The NFT platform said it corrected the issue by temporarily disabling both tools and eliminating “entry points” that allowed unverified NFTs access.
It also required users to perform a “hard update” to ensure that unverified listings do not appear in the browser session and to close purchases of unverified NFTs as a precaution.
“Magic Eden is safe to trade and we will refund all users who mistakenly purchased unverified NFTs specifically because of this issue,” she wrote.
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Magic Eden first sounded the alarm about fraudulent NFTs in a Twitter post on Jan. 4, citing community reports that people were able to purchase fake ABC NFTs. At the time, it said it had added “layers of validation” in an effort to resolve the issue.
Following the announcement, Twitter users continued to sound the alarm over the fake y00ts NFTs proliferating on the platform. A screenshot from ABC creator “HGE” showed at least two sales of 100 SOL each, for a total of about $2,600.
DeGods, the creator of y00ts, also tweeted to his followers that there was an exploit in Magic Eden that allowed unverified NFTs to be included as part of the pool.
The latest exploit is now the second incident Magic Eden users have to go through this week.
On January 3, the market was flooded with pornographic images and images from the TV series The Big Bang Theory.
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Magic Eden said the third-party image hosting provider “compromised” resulting in “hateful images” and assured users that their NFTs were safe.
Update (Jan 5th, 10:00 PM UTC): The article