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OpenSea Offers A Solution To Recover Stolen NFT

Gauri Pant - Coinnounce
2022-08-11 07:22
Open Sea, the largest NFT Marketplace platform in the crypto industry, has introduced several solutions to the problem of freezing stolen NFTs.
OpenSea has long been criticized for many important unresolved issues. They are stealing art copyrights to broadcasts NFTs or NFT hacks.
When an account’s NFT is stolen, OpenSea freezes the user’s account, even if the buyer does not know that the NFT has been hacked, as it has purchased the stolen NFT. Buyers will both lose the money they spent to purchase NFT and unreasonably suspend their accounts.
In a series of Twitter posts on the morning of August 11, representatives of the platform announced the latest recommendations to solve the above problem.
1/ Can we address the in the room? We want to provide you more clarity and transparency around our stolen items policy ↯
— OpenSea (@opensea) August 10, 2022
US law prohibits the sale and trade of stolen assets, so the exchange must seal all NFTs reported stolen by hackers. To prevent users from being unjustly frozen, openSea recommends: that users report the theft to the police so the exchange can verify and recover information.
On August 10, OpenSea also released a new update that addresses the issue of copying and redistributing someone else’s NFT copy mint.
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