OpenSea Seeks to Introduce New Security Provision

OpenSea is stepping up its game to protect its users as hundreds of non-fungible token (NFT) owners are constantly targeted by scammers (77).jpg

The world’s largest trading platform for digital collectables announced recently that it has upgraded its platform to automatically send suspicious NFT transactions or incoming assets to a “hidden” tab. While this detection is done by default, OpenSea said the enablement can be adjusted with users typically being given the opportunity to choose whether they will like to decide which incoming NFTs will be added to the Hidden tab.


OpenSea also said the new sieving tool is not perfect as the algorithm is still being trained. As a result, some legitimate assets may be hidden but users can remove them from this tab without any harm whatsoever.


“These changes have started rolling out to all users. Over the next few weeks and months, we will continue to train our detection logic. During this time, we may accidentally auto-hide legitimate transfers. If that happens to you, please know that we’re working to evolve our algorithms, and it’s safe to unhide transfers you were expecting,” the NFT trading platform said.


The update to its fraud detection program has become a very big necessity for OpenSea in recent times. While the trading platform has been dragged to court for alleged security frailty in the past, it has notably suffered a series of phishing attacks with its users losing their priced assets.


While it hopes that this current upgrade will help stem fraudulent activities across the board, it still acknowledged that the overall business of keeping the entire industry safe is a collective responsibility of all stakeholders in the ecosystem.


“Ultimately, an ecosystem-wide effort is required to defeat scam and theft techniques. While we work with partners to achieve that larger goal, we hope that today’s change has a positive impact on the issue of theft in the web3 community. It is the first step of many we plan to take over the next few months,” the trading platform wrote.

Image source: Shutterstock

Credit: Source link






British supermodel Cara Delevingne posed topless for the August issue of British Vogue

The corresponding pictures appeared in the official accounts of the publication on social networks....

Top 10 Linktree Alternatives to Boost Your Link-in-bio Game

Make no mistake, Linktree is one of the leading creator tools. Trusted by some of the world’s biggest influencers and brands like Selena...

14 Of The Best Rings For Men To Elevate Your Everyday Look (2022 Edition)

Looking for a way to spice up your usual everyday outfit? Put a ring on it. When you think of the best rings...

Zero-Waste Jewelry Companies : cloud factory

'Cloud Factory' is a Tallinn, Estonia-based jewelry company aiming to make a large impact in the sustainable jewelry market. The company leverages 3D...

VOICES 2022: BoF’s Annual Gathering for Big Thinkers Is Coming

BoF VOICES 2022 is coming — and as a valued member of our community you can register to watch all of the talks,...
en English