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HomeOpenseaOpenSea Didn't Stop the Sale of My Stolen NFTs, Says Plaintiff

OpenSea Didn’t Stop the Sale of My Stolen NFTs, Says Plaintiff

Following the theft of multiple NFTs, high seas required users to provide perjury as a prerequisite to unlocking their accounts.The move is the world’s largest NFT Marketplace.

If, unfortunately, your NFT were stolen, you would expect the world’s largest NFT marketplace to act quickly and diligently. BeInCrypto has learned that this is not always the case. For Robbie Acre, high seas froze him account 2 months or more.he is his wallet It hadn’t been compromised, so he couldn’t get it back. This is what we know:

Jul 12, 2022 13:28 GMT, two NFTs were transferred from Robbie Acres’ wallet without from Hape Prime collection and different KarafufuSpeaking to BeInCrypto, he suspects he was the victim of a phishing scam.

Shortly after, at 14:11, Robbie Acres, an avid NFT trader with a career in Web3, sent a report to OpenSea to return the stolen goods to his wallet and lock the fraudster’s account in line with the stolen goods policy. I asked you to Robbie made a note of the wallet he was in and notified the relevant community.

sauce: high seas

One allegation is that OpenSea did not act quickly or with enough care.

However, each within 1 hour and 20 minutes NFTs Handed over to scammers wallet, they were on sale. Within this period, Robbie and his legal team believe they had sufficient evidence and time to block the sale of NFT. In an email to OpenSea, he said: This was not the case and both were sold. “

Despite the recent launch of OpenSea, Features Neither NFT was caught in the net as it was designed to automatically detect theft and prevent assets from being sold. Even if he had two NFTs worth thousands of US dollars separately forwarded no payment.

More than two hours after the initial report, Robbie was asked to resubmit the ticket using the email address associated with his account. He changed his email address on his profile and was back in touch in less than 4 minutes.

On the 13th and 14th, Robbie sent two other emails asking for a response. He made it clear that he expects a refund or return of the stolen assets. He gave the company until the end of the week to respond before escalating with legal action.

14 days late, Robbie received the first response implicating this issue. OpenSea acknowledged its “late response” and apologized, but said it “cannot recover lost funds or his NFTs transferred from his wallet.” I know this is a disappointment, and it’s not the answer you were hoping for.

Account frozen during market downturn

In response, OpenSea did three things. They locked the scammer’s account and the stolen NFT. But Robbie’s account too, without his permission, was full of expensive and volatile assets. If I wanted my account unlocked, I had to say, “I have verified that my wallet has not been compromised.” It clearly was.

After months of emailing, Robbie was asked on September 29 to agree to the following statement:

Under penalty of perjury, I would like to prove that I have obtained additional information and withdraw the report regarding my wallet. [insert wallet address] has been compromised. I would like OpenSea to re-enable the purchase, sale and transfer of items in this wallet using OpenSea. I understand that this action cannot be undone.

What really worries me about the above statement is that 1) they held Robbie’s assets for ransom. 2) Robbie had to waive all claims to his stolen NFTs, thus permanently eliminating any chance of getting them back. 3) It is illegal under US law for the market to promote the sale of stolen NFTs. By requiring Robbie to sign this statement, they are trying to remove any legal liability.

This action by OpenSea meant he could not trade during a period of significant market downturn. Robbie claims he is seeking $500,000 in damages.

An OpenSea spokesperson told BeInCrypto:

“Theft is one of the biggest and most difficult ecosystem problems to solve because it occurs across many different digital surface areas and through many unique (and legitimate) communication channels…the problem The theft took place outside of OpenSea and the item was sold before OpenSea.I learned of the theft.I disabled the item as soon as I was notified and realized that the user’s account was unlocked. it was done.”

case is now Enrico Schaefer, founding attorney of Traverse Legal. Schaefer’s legal specialty is NFT. Dao, and blockchain. He also hosts his own educational YouTube channel.upon NFT LawyerSchaefer discusses the intersection of digital assets and law.

Schaefer told BeInCrypto that OpenSea violated consumer protection laws and violated its TOS and written policies.

“OpenSea failed to take the stolen NFT complaint seriously and locked the client’s account without permission,” he says. “OpenSea will also be responsible for conversion, treble damages, and attorney fees for managing my client’s assets and refusing to release them. We failed to handle this matter and were unable to provide reasonable assistance.”

Schaefer is not only an expert in this field, but also a technology advocate. In his view, OpenSea still needs him to adhere to Web3 standards, and his counterpart is no better than Web2. It’s also not the first time he’s seen this kind of behavior from the NFT marketplace giant.

“The web3 community celebrates transparency, decentralization and accountability. OpenSea failed on all three counts. Ultimately, nothing beats web2’s “software as a service” platform that we’ve all come to despise. “

“I have a number of clients who have had similar experiences with OpenSea. OpenSea has failed to focus on well-trained and available customer support. I suspect the same lawyers who ruined Web2 are leading blockchain service providers over the same cliffs.”


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