Magic Eden is the leading community-centric NFT marketplace. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. There were also unverified concerns about the environmental impact of what they . Magic Eden recently updated some features on its platform. But this resolution only worked for a few users and on select browsers. Magic Eden, however, assures that the company is secure for traders. Solana. Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. 0% listing fee, only 2% transaction fee. 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. The bug is also the second challenge Magic Eden has faced this week. All rights reserved. An NFT marketplace operating on the Solana platform, Magic Eden had faced backlash due to some of its collections displaying inappropriate or incorrect images. 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. A screenshot from ABC creator HGE showed at least two sales of 100 Solana each, for about $2,600. Mintable and Moonpay Partner To Accelerate NFTs on Immutable X, Leah Lamarr Live Mints Comedy NFTs at ETH Denver, Metamask Web3 Wallet Steps In the Gaming Industry With Unity, NFT Paris 2023: France at the Forefront of the Web3 Revolution, xPortal by MultiversX Aims To Become Your Metaverse Passport, Adam Weitsman: The New Owner of Dookey Dash Golden Key, Animoca Brands New NFT Licenses Defend Creator Royalties, Prada Timecapsule NFT Unveils Exclusive Ragazzini Print Trilogy, TwelveFold by Yuga Labs Unveils Unique Bitcoin Collection. To resolve the issue, the team first disabled entry points to eliminate new unverified NFTs. var pid588602 = window.pid588602 || rnd; These cookies will be stored in your browser only with your consent. The pieces were thus included in the complete collection without further action. var rnd = window.rnd || Math.floor(Math.random()*10e6); For the official PotatoCoin, this is 143787817. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. NonFungible.com | NFT market stats, sales tracker, rankings & news In a statement, the Solana-based NFT marketplace said that a bug was deployed in an update to two of its features - Snappy . 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. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Magic Eden is the leading community-centric NFT marketplace. Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. Earlier today, unverified NFTs were being shown as part of verified collections on ME. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. 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. This website uses cookies to improve your experience while you navigate through the website. Magic Eden declares that the problem has been fixed and that affected individuals will get refunds. 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. Due to a technical issue, Magic Eden users bought unverified NFTs. News and analysis for the professional investor. Your email address will not be published. Open Sea. This is now the drop zone. This free-to-play action multiplayer game is available on mobile devices. var absrc = 'https://servedbyadbutler.com/adserve/;ID=177750;size=0x0;setID=588602;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid588602+';place='+(plc588602++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; 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. Upon being alerted to the issue by NFT buyers and creators, Magic Eden reportedly resolved the problem and indicated that it had been fixed. What financial advisors need to know about crypto. However, the team has since resolved the issue in a short turnaround time. Read Next:Meta Bets Go Bust As Digital NFT Land Prices Plummet: Are Investors Wasting Money? All impacted users will be refunded, and Magic Eden is actively monitoring the situation to ensure no further issues arise, the company stated. 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. Due to the malfunction, unsuspecting buyers have been tricked into purchasing fake NFTs for large sums of money. Edens activity indexer did not properly validate the originator address for these two tools. Earlier today, unverified NFTs were being shown as part of verified collections on ME. Read on to learn about this quick fix! Magic Eden's recent issues Last month Magic Eden was embroiled in controversy for selling unverified NFTs on its platform. Press J to jump to the feed. The high-priced and popular Solana [SOL]-based collections, ABC and y00ts, were two other affected projects. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. The tweet further cited community reports that people had purchased fake ABC NFTs. Now, no one can buy unverified NFTs on ME. Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. You also have the option to opt-out of these cookies. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. Solana NFT marketplace Magic Eden offered refunds to users affected by the posting of unverified NFT collections on its marketplace. BitDegree.org - An Independent Initiative of The Best Crypto Exchange Reviews & Personal Advice | [emailprotected]. Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month, The Story Behind BONK Token's Meteoric Price Rise And Why Its Liquidity Fee Rate Is Unsustainable. Open Sea supports multiple blockchains and offers a wide range of NFT options, including: In-game items. 