Opensea New Features, Now You Can Freeze Stolen NFTs

Opensea New Features, Now You Can Freeze Stolen NFTs, We have some good news from Opensea. The largest NFT marketplace in the world, Opensea annaunced in a blog post on Wednesday that it will test a system that freezes trading on Non-Fungible Tokens (NFT) involved in suspicious sales while it investigates the transaction to prevent theft and scams.

When the platforms new automated system detects a suspicious NFT sale, it will notify the seller, giving the user one week to dispute or confirm the transaction before the aset is sold by the new owner.

According to Opensea, bad actors try to flip stolen NFTs after draining the victims assets via malicious links claiming to offer fake airdrops or free mints.

Crypto analysis firm Elliptic, reported that over $100 million in NFTs were stolen between July 2021 and July 2022.

In brief

Opensea, the top NFT marketplace by trading volume, has launched new theft detection and prevention features.
One features detects and disables scam links shared on the platform, while the other identifies stolen NFTs and blocks their resale.