OpenSea to help teach hackers who steal NFTs a lesson

The largest NFT trading platform has announced that it intends to improve the mechanism for reviewing theft claims. OpenSea is also automating its threat detection system. The company emphasized that its policy was developed taking into account the US laws, according to which the intentional authorization of the sale of stolen goods is punishable by criminal proceedings.

The company recognized that in some cases, out of ignorance, customers buy stolen items and, as a result, pay a fine or even go to jail. Therefore, the platform has adjusted its policy in such a way as to be able to keep in touch with police representatives in a semi-automatic mode and respond to new cases of NFT fraud.

According to the innovations, if the platform does not receive feedback from law enforcement on suspicious tokens within seven days, it will re-launch the possibility of buying or selling the claimed item. This mechanism will help to avoid fake applications and reduce OpenSea’s legal and reputational risks.

The company is also working on finding other solutions to the problem, such as automating threat and theft detection. In June, OpenSea co-founder and CEO Devin Finzer said that the platform would redouble its efforts to fight fraud and plagiarism. According to him, the platform has created systems to combat most of the prohibited manipulations, such as unauthorized copying and scanning of images.

Recently, we mentioned that the value of non-fungible tokens that were identified as stolen or suspicious on the OpenSea platform alone was more than $ 25 million.