New gift feature on OpenSea crypto exchange can be used to discredit famous people

The «gifts» feature on the leading token marketplace OpenSea has been causing confusion due to mislabeled transactions that could potentially be taken advantage of by dishonest traders. Now, NFTs can be sent directly to any wallet during the purchase process on OpenSea. This means that users will be able to buy NFTs with Ethereum from one wallet and transfer them to another wallet in a single transaction.

Some third-party wallet trackers track NFT purchases made by influencers and celebrities. The new feature makes it appear as if the recipient of the gift has purchased NFTs from different collections for themselves.

While the problem is not a concern for ordinary NFT holders, more serious ones that track celebrity purchases may be misled into buying the same NFT collections.

An OpenSea spokesperson acknowledged the problem, claiming that it «is the result of a misinterpretation of the data.»

«It appears that third-party wallet trackers are misclassifying these activities as purchases by the gift recipient,» the company added on Twitter.

This is not the first time that the OpenSea API has caused concern. Back in January, a user interface bug allowed some well-known customers to purchase NFTs from Bored Ape Yacht Club at old prices that were not clearly listed on the site.