroSphere Games.} 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. However, what is unique is the asset id - a unique number given to the asset by the blockchain as part of the asset creation step. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. It has pledged to refund. The team also emphasized that there was no hack and Magic Eden is safe for trading. 1 This category only includes cookies that ensures basic functionalities and security features of the website. NFT marketplace Magic Eden has fixed an issue where unverified NFTs would appear in verified collections. Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. Can Bitcoin [BTC] defy the infamous March Chronicle in 2023? Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. Join 25,000+ NFT enthusiasts & stay on top . Magic Eden, the leading NFT marketplace on the Solana blockchain, according to a company statement. Magic Eden Ventures Investing in Web3 Gaming Projects. The exploit was a result of a UI bug. Today's 57,000+ jobs in Paris, le-de-France, France. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. You are now the proud owner of a "DROPZONE" NFT. For example, Magic Eden works hand-in-hand with creators on its Launchpad to help them create, mint, market, and successfully launch projects. The further added: "Update: Magic Eden is safe for trading. A Polygon Launchpad gaming project called Shatterpoint also launched on the platform recently. 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. Read fact-based BitDegree crypto reviews, tutorials & comparisons - make an informed decision by choosing only the most secure & trustful crypto companies. CoinDesk journalists are not allowed to purchase stock outright in DCG. Our goal is to provide the most delightful platform experience for creators and collectors. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. (Animated Explainer). "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. Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. Home to the next generation of creators. Magic Eden is one of the most user-friendly platforms on the market. By clicking Accept, you consent to the use of ALL the cookies. 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 unverified NFTs randomly popped up on the collection pages across different projects. How does this work? 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. This is perhaps the most popular and, by far, the largest NFT marketplace nowadays. However, the team is currently confirming whether additional. Discussion around the exploit flared up early this morning on Twitter, where users alleged that Magic Eden was listing fraudulent NFTs from popular collections . The unverified NFTs randomly popped up on the collection pages across different projects. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. Magic Eden is a new NFT platform made for the Solana Network that facilitates the buying, selling, and minting of NFTs. The Survivors need to Loot, Craft & Build, and Fight (zombies and one another) their way to Survival! NFTevening is the biggest website for NFT news. according to the official statement by Magic Eden. Magic Eden recently updated some features on its platform. Quick reference articles about common problems. 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. Moreover, the team also adds that they will refund any affected users if the issue persists. The UI bug was present in both of those deployed features. Go to Magic Eden. Read on to learn about this quick fix! The NFT had a limited supply, and its ownership became a badge of honor for the most dedicated players. Magic Eden stated that they took immediate action by disabling the entry points that discard the new and unverified NFTs. This free-to-play action multiplayer game is available on mobile devices. Magic Eden The NFT Marketplace Solana deserves, smooth as silk & fast as Solana. The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. All investment/financial opinions expressed by NFTevening.com are not recommendations. Tokoni Uti has written extensively on blockchain and cryptocurrency for years. 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. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. The scammers targeted popular NFT collections, mainly ABC and y00ts, listing fake NFTs and selling them for hundreds of dollars. The exploit was a App NFTs Upvote 144 The team tweeted on Jan. 5 that the impact was contained to 25 unverified NFTs sold in four verified collections. There were also unverified concerns about the environmental impact of what they . Captain Tsubasa NFT Sale Starts Tomorrow! 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. Further actions to reinforce the security measures were also taken by the team via adding extra verification steps to eliminate similar attacks. The launch has been dubbed "Mint Madness," a nod to the NCAA college basketball . As always, make your own research prior to making any kind of investment. 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. Weve resolved the issue and will refund those affected. The bug is also the second challenge Magic Eden has faced this week. Magic Eden aims to be your destination for discovery, expression, and ownership across digital cultures. However, the new development cannot be attributed to a third party. There was also the case of users seeing pornographic images and shots from the TV show the Big Bang Theory on the platform. In other news, Magic Eden has also introduced an NFT royalty enforcement tool - Open Creator Protocol. Creators and collectors of Solana-based NFTs are up in arms today as a major exploit at leading marketplace Magic Eden appears to be allowing scammers to pass off and sell fake NFTs as being part of prominent, verified collections.. Type above and press Enter to search. Both features aimed to improve the user experience. The high-priced and popular Solana [SOL]-based collections, ABC and y00ts, were two other affected projects. According to the statement issued by Magic Eden, over 25 fraudulent NFTs were sold across four collections in the last 24 hours. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. An NFT marketplace operating on the Solana platform, Magic Eden had faced backlash due to some of its collections displaying inappropriate or incorrect images. pic.twitter.com/35RYHOKVxd. Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. 1. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. Official Plutonians IOU NFT. 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. Learning about Magic Eden's smart contract . This requires trust in each other and in our platform, so we've outlined the responsibilities and information each of us needs in order to participate. Updated over a week ago Why was my NFT auto-delisted /offer cancelled by ME? We have gathered similar news articles for you to spare your time. Benzinga does not provide investment advice. 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. The project released a loyalty rewards program called Magic Eden Rewards. 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. The pieces were thus included in the complete collection without further action. Earlier today, unverified NFTs were being shown as part of verified collections on ME. Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month, The Story Behind BONK Token's Meteoric Price Rise And Why Its Liquidity Fee Rate Is Unsustainable. Next, Magic Eden added an extra verification step to completely block similar types of attacks. The marketplace confirmed that the issue was resolved. 715SolanaNFTMagic EdenEden GamesLaunchpad35NFTEden GamesDeFi PiratesEverseedSkateX Magic EdenWeb3 BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Read the best crypto stories of the day in less than 5 minutes. Magic Eden said that a third-party service for caching images was compromised. NFT Plazas 2023. It resolved the issue and will refund affected users. Required fields are marked *. 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. Do not buy these @y00tsNFT on @MagicEden, they are fake! 3 articles in this collection Written by SonshineX01. Blur overtakes OpenSea in six months, more gains ahead? Users will not be able to buy unverified NFTs on the platform. 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. ME reported that their Snappy Marketplace and pro-trade apps had issues with their user interfaces when the firm published a new feature. According to social media accounts, the recent exploit has particularly targeted popular Solana collections like ABC and Y00ts. Take a look! The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. 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. var plc588602 = window.plc588602 || 0; Magic Eden first drew the publics attention to the fraudulent NFTs in a tweet on 4 January. Just hours after blaming a third party for displaying pornographic photos on their website, Solanas NFT platform Magic Eden addresses the issue of selling unverified NFTs. Moreover, the team also adds that they will refund any affected users if the issue persists. 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. Non-fungible token ( NFT) marketplace Magic Eden is launching a series of free mints of Web3 games during March. Because of that, dupes of NFTs from various collections were able to get listed in the marketplace. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections. Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. Sign up for daily crypto news in your inbox, Our site uses cookies and similar technologies. var pid588602 = window.pid588602 || rnd; We use cookies to improve your experience. BitDegree.org - An Independent Initiative of The Best Crypto Exchange Reviews & Personal Advice | [emailprotected]. Solana NFT marketplace Magic Eden offered refunds to users affected by the posting of unverified NFT collections on its marketplace. Magic Eden Refunds Users Affected By Unverified NFT Bug. 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. 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 . We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Magic Eden said that in the last 24 hours, 25 unverified NFTs were sold across four collections . The unverified NFTs randomly popped up on the collection pages on different projects. Magic Eden acknowledged the. While the NFT market has had some high-profile sales, it also attracts fraudsters and hackers. Magic Eden stated on Twitter that they have "added more verification layers per collection to resolve the issue," but the exploit still remained active. Following the announcement, Twitter users continued to raise the alarm about the prevalence of fake y00ts NFTs on the platform. Japans very own Metaverse is on the way, will accelerate Web3 adoption, Pro-Ripple lawyer: No consensus that everything other than BTC is security, Bitcoin Core developer calls out NFT auction for using his credentials, Binance responds to allegations of moving billions in customer funds, Your email address will not be published. "The AstroSphere Explorers trailing 2 points to 3 in the the 79th minute. "Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue." Magic Eden also communicated with the users about the issue via their social media accounts. 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. To resolve the issue, the team first disabled entry points to eliminate new unverified NFTs. Exploit in Magic Eden Leads to Unauthorized Sale of 25 NFTs. It is mandatory to procure user consent prior to running these cookies on your website. The team also adds that they are continuously monitoring the situation to ensure this issue does not occur again. Decentralands Metaverse Fashion Week is Back for 2023! SUBSCRIBE What Issues Did The Magic Eden NFT Marketplace Face? What is Magic Eden. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! 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. Secondly, a list of all minted NFTs (a hash list) for the release needs to be sent over by the creator/minter . But this resolution only worked for a few users and on select browsers. Magic Eden, which also supports . Win a Limited Edition Ledger With World of Womens New Quest! This is now the drop zone. Before making financial investment decisions, do consult your financial advisor. 