Giant NFT marketplace OpenSea is having a tough week again after banning an investor’s stolen apes from being sold – considered a huge mistake by the Twitter NFT community. Although the company may have had good intentions, many collectors claim their decision is against the concept of decentralization.
Three ape NFTs, hacked from a top collector
On October 30th, motivational speaker and NFT investor Calvin Becerra reported that three of his Bored Ape NFTs had been stolen. Accordingly, the hackers used moderator names on Discord to help Becerra solve a problem on his digital wallet.
In fact, the thieves guided Becerra towards choosing “an option” that allowed them to steal three apes worth over $1 million in total.
Of course, Becerra immediately took to Twitter, asking the NFT community not to buy the stolen assets. “Don’t let them win! Please don’t bid or pay for these stolen apes,” he desperately wrote.
What’s more, the investor also contacted giant NFT marketplaces OpenSea, Rarible, and NftTrader, asking them to stop any potential transaction. All platforms reacted quickly, including OpenSea:
OpenSea, the first to block stolen NFTs
The top NFT marketplace worldwide, OpenSea, was the first to take action. Accordingly, the platform marked all three apes as suspicious to prevent a potential hacker sale.
Of course, owner Calvin Becerra was impressed with the gesture, tweeting that the platform made “the right thing.” However, many other collectors criticized OpenSea’s decision, claiming it’s a huge mistake. More precisely, users say that the marketplace’s move goes against the concept of decentralization.
However, the Twitter NFT community did agree on one thing: the market needs some form of law enforcement for such situations.
Meanwhile, Twitter user and trader Gainzy tweeted “good luck to (OpenSea’s) customer support & legal teams” – and the company could really use some.
OpenSea: one mistake after another
Recently, the OpenSea marketplace has been struggling with plenty of major issues.
This month, a white hacker revealed an alarming flaw in the OpenSea codebase which allowed users to create fake blue-chip NFTs, such as the BAYC. This huge discovery probably saved the NFT market from losing millions of dollars; however, OpenSea barely rewarded the white hackers, offering just 3 ETH for their findings.
Meanwhile, back in September, the platform announced an insider trading scheme that led to a $67,000 profit for the culprit. This incident revealed a concerning regulatory gap among OpenSea’s employees, which – once again – turned against the group.
Contrary to all of its recent mistakes, OpenSea has surpassed $10 billion in trading volume this week – and it just keeps growing.