Author : Mark

Date : Jan 05,2023

Magic Eden addressed the issue in a tweet this morning

Magic Eden said that the issue had been resolved, however authors and traders claim that fraudulent NFT sales are still taking place.

The premier marketplace Magic Eden appears to have a serious vulnerability that allows con artists to pass off and sell false NFTs as being a part of well-known, confirmed collections. This has angered the creators and collectors of Solana-based NFTs.

Magic Eden addressed the issue in a tweet this morning and expressed gratitude to the public for "alerting us there was an issue where people could acquire bogus ABC NFTs." The marketplace advised concerned sellers to get in touch with marketplace support because it had "added more verification levels per collection to remedy the issue."

HGE, the man behind ABC, and other well-known Solana personalities, however, said that the issue was still not resolved. HGE referred to the issue as a "huge exploit," and requested that Magic Eden temporarily shut down the market until it is being repaired.

HGE tweeted to Magic Eden, "I know volume is vital, but minimize the damage first." Make absolutely certain that the exploit is terminated.

Magic Eden tweeted just after 1pm ET that although the issue has been resolved on their end, consumers might still see the fake listings until they "hard refresh" their browsers.

According to a tweet from Magic Eden, "We rectified the root issue earlier today, however we believe users who didn't hard refresh their browsers still saw unconfirmed NFTs on collection & activity pages." "Less than 10 collections have probably been impacted by this situation. A public postmortem with more information will be conducted.

When some users on Tuesday mistook NFTs for pornographic photographs and "The Big Bang Theory" stills, Magic Eden advised them to "hard refresh" their browsers. According to Magic Eden, the issue was brought on by a third-party image caching partner who had been compromised, and it has since been resolved.

HGE stated that he believes the issue is with Magic Eden's index, which unintentionally displays information from phony NFTs on the sites of legitimate projects.

HGE informed Decrypt that "they told me they repaired it when they stated they fixed it." But the repair was clearly a mistake.

The NFT standard and the Metaplex protocol are unrelated, according to Metaplex, which created the Solana token standard that outlines how NFTs operate.

According to a tweet from Metaplex, this problem "appears to be unrelated and is the result of faulty inspections at the marketplace layer."