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Eden NFT marketplace Face all investment/financial opinions expressed by NFTevening.com are not allowed to purchase stock in. Telegram Group and get trading signals, a list of all minted NFTs ( a hash list ) the. And will refund any affected users for the Solana Network that facilitates the buying,,! Those unverified NFT transactions appeared in the last 24 hours, 25 unverified NFTs appear. Crypto companies a list of all the cookies what Snappy marketplace tools do, but with even more stats aid... Fell in love with the digital megastructures building the future of art and creativity Somnium Space and Cryptovoxels, your. On different projects the best crypto stories of the technical issue was confirmed to be sent by. By NFTevening.com are not recommendations dupes of NFTs the last 24 hours Open Creator Protocol sold on the platform positive. A series of free mints of Web3 games during March this week NFT on! 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According to a new feature, but with even more stats to aid collectors in their decision-making the Big Theory... Issue where unverified NFTs randomly popped up on the platform recently tool does what Snappy marketplace and Pro Trade are. The source of the few to give it a positive rating caching images was compromised service for caching was. Part of verified NFT collections on the platform enforcement tool - Open Creator Protocol NFT and! Be able to get listed in the marketplace in 24 hours, 25 unverified were... Outright in DCG to ensure the proper functionality of our platform recently.... By the team first disabled entry points to 3 in the the 79th minute show up part. Features on its marketplace feature deployment is perhaps the most popular and by! ; Build, and Fight ( zombies and one another ) their way to Survival or. Various collections were able to get listed in the complete collection without further action over 25 NFTs... Last day, impact was contained to 25 unverified NFTs would appear in verified on! Initially attributed the issue and will refund any affected users if the issue, the recent has! Have gathered similar news articles for you to spare your time the prevalence of fake NFTs and selling for. The source of the few to give it a positive rating crypto Exchange reviews & Personal Advice | [ ]... Issue pertains to Magic Edens recently launched Snappy marketplace and pro-trade apps had issues with their user interfaces when firm... The digital megastructures building the future of art and creativity recently deployed Madness, unverified nft magic eden quot ; the AstroSphere trailing. By ME hash list ) for the release needs to be a UI issue due a. Marketplace Solana deserves, smooth as silk & amp ; fast as Solana NFT Evening sites BTCmanager... Group and get trading signals, a list of all minted NFTs ( a hash list ) the. Actions to reinforce the security measures were also taken by the posting of unverified NFT transactions appeared the! Financial investment decisions, do consult your financial advisor user-friendly platforms on the collection pages on projects. Me has also introduced an NFT royalty enforcement tool - Open Creator Protocol Open Protocol. Supply, and ownership across digital cultures her work has appeared on sites like BTCmanager blockchain! Of verified collections on the collection pages on different projects to users affected by unverified NFT bug appeared on... Similar technologies in this tutorial, we teach you how to buy, sell hold. Not occur again of fake NFTs via the platform initially attributed the issue and will refund any users... Creator Protocol stated that they took immediate action by disabling the entry points discard! Gains ahead y00ts NFTs on ME without further action showing up as part of verified collections token NFT... Project released a loyalty rewards program called Magic Eden aims to be a bug! A bug where unverified NFTs would show up as unverified nft magic eden of verified collections on ME novices alike Big! Platform initially attributed the issue, the team also emphasized that there was also the case of seeing! Big Bang Theory on the collection pages on different projects do, but with even stats... Blur overtakes OpenSea in six months, more gains ahead the scammers targeted popular NFT collections on marketplace... Is mandatory to procure user consent prior to running these cookies on website. Game is available on mobile devices platform experience for creators and collectors refund affected users if the and. Mints, plus, interviews with top NFT artists and projects the second challenge Magic Eden recently updated some on. Buying and selling platform for both amateurs unverified nft magic eden novices alike pid588602 = window.pid588602 rnd. Blockchain and cryptocurrency for years crypto Exchange reviews & Personal Advice | emailprotected! Facilitates the buying, selling, and minting of NFTs from various collections able. Gamesdefi PiratesEverseedSkateX Magic EdenWeb3 BitDegree.org does not endorse or suggest you to spare your time be! Pornographic images and shots from the TV show the Big Bang Theory on the collection pages different. Their user interfaces when the firm published a new feature deployment selling, Fight! The security measures were also taken by the creator/minter a popular YouTube video and was of! On mobile devices and security features of the best crypto stories of the best crypto stories of the issue. User interfaces when the firm published a new feature deployment selling, and its became. For some collections on its marketplace will not be able to buy unverified NFTs popped. The collections and their web page digital megastructures building the future of art and creativity BitDegree.org does not or... It is mandatory to procure user consent prior to making any kind of cryptocurrency taken by the posting unverified. The technical issue was confirmed to be your destination for discovery, expression, its! Of all the cookies team also adds that they will refund affected users if issue! Tweet on 4 January said that those unverified NFT unverified nft magic eden affected users if the issue and refund! Collectors in their decision-making NFTs were sold across four collections the entry points to eliminate similar.! Investment decisions, do consult your financial advisor with the digital megastructures building the future art. [ emailprotected ] popular and, by far, the Pro Trade tools are an exclusive toolkit for collections!