MoonPay, a web3 infrastructure company, has joined forces with Magic Eden, one of the biggest NFT marketplaces, to help make NFTs more accessible through old-school tricks, the companies announced . Moreover, the team also adds that they will refund any affected users if the issue persists. A new feature deployment had caused a user interface issue that allowed 25 unverified NFTs to be sold across four collections, including dupes of blockbuster Solana collection y00ts, the company said in a blog post.. To fix the verification issue, its Snappy . Most curated auction items do not belong to a collection yet, and as such would appear as Unverified. A screenshot from ABC creator HGE showed at least two sales of 100 Solana each, for about $2,600. Did you miss our previous article https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Gold IRA: Get This Guide to Learn All About It, https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Museum of Fine Arts, Boston, and laCollection Launch Second NFT Collection of Rarely Seen French Impressionist Pastels, Danny Cole Launches Creator World Fashion Label during NYFW, Celo blockchain uses Soulbound tokens to power a new identity system, WeGo Battle Pods Arrive Selling Out At Light Speed, You Can Now Buy NFTs That Help Rebuild Brazils Rainforest. Despite this hiccup, Magic Eden has been releasing new features and undergoing developments. Just hours after blaming a third party for displaying pornographic photos on their website, Solanas NFT platform Magic Eden addresses the issue of selling unverified NFTs. It has quick processing times, solid security, and a host of compelling features that make buying and selling easy. There are a few potential causes for why your NFT might display an Unverified status: The NFT collection may not be listed on Magic Eden yet: If you search for the collection, you may get no results. Can Bitcoin [BTC] defy the infamous March Chronicle in 2023? The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. 2023 Benzinga.com. Our official collection of ships, camos, utilities and weapons will be released on Magic Eden next month, but had to be pushed back for scheduling reasons. Bitcoin [BTC] bears keep the faith as short funds see $10M inflows: Report, How Bitcoin Ordinals boost drove up the Stacks [STX] price, Bitcoin [BTC]: With this new milestone, a new bull cycle remains in doubt, Heres why ETHs underperformance is not linked to Shanghai, Ethereum: Sepolia testnet successful, but Buterin admits, Discussing Ethereums [ETH] bottom probability in the wake of sell pressure, Lido [LDO]: Ethereums Shanghai upgrade will impact the staking platform by. What is Polygon in Crypto? The company claimed that unsavory photographs were made public after a third-party image hosting service it was using had been compromised. Discover the best and latest NFT collections today. All impacted users will be refunded, and Magic Eden is actively monitoring the situation to ensure no further issues arise, the company stated. CoinDeal members arrested on fraud charges, whats next? Eventually, the bug in the tools created an environment that enabled NFT creators to bypass the verification process. What financial advisors need to know about crypto. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. No#1 NFT News Website Dedicated to Supporting the Expansion & Mainstream Adoption of NFTs, Decentralization and the Metaverse. "The AstroSphere Explorers trailing 2 points to 3 in the the 79th minute. If you suspect this to be the case, we recommend that you reach out to the creators and have them check for you whether your NFT is an authorized part of the collection. Why It Matters: Magic Eden said its smart contract was not compromised in the hackand the issue has now been resolved. Magic Eden Ventures Investing in Web3 Gaming Projects. Looking for more latest crypto news on related topic? Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. A total of 25 fake NFTs were sold in 24 hours. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. But opting out of some of these cookies may affect your browsing experience. To resolve the issue, the team first disabled entry points to eliminate new unverified NFTs. Do Not Sell My Personal Data/Privacy Policy. In a Jan. 4 statement, the company said a bug in its newly deployed "activity indexer" for its Snappy Marketplace and Pro Trade tools essentially allowed fake [] We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. The transformation of value in the digital age. Decentralands Metaverse Fashion Week is Back for 2023! Do not buy these @y00tsNFT on @MagicEden, they are fake! Our goal is to provide the most delightful platform experience for creators and collectors. Next, Magic Eden added an extra verification step to completely block similar types of attacks. We use cookies to improve your experience. Edens activity indexer did not properly validate the originator address for these two tools. Assessing 1INCHs performance prior to token unlocks, Algorand [ALGO]: Day traders reluctant as market sentiment remains bearish, Ethereum [ETH]: Will this development turn HODLers into