OpenSea is a non-fungible token (NFT) marketplace based in New York City, operated by a group of American entrepreneurs, Devin Finzer and Alex Atallah.
On the Ethereum blockchain, OpenSea provides a marketplace that allows non-fungible tokens to be traded directly at a set price or via an auction. The platform is built on the ERC-721 standard and the layer-2 scaling solution for the Ethereum Polygon network.
It seems that the attackers managed to steal hundreds of NFTs from OpenSea users, generating panic among the site’s large user base. During the hack, according to a spreadsheet collected by the blockchain security firm PeckShield, 254 tokens were taken, including tokens from Decentraland and the Bored Ape Yacht Club.
32 users were targeted by the attack, which happened between 5 pm and 8 pm Eastern Time, and according to Molly Whit the author of blog Web3 is Going Great, the stolen tokens were worth more than $1.7 million.
Panic erupted on February 19 as a few users saw their wallets emptied of valuable NFTs without knowing why, and many others feared the same could happen to them. Early explanations blamed a new contract that OpenSea had rolled out, or an airdrop from a new