Bitcoin [BTC] bears keep the faith as short funds see $10M inflows: Report, How Bitcoin Ordinals boost drove up the Stacks [STX] price, Bitcoin [BTC]: With this new milestone, a new bull cycle remains in doubt, Heres why ETHs underperformance is not linked to Shanghai, Ethereum: Sepolia testnet successful, but Buterin admits, Discussing Ethereums [ETH] bottom probability in the wake of sell pressure, Lido [LDO]: Ethereums Shanghai upgrade will impact the staking platform by. The UI bug led to 25 unverified NFTs sold in four verified collections. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. Furthermore, the Pro Trade tools are an exclusive toolkit for some collections on the platform. Understanding why certain items are not tradeable on ME. The NFT marketplace says it will compensate the victims of this scam, taking responsibility of this exploit where internal systems [] CoinDeal members arrested on fraud charges, whats next? The NFT collection is not updated: If the collection is already listed, but some NFTs are still appearing as Unverified, the project creators may need to send us a collection update request form with an up-to-date hashlist. Home to the next generation of creators. A day after Magic Eden suffered a technical glitch that resulted in 25 unverified NFTs being sold as part of verified collections, the company announced on Thursday it wouldbe refunding all users who mistakenly bought the unverified NFTs. Solana NFT marketplace Magic Eden offered refunds to users affected by the posting of unverified NFT collections on its marketplace. Last month Magic Eden was embroiled in controversy for selling unverified NFTs on its platform. Earlier today, top Solana NFT marketplace Magic Eden faced an issue where unverified NFTs were showing up as part of The company is currently working to determine if any more NFTs beyond the most recent day were impacted. The UI issue pertains to Magic Edens recently launched Snappy Marketplace and Pro Trade tools. It has pledged to refund. Magic Edens smart contract remains secure, and this incident was an isolated UI issue.. Home to the next generation of digital creators on Solana. 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. All rights reserved. Tokoni Uti has written extensively on blockchain and cryptocurrency for years. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. 25 fake NFTs were sold on the marketplace in 24 hours. The team also adds that they are continuously monitoring the situation to ensure this issue does not occur again. According to the statement, the case was related to the platforms user interface and stemmed from new features that were recently deployed. 223Magic Eden11Web3Web3. Required fields are marked *. AAVEs daily active user count surprises investors, but can it empower price? Read on to learn about this quick fix! The issue was further resolved by requesting users to hard refresh their browsers and adding an extra verification step to prevent similar attacks. 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 NFT in question is not part of the collection: Sometimes if an NFT shows as Unverified, its possible that it may be a fake. Home News Magic Eden Refunds Users Affected By Unverified NFT Bug. Thank you to the community for alerting us there was an issue where people could buy fake ABC NFTs. Can Bitcoin [BTC] defy the infamous March Chronicle in 2023? It also advised users to perform a hard refresh to ensure that the unverified listings no longer appeared in their browser session and, as a precaution, to stop purchasing unverified NFTs. Looking for more latest crypto news on related topic? Magic Eden, however, assures that the company is secure for traders. Magic Eden said that a third-party service for caching images was compromised. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. We use cookies to improve your experience. A day after Magic Eden suffered a technical glitch that resulted in 25 unverified NFTs being sold as part of verified collections, the company announced on Thursday it would be refunding all. Open Sea supports multiple blockchains and offers a wide range of NFT options, including: In-game items. Brenda Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. Magic Eden Ventures is the VC arm of cross-chain NFT marketplace Magic Eden and has recently invested in 11 blockchain gaming studios as part of its commitment to promote the growth of the . This game was followed by a racing game launching called Infinite Drive. Necessary cookies are absolutely essential for the website to function properly. Be a smarter, safer investor in eight weeks. If you were affected by ABC or other collections, please chat https://t.co/CyteCOTQ2V so we can help you. var rnd = window.rnd || Math.floor(Math.random()*10e6); Most curated auction items do not belong to a collection yet, and as such would appear as Unverified. According to the statement issued by Magic Eden, over 25 fraudulent NFTs were sold across four collections in the last 24 hours. Due to the malfunction, unsuspecting buyers have been tricked into purchasing fake NFTs for large sums of money. This free-to-play action multiplayer game is available on mobile devices. Read on to learn about this quick fix! Unverified NFTs appeared as a part of verified collections on the marketplace. The launch has been dubbed "Mint Madness," a nod to the NCAA college basketball . Individuals are required to fully research any product prior to making any kind of investment. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. While there are still some features to be added, we see this platform as a great way to view. Did you miss our previous article https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Gold IRA: Get This Guide to Learn All About It, https://nft.magnewsblog.com/win-a-limited-edition-ledger-with-world-of-womens-new-quest/, Museum of Fine Arts, Boston, and laCollection Launch Second NFT Collection of Rarely Seen French Impressionist Pastels, Danny Cole Launches Creator World Fashion Label during NYFW, Celo blockchain uses Soulbound tokens to power a new identity system, WeGo Battle Pods Arrive Selling Out At Light Speed, You Can Now Buy NFTs That Help Rebuild Brazils Rainforest. var plc588602 = window.plc588602 || 0; We have gathered similar news articles for you to spare your time. For the official PotatoCoin, this is 143787817. 