OpenSea introduces new security feature

Suspicious NFT transfers sent to a user on the platform may now automatically be hidden.

Jun 17, 2022
by Dragan
OpenSea introduces new security feature
News

OpenSea, the most popular NFT marketplace now has a new security feature to help combat the many scams in the crypto space.

The new feature in question is the automatic hiding of NFT transfers that seem suspicious. VP of Special Projects at OpenSea, Anne Fauvre-Willis, said:

“Blockchains like Ethereum are open and flexible systems that have catalyzed new products, applications, and features we love. However, with this openness, blockchains can also enable activity that isn’t welcome. One particular ecosystem-wide issue involves unexpected NFT transfers from someone you don’t know. This is similar to email: anyone can send you an email, including scammers.”

In the announcement post on their blog, Anne also says that the company has seen cybercriminals “use these NFT transfers to entice a recipient to view an NFT listing that contains links to malicious third-party websites.” They’ve also clarified that they “have not seen any instance where simply receiving a transferred NFT  – without additional user actions (e.g. navigating to a malicious third-party website or providing a signature) – causes malicious activity.”

From now on, some NFTs transferred to you will automatically go in the “Hidden” folder on the platform. This could cause genuine, legitimate NFTs to also be incorrectly tagged, which is why there will now be a banner in the “Collected” section that will let you know if anything has been moved to the other folder. The “Hidden” folder now also lets you filter whether you want to see NFTs that were automatically hidden or view items hidden by you, with all hidden NFTs being shown by default.

“These changes have started rolling out to all users. Over the next few weeks and months we will continue to train our detection logic. During this time, we may accidentally auto-hide legitimate transfers. If that happens to you, please know that we’re working to evolve our algorithms, and it’s safe to unhide transfers you were expecting.”

Because of these new updates, there is a chance that a transfer doesn’t show up in either of the folders, in which case affected users can “reach out to our support team for help at support.opensea.io.”        

This is just one of the many security-focused updates OpenSea has added this year and will continue to do so in an effort to provide a secure marketplace for everyone.

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