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Four major security updates on OpenSea! Ban suspicious users, hacked wallets cannot list items

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Four major security updates on OpenSea! Ban suspicious users, hacked wallets cannot list items

In order to prevent infringement of creators' intellectual property rights, as well as NFT scams and plagiarism issues, OpenSea has recently released four technical updates following the new mechanism introduced in May this year. These updates aim to enhance the security of users' wallet assets and block malicious users. Additionally, the common issue of malicious transfer of NFTs on the platform will be the focus of the next security update.

OpenSea Technology Updates

In May of this year, OpenSea updated its verification system and introduced Copymints technology to address the issues mentioned above. Today, OpenSea has announced the following four changes to further enhance security measures for users:

  1. Product Reports: An active product reporting system where OpenSea's Trust and Safety team monitors 24/7 to remove suspicious listings reported by users.
  2. Account Compromise Tool: A self-serve account compromise tool that allows users to prevent their NFTs from being listed if their wallet is compromised via the OpenSea interface.
  3. Suspending Suspicious Accounts: OpenSea will proactively suspend accounts of bad actors engaging in suspicious behavior on the platform.
  4. Smart Audit Tools: These tools will review problematic collections and take further action as necessary.

OpenSea's Next Steps

In addition to the above updates, in the second half of 2022, OpenSea plans to invest in security in the following areas:

  1. Theft and Fraud Prevention: Malicious transfers have always been a common issue on the blockchain, and the platform aims to automatically hide suspicious NFT transfers to reduce their visibility on individual pages.
  2. Internet Intellectual Property Rights: To prevent intellectual property infringement, OpenSea will establish more protection for transferred NFTs, reduce spam, and collaborate with third-party creators.
  3. Expanded Audit Scale: To combat various fraudulent activities on the platform, OpenSea will expand its audit team and add more automated detection methods for copyright and fraud issues.
  4. Reduced Response Time: OpenSea will allocate more resources to critical areas of user issues to shorten our average response time to below 24 hours.
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