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. No#1 NFT News Website Dedicated to Supporting the Expansion & Mainstream Adoption of NFTs, Decentralization and the Metaverse. Next, Magic Eden added an extra verification step to completely block similar types of attacks. She enjoys discussing blockchain technology and is committed to producing original content. Probing the intersection of crypto and government. Press J to jump to the feed. Do Not Sell My Personal Data/Privacy Policy. This new hashlist should include your NFT, and once it is processed, your NFT will appear as a verified piece of the collection. SUBSCRIBE The team tweeted on Jan. 5 that the impact was contained to 25 unverified NFTs sold in four verified collections. 04 Jan 2023 17:22:27 Twelve lines are currently operational (counting Lines 3a and 3b as separate lines), with extensions and additional lines in the planning and construction stage. Subscribe - We publish new crypto explainer videos every week! As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. 0.62% 0.80% The unverified NFTs randomly popped up on the collection pages on different projects. Users will not be able to buy unverified NFTs on the platform. document.write(''); NFT marketplace Magic Eden has fixed an issue where unverified NFTs would appear in verified collections. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. The unverified NFTs randomly popped up on the collection pages across different projects. Wait, are they Satoshi? He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Following the announcement, Twitter users continued to raise the alarm about the prevalence of fake y00ts NFTs on the platform. Magic Eden revealed that it will refund all the users who mistakenly bought unverified NFTs that showed up on the collection pages as a result of a recent breach. NFTevening is the biggest website for NFT news. You are now the proud owner of a "DROPZONE" NFT. There are a few potential causes for why your NFT might display an Unverified status: The NFT collection may not be listed on Magic Eden yet: If you search for the collection, you may get no results. In its tweet on 5th January 2023, Magic Eden informed that "unverified NFTs" were listed over the platform and were shown as they were part of marketplaces' "verified collections." By that time, about 25 such unverified NFTs from four distinct NFT collections were said to have been affected in the last 24 hours. Assessing 1INCHs performance prior to token unlocks, Algorand [ALGO]: Day traders reluctant as market sentiment remains bearish, Ethereum [ETH]: Will this development turn HODLers into stakers, Chainlink [LINK]: Will $7.2 support hold steady? While the overallNFT market saw some high-profile sales digital artwork by Beeple sold for $69 million and a tweet by Twitter co-founderJack Dorseysold for $2.9 million it hadalso attracted fraudsters and hackers. This tool does what Snappy Marketplace tools do, but with even more stats to aid collectors in their decision-making. Cookies Policy / Privacy Policy / Terms of Use. Magic Eden stated that they took immediate action by disabling the entry points that discard the new and unverified NFTs. Magic Eden aims to be your destination for discovery, expression, and ownership across digital cultures. This initiative rewards users with Magic Points based on the secondary trading transactions on the platform. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Reports were emerging from the crypto community on Jan. 4 related to fake NFTs. Magic Eden NFT . BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. The Magic Eden team has verified that the impact was contained to 25 unverified NFTs sold across 4 collections. Optimism [OP]: Social hype reaches new heights: Is a cool-off looming? What Issues Did The Magic Eden NFT Marketplace Face? Now, no one can buy unverified NFTs on ME. The marketplace said that those unverified NFT transactions appeared in the activity tabs of the collections and their web page. To resolve the issue, the team first disabled entry points to eliminate new unverified NFTs. The platform then directed users to hard reset their browsers. As always, make your own research prior to making any kind of investment. Magic Eden Ventures Investing in Web3 Gaming Projects. Edens activity indexer did not properly validate the originator address for these two tools. Building the biggest and most liquid NFT marketplace globally and home to the next generation of digital creators. CoinDesk journalists are not allowed to purchase stock outright in DCG. However, the team is currently confirming whether additional. The source of the technical issue was confirmed to be a UI issue due to a new feature deployment. 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. var pid588602 = window.pid588602 || rnd; Take a look! Twitter Discord What is Magic Eden? Magic Eden is one of the most user-friendly platforms on the market. Discover the best and latest NFT collections today. The UI bug was present in both of those deployed features. Magic Eden is the leading community-centric NFT marketplace. Solana-based NFT marketplace Magic Eden has fixed a bug where unverified NFTs would show up as verified. Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. "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. Magic Eden is safe for trading and we will refund all the users who mistakenly bought unverified NFTs specifically due to this issue.. Meanwhile, Magic Eden said in a Thursday morning update that it would refund affected users. Sold across 4 collections / Privacy Policy / Terms of use Bitcoin [ BTC ] defy the March... Quot ; DROPZONE & quot ; DROPZONE & quot ; DROPZONE & quot DROPZONE! Some collections on its platform: is a crypto enthusiast and a graduate the... And creativity on different projects is an excellent NFT buying and selling platform for both amateurs and alike! 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