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You are here: Home / Cryptocurrency News / Solana’s Magic Eden To Refund Users After “Massive Exploit”

Solana’s Magic Eden To Refund Users After “Massive Exploit”

By Aishwarya shashikumar | Edited By Sahana Kiran,January 5, 2023, 4:16 PM

solana

Using suspicious photos in place of users’ NFTs, Solana’s top cross-chain NFT platform Magic Eden revealed on Twitter that one of the third-party picture service providers had been hijacked.

The announcement was made yesterday, in response to complaints from community members who said that during the course of the previous day, instead of the NFTs they attempted to see, they were seeing screenshots and stills from the television show “The Big Bang Theory” and risqué content.

The Solana NFT giant reportedly made an attempt to resolve the problem within an hour. Even still, some of the graphic pictures persisted.

The Magic Eden team, in a statement, encouraged consumers to refresh their web browsers in a message reassuring them that their NFTs were unaffected.

The statement read,

“Your NFTs are safe and Magic Eden has not been hacked. Make sure you do a hard refresh on your browser to fix it”.

The NFT marketplace believes that other websites were also impacted by the third-party vendor attack, but Magic Eden does not feel that it was specifically targeted by it. It would not disclose the name of the third-party provider out of security concerns.

25 Fake NFTs Sold On Solana’s Magic Eden

Marketplace for nonfungible tokens (NFTs) Magic Eden has promised to reimburse all users who were tricked into buying fraudulent NFTs on their website as a result of a bug.

The platform said in a statement on January 4 that a flaw in the “activity indexer,” which had just been made available for its Snappy Marketplace and Pro Trade tools, effectively allowed fraudulent NFTs to avoid verification and be displayed among real NFT collections.

Magic Eden said that the exploit resulted in 25 counterfeit NFTs being sold over four collections in the last day, but it is still unclear whether any NFTs were impacted after that.

The costly and well-liked collections ABC and y00ts, both headquartered in Solana, were two of the projects that were impacted.

By temporarily blocking these tools and removing the “entry points” that permitted unconfirmed NFTs to pass through, the NFT platform claimed that the problem has been fixed.

Additionally, it cautioned users against buying unverified NFTs and instructed them to “hard refresh” their browsers to make sure the unverified listings are gone.

Earlier today, unverified NFTs were being shown as part of verified collections on ME. 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. Now, no one can buy unverified NFTs on ME.

— Magic Eden 🪄 (@MagicEden) January 4, 2023

Filed Under: Cryptocurrency News, Altcoin News, Blockchain, World

About Aishwarya shashikumar

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