OpenSea Stuck, 42 NFTs Worth More Than RM400 Thousand 'Burned' Due To Bugs - Kakiforex.com - Financial Market Media No. 1 in the World OpenSea Stuck, 42 NFTs Worth More Than RM400 Thousand 'Burned' Due To Bugs OpenSea Stuck, 42 NFTs Worth More Than RM400 Thousand 'Burned' Due To Bugs
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September 10, 2021

OpenSea Stuck, 42 NFTs Worth More Than RM400 Thousand 'Burned' Due To Bugs

 Around noon yesterday OpenSea faced a bug issue resulting in the loss of a number of NFTs worth over 28 ETH.


That amount equates to over $ 97,160 (~ RM402,388) based on the value per unit of Ethereum (ETH) at the time this article was written.


The flaw was self -reported by Ethereum Name Service (ENS) chief developer Nick Johnson. This figure also reports the loss of an NFT i.e. the first ENS name, “rilxxlir.eth”.


ENS is a naming system that allows users to store text -based content as NFT in the Ethereum blockchain. In short, it is a decentralized naming system for wallets, websites, and more in addition to using only ".com", ".org", ".io", ".app", ".xyz", and ".art"



According to Johnson, he tried to transfer the NFT to his personal address on the OpenSea account, without realizing the address was linked to a token burning account. He found the burning bug was on the OpenSea transaction page.


Due to that, "rilxxlir.eth" has been deleted forever. The same thing happened to other users with an estimated around 32 transactions facing the loss of 42 NFTs due to a system bug in OpenSea.


OpenSea via its tweet, took note of the issues that arose and resolved the matter on the same day:


We've reached out to the small number of users who were affected by the issue yesterday where sending an NFT to an ENS name sent it to the encoded version of the literal text (e.g. "OS.eth") instead of the associated address. This was a bug we introduced and fixed that day.


- OpenSea (@opensea) September 9, 2021