As asset thievery remains among the greatest headaches within the nonfungible token (NFT) space, NFT marketplace OpenSea is striving to tailor its policy to include additional measures against stolen products.
Within an announcement, the firm highlighted that it is policies were created thinking about U . s . States laws and regulations, where knowingly allowing the purchase of stolen products is illegitimate. However, industry accepted that in some instances, clients who unknowingly bought stolen products were penalized while they weren’t to blame. Due to this and also the NFT community’s feedback, industry has adjusted its policy to grow using police reports.
Formerly, police reports were utilised inside the platform in escalated disputes. Using the new update, they’ll be accustomed to confirm all stolen item reports inside the NFT platform. With no police report within a week, the woking platform will let the exchanging from the reported item again to prevent fake reports. After this, the organization has additionally made efforts to alleviate the procedure for re-enabling the exchanging features when the stolen products are retrieved.
The NFT platform also highlighted that it is trying to find other methods to tackle the issue of NFT thievery at its roots. Based on the announcement, the organization is focusing on automating threat and thievery recognition.
A Twitter user recognized the move, describing it as being a great initial step and encouraged other platforms to follow along with suit while suggesting the glory from the how to go about laws and regulations using their company countries too. However, some community people continue to be disgruntled, taking to Twitter to report their issues. A person authored:
That’s funny because when my NFT was stolen, both Opensea and also the NFT Company that produced it, virtually explained to visit hell. What a general change in attitude. I suppose it just matters when a large number of individuals are complaining
— CompassionateNFTkidz (@COMPASSIONTENFT) August 11, 2022
Meanwhile, another user claimed that they obtained a stolen NFT unknowingly, and also the support at OpenSea suggested the user market it on another NFT marketplace.
Related: Hacker tastes own medicine as community will get back stolen NFTs
In June, the NFT platform enabled additional security measures to safeguard its users from NFT scams. The feature hides NFT transfers which are flagged as suspicious instantly. The aim of this really is to make sure that only legitimate transactions may be seen in industry.
