Monday, October 2, 2023
HomeOpenseaNew OpenSea Policy On Stolen NFTs: Police Report Is Now Required

New OpenSea Policy On Stolen NFTs: Police Report Is Now Required

OpenSea is the largest marketplace for NFTs and digital collectibles that have become part of the routine of traders and collectors. OpenSea supports multiple blockchains with different sets of categories and offers the best prices for new digital items.

regardless of NFT’S GROWING COMMUNITY, no wonder the cheating is obvious. NFT fraud is rampant and burdening the public. Web3 platformOpenSea has been criticized for penalizing buyers for buying stolen goods.fungible tokenThe issue has prompted OpenSea to change how it manages its missing NFT assets, it said Wednesday. OpenSea usually temporarily withholds her NFT access during investigations, but this time it’s different.

OpenSea now requires a police report before filing a report on stolen NFTs. According to them, the policy was created to comply with U.S. laws to stop the sale of stolen goods. However, the customer must call the police within 7 days of the event. This is to avoid false reports of stolen NFTs.

on the other hand, high seas is building a new feature that will allow buyers who report stolen goods to buy and sell without the need for a letter from a notary. They also said they are working with other blockchain companies to prevent fraud and other criminal activity in the world of NFTs.

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