OpenSea Introduces New NFT Anti-theft Features

    Top marketplace OpenSea rolled out two new features aimed at preventing theft on the platform.

    New features, one to prevent NFT theft and the other to scan for them, aim to protect users and suppress bad actors in the industry.

    The first feature will actively scan URLs, immediately blocking malicious links appearing on the collected fraud list. These links are decoys, tricking users into giving control of their NFT wallets to scammers.

    The second feature automatically detects and flags NFTs that are at risk of being stolen or being traded in a suspicious manner. This NFT will then be banned from trading on the platform for 7 days, unless the owner contacts for verification. OpenSea previously flagged NFTs for warnings, but still allowed them to be traded.

    “We’re working closely with other marketplaces, wallet providers, analytics organizations, and others, to develop holistic scam detection and prevention systems. We look forward to sharing more on this front soon,” OpenSea added.

    The largest cryptocurrency platform in the industry once suggested that users “report to police” if they suspect their NFT has been stolen, then got many mixed responses from users.

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