2 min read Non-fungible token (NFT) marketplace Magic Eden on. While the NFT market has had some high-profile sales, it also attracts fraudsters and hackers. 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The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. 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. "Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue." Magic Eden also communicated with the users about the issue via their social media accounts. Bitcoin Ordinals and how it relates to recent miner interest: Decoding. Brenda Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. . Decentralands Metaverse Fashion Week is Back for 2023! The company is currently working to determine if any more NFTs beyond the most recent day were impacted. However, the team has since resolved the issue in a short turnaround time. Over the last day, the issue was contained to 25 unverified NFTs in 4 collections. However, there was a bug deployed in an update that affected the entire platform creating a massive exploit. Today's 57,000+ jobs in Paris, le-de-France, France. AstroSphereNFT is a new gaming DAO coming to Solana. Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Most curated auction items do not belong to a collection yet, and as such would appear as Unverified. Required fields are marked *. In this tutorial, we teach you how to buy an NFT on Magic Eden. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Understanding why certain items are not tradeable on ME. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. The co-founder of Magic Eden, Jack Lu shared that the assets will be minted on 11th March, while Overtime CEO, Dan Porter cited the "the value of accessing a finals NBA" [as] near USD$1000", a . The Survivors need to Loot, Craft & Build, and Fight (zombies and one another) their way to Survival! Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. Go to Magic Eden. The marketplace confirmed that the issue was resolved. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. Home News Magic Eden Refunds Users Affected By Unverified NFT Bug. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of verified NFT collections. Magic Eden has become the latest victim of an exploit, leading to the listing and sale of fake NFTs via the platform. The firm reports having s flaw in an update that broke the verification process for NFTs before they could be added to their application mentioned above. The team is refunding the affected users. Following the announcement, Twitter users continued to raise the alarm about the prevalence of fake y00ts NFTs on the platform. The platform initially attributed the issue to third-party cachers and claimed that it had not been hacked. The platform has since resolved the issue and states that no one will be able to buy unverified NFTs anymore. He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space. Non-fungible token (NFT) marketplace Magic Eden on Wednesday said an unresolved issue has allowed fake NFTs to be listed and sold as part of real collections. When the official mint happens . 1. Save my name, email, and website in this browser for the next time I comment. Now, no one can buy unverified NFTs on ME. Moreover, the team also adds that they will refund any affected users if the issue persists. To ensure that platforms users are safe, Magic Eden confirmed that their smart contract is still secure and emphasized that the problem was in the tools, not the contract. Magic Eden Refunds Users Affected By Unverified NFT Bug. Further actions to reinforce the security measures were also taken by the team via adding extra verification steps to eliminate similar attacks. Users will not be able to buy unverified NFTs on the platform. Because of that, dupes of NFTs from various collections were able to get listed in the marketplace. Benzinga does not provide investment advice. The recently implemented tools were also temporarily disabled so that users were prevented from seeing unverified NFTs in the collection pages for newer sessions. It has pledged to refund. Established in 2018. Updated over a week ago Why was my NFT auto-delisted /offer cancelled by ME? All rights reserved. Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Our goal is to build the most heartwarming and welcoming community in the NFT space. The Solana-based NFT marketplace Magic Eden closes a business deal with 11 gaming platforms to stimulate the growth of Web3 projects. The le-de-France tramways ( French: Tramways d'le-de-France) are a network of modern tram lines in the le-de-France region of France. y00ts creator DeGods also tweeted to his followers about an exploit on Magic Eden that allowed unverified NFTs to be listed as part of the collection. Now, no one can buy unverified NFTs on ME. According to the official report, the impact of the exploit was 25 unverified NFTs sales across 4 collections. Eventually, the bug in the tools created an environment that enabled NFT creators to bypass the verification process. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. Let's kickstart your NFT journey and get you your first Solana NFT on Magic Eden!---Magic Ede. The latest exploit is the second incident that Magic Eden users have had to deal with this week. 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