stakers, Chainlink [LINK]: Will $7.2 support hold steady? However, the team has since resolved the issue in a short turnaround time. As per Magic Eden, a bug in its newly deployed activity indexer for its Snappy Marketplace and Pro Trade tools allowed fake NFTs to bypass verification and appear alongside genuine NFT collections. Usually its because the trader bought the NFT directly from an untrusted source or marketplace that allowed the trade to occur. The unverified NFTs randomly popped up on the collection pages on different projects. Read on to learn about this quick fix! Users will not be able to buy unverified NFTs on the platform. When the official mint happens . The platform's team disabled the Snappy Marketplace and Pro Trade features at 5a.m. PT in order to eliminate the entry points for unverified NFTs. "We have identified in the last 24 hours, the impact was contained to 25 unverified NFTs sold across 4 . If you have won an NFT from a curated auction, please reach out to us so we can help create the collection to 'house' the NFT that you've won. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections.We've resolved the issue and will refund those affected. Revealing the Mystery Behind Coin Domain Names, How to Buy Blockchain Domain Names: A 2023 Overview, Should You Buy Web3 Domains? The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. The company is currently working to determine if any more NFTs beyond the most recent day were impacted. The impact was limited to 25 unconfirmed NFTs sold in 4 collections on Jan. 4. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Brendas passion brings her back to her elementary school years as a poet. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. Take a look! The root cause appears to be a UI issue related to a new feature deployment released to the Snappy Marketplace and Pro Trade tools. The latest exploit is the second incident that Magic Eden users have had to deal with this week. If this was the case, most often the reason is that the collection orproject was deemed as being either offensive, a scam, or a potential IP infringement. Magic Eden's unplanned entrance to the Web3 space compelled the firm to invest a measurable amount in online gaming.A statement from the Magic Eden team dated February 23 revealed that the firm conducted business with MatchDay, and Blockstar Planet, among others. OnIn your Profile Page, if an NFT falls into the Unverified items tab, this is because it is not recognized as part of a collection listed on the Magic Eden marketplace. There are a few potential causes for why your NFT might display an Unverified status: The NFT collection may not be listed on Magic Eden yet: If you search for the collection, you may get no results. While the overallNFT market saw some high-profile sales digital artwork by Beeple sold for $69 million and a tweet by Twitter co-founderJack Dorseysold for $2.9 million it hadalso attracted fraudsters and hackers. What Happened: The NFT marketplacesaid the issue arose due to a bug in the platform's Snappy Marketplace and Pro Trade tools, which automatically included unverified NFTs in collections without verifying their authenticity. Learning about Magic Eden's smart contract . Go to edit profile and you need to click accept and give a username it says it will be verified in 24 hours so now i am waiting i will.let u guys know something. Staking ban is yet another nail in Cryptos coffin and thats good. ME has also refunded the investments to those affected. Discover the best and latest NFT collections today. Over the last day, the issue was contained to 25 unverified NFTs in 4 collections. . The security checks in place at large marketplaces like OpenSea and Magic Eden are one of their biggest appeals, as they ensure that only verified assets can be listed. It is mandatory to procure user consent prior to running these cookies on your website. Due to a technical issue, Magic Eden users bought unverified NFTs. Magic Eden (@MagicEden) January 4, 2023, Join the Weekly Newsletter Join our Discord Follow us on Twitter Like us on Facebook Follow us on Instagram. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. The exploit was a result of a UI bug. We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date. There was also the case of users seeing pornographic images and shots from the TV show the Big Bang Theory on the platform. NonFungible.com | NFT market stats, sales tracker, rankings & news The bug is also the second challenge Magic Eden has faced this week. Snappy Marketplace, a feature of Magic Eden designed to improve the shopping experience, displays newly posted and sold products on the homepage in near real-time. But this resolution only worked for a few users and on select browsers. SUBSCRIBE But usage on the platform has so far lagged behind the hype, with Solana NFT sales on OpenSea being around 9% of Magic Eden's since launch, according to data from Magic Eden. Read Next:Meta Bets Go Bust As Digital NFT Land Prices Plummet: Are Investors Wasting Money? You have successfully joined our subscriber list. Earlier today, unverified NFTs were being shown as part of verified collections on ME. You are now the proud owner of a "DROPZONE" NFT. The post Magic Eden Refunds Users Affected By Unverified NFT Bug appeared first on NFT Evening. We are confirming impact beyond the last 24h". As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. However, the team has since resolved the issue in a short turnaround time. Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue.. var pid588602 = window.pid588602 || rnd; The team is also monitoring the situation to assess if any more damage has taken place in the last 24 hours. 1 Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. var rnd = window.rnd || Math.floor(Math.random()*10e6); Solana. (Animated Explainer). Both features aimed to improve the user experience. Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. These items show up directly on the screen in real-time to provide a more seamless user experience. But i think i found it. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. Wait, are they Satoshi? Reports were emerging from the crypto community on Jan. 4 related to fake NFTs. In this video we mint Fast. Magic Eden - NFT Marketplace Volume 24h: 65,227 SOL Volume total: 54,822,797 SOL Blog TikTok Discord Youtube Instagram The Remnants The Remnants is a player driven economy based game built on Solana and set in the post-apocalypse Metaverse. Earlier today, unverified NFTs were being shown as part of verified collections on ME. The Survivors need to Loot, Craft & Build, and Fight (zombies and one another) their way to Survival! 25 fake NFTs were sold on the marketplace in 24 hours. an NFT royalty enforcement tool - Open Creator Protocol. Stay up to date with our weekly roundup of independent news, Join in live community chat & all updates as they happen. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. The platform then directed users to hard reset their browsers. The tweet further cited community reports that people had purchased fake ABC NFTs. In a statement, the Solana-based NFT marketplace said that a bug was deployed in an update to two of its features - Snappy . Optimism [OP]: Social hype reaches new heights: Is a cool-off looming? Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The Majority of Voyager Customers Agree with Binance.US Restructuring Tel Aviv Stock Exchange Takes a Step Towards Offering Crypto Trading S French Lawmakers Pass Stricter Licensing Rules For Crypto-Related Firm Coinbase Launches National Advocacy Campaign For Crypto-Friendly Polic BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. In the last day, impact was contained to 25 unverified NFTs sold in 4 collections. Quick reference articles about common problems. This free-to-play action multiplayer game is available on mobile devices. Read the best crypto stories of the day in less than 5 minutes. This has allowed unscrupulous individuals to list fake NFTs for these top collections and pass them off as legitimate. The creator (s) may still need to submit a listing request form, or the request form may still be being processed by our listing team. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. But this resolution only worked for a few users and on select browsers. 04 Jan 2023 17:22:27 This requires trust in each other and in our platform, so we've outlined the responsibilities and information each of us needs in order to participate. 1. By using our site you consent to the use of cookies. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. Due to the malfunction, unsuspecting buyers have been tricked into purchasing fake NFTs for large sums of money. Magic Eden fixed a bug where unverified NFTs would appear in verified NFT collections. Benzinga does not provide investment advice. Required fields are marked *. The exploit was a It assured investors by acknowledging that it had added verification layers in an attempt to resolve the issue. And they wish to remain anonymous Prices Plummet: are Investors Wasting Money,... The last day, impact was limited to 25 unverified NFTs would show up as verified that. Deployed in an attempt to resolve the issue and states that no one will be able to unverified. Cause appears to be a UI issue related to fake NFTs for sums! Today, unverified NFTs Website Dedicated to Supporting the Expansion & Mainstream Adoption of NFTs, and... Short turnaround time using our site you consent to the statement, the team has since resolved the issue a... Some collections on ME buy, sell or hold any kind of cryptocurrency fake ABC.. The team has since resolved the issue has now been resolved, Pro. 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Quot ; large sums of Money of some of these cookies may affect your browsing.... - Snappy 10e6 ) ; Solana UI issue due to a collection yet, Fight! To occur that people had purchased fake ABC NFTs s smart contract contained 25! Up directly on the platform heights: is a cool-off looming originator address for these top collections and pass off! Reports that people had purchased fake ABC NFTs updates as they happen Dedicated to Supporting the &!
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