Thursday, September 21, 2023
HomeOpenseaOpenSea launches new contract-clearing system to protect against recent bug

OpenSea launches new contract-clearing system to protect against recent bug

On Thursday night, the blockchain platform OpenSea will launch a new system to help users clear unbilled sale offers, which will be rolled out in the next two weeks. In the posting of the announcementCEO Devin Finzer described the changes made to “make sure the old inactive list expires”.

This move happens after a bug Allow attackers to exploit old contracts Buy tokens at a price that is hundreds of thousands of dollars cheaper than the market price. In one of the hottest cases in January, Bored Ape Yacht Club tokens were purchased for less than $ 2,000 and immediately resold for more than $ 192,000.

This bug is a result of how the OpenSea platform interacts with the Ethereum blockchain and often saves gas bills by listing offers locally rather than coding them on a wider chain. Due to an oversight of the system, old contracts could remain on the blockchain without appearing in the OpenSea interface. Attackers can take advantage of badly outdated prices, often by making offers to contracts that are years old. It usually surprises the owner of the token.

As OpenSea explains, the new system allows users to cancel all unfulfilled contracts with minimal gas charges. Another change will make the signature clearer and prevent users from misunderstanding the terms and conditions in the future. It is expected that it will take 15 days for the new system to be fully deployed. At that point, the user is invited to switch their account to the new system.

The largest platform for trading and bidding on NFTs, OpenSea has been a huge success in the process of the recent boom. At the same time, the company has struggled to secure and mitigate the influx of new activity in the market. Recent Chain Analysis Report Although the issue is not unique to OpenSea, we have found a small but increasing amount of money laundering activity on the NFT marketplace.


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