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Bids and purchases are not provided to ensure that listings are protected until the migration is complete.
The week-long period that OpenSea has given users to migrate their list of untraceable tokens (NFTs) ends today. After the deadline, the platform announced that some features on the website may be temporarily unavailable due to the migration process.
On February 19, OpenSea promoted a new smart contract and urged users to start migrating their NFT listings from the old contract to the new one. NFT Marketplace mentions that the upgrade brings new features like bulk listings and more descriptive signatures while ensuring that all inactive listings expire.
However, hours after the announcement, the platform reported phishing attacks that resulted in some users losing their NFTs. The OpenSea team then opened an investigation to find out what happened. Devin Finzer, co-founder of OpenSea, has urged affected users to contact their support team.
The NFT Mintable platform has committed to returning NFTs that were stolen in the recent OpenSea scam exploit. The team found that some of the lost NFTs were listed on another marketplace called LookRare. They decided to buy NFT and return it to their original owners according to Zack Burks, the founder of Mintable.
On Friday, the contract migration ended and the platform informed users that active listings in the site could be hidden and the floor price subject to change. However, the platform says that this is only temporary. To protect listings, OpenSea has temporarily disabled bids and purchases until the migration is complete.
Meanwhile, the blockchain community has been wary of NFTs. An alleged NFT scam targeting $20 million worth of digital assets has been stopped by Youtuber Coffeezilla and community members. An anonymous user published a detailed report that brought to light existing claims against team members that ran the alleged NFT scam.
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