Thursday, February 24, 2022

Mintable Recovers NFTs Stolen in Opensea Exploit

New York, NY, USA, Feb 24, 2022 -- NFT marketplace, Mintable, is sending 3 NFTs that were stolen in a recent OpenSea exploit, back to their rightful owners. They found the NFTs on the LooksRare marketplace, which has garnered its own reputation for over USD 10 billion in wash trading and stolen NFTs, while acquiring NFTs for Mintable’s most recent flash sale.

In an exploit on 19 Feb, OpenSea users had about USD 1.75 million worth of NFTs stolen by a phishing scam. Mintable was buying Azuki NFTs for their flash sale on 20 Feb, which is part of Mintable’s ongoing floorbuster campaign to sell trending collections below floor prices. They came across listings for the stolen NFTs and bought Azuki #1178, #4176 and #1180 for about Ξ13.35 each and would like to return them to their previous holders. 

“This exploit was possible because of a bug on Opensea, and if OpenSea isn’t going to make it right, someone has to,” stated Mintable founder and CEO, Zach Burks, “For some of these people, all their net worth is tied up in their NFTs and it’s horrible to have them stolen. We like the Azuki community and we want to help give back to the people who lost over $140,000 through the exploit.”

Maintaining a Safe Space for NFT Communities

The OpenSea hack highlights security risks in Web3, and the imperative that users are well-informed about potential threats in the evolving landscape. While 3 NFTs have been recovered and will be returned by Mintable, over a million dollars’ worth of NFTs remain lost. 

A leading technology platform in the space, Mintable has pioneered gasless minting, batch minting and credit card purchases of NFTs. Burks believes it is now time to take another kind of step forward. 

Mintable is first reaching out to the Azuki project to help identify the community members who own the recovered NFTs, and then to open up a channel of communication to ensure that the NFTs returned remain secure. 

Understanding the vital importance of communities in the NFT space, Mintable’s most recent gesture reflects the platform’s commitment to building and maintaining a secure space where NFT buyers and holders can transact with their peace of mind intact.

About Mintable:
Mintable is a utility-focused marketplace, with every feature dedicated to improving the NFT trading experience. As the top technology platform in the space, Mintable has pioneered gasless minting, batch minting, and credit card purchases of NFTs. In 2021, Mintable announced the backing of a list of high-caliber investors including renowned venture capitalist and television personality, Mark Cuban; Sound Ventures, a venture capital firm founded by Ashton Kutcher and Guy Oseary; and TIME Ventures, the investment fund for Marc Benioff. To date, Mintable has sold and auctioned works by Grammy-Award-winning artists, 20th-century avant-garde artists, and various high-profile artists and celebrities.

In addition to the Marketplace, the Mintable ecosystem also includes Mintology, an NFT solutions provider for enterprise, and Mintable Go!, an investment fund dedicated to driving innovation in the NFT ecosystem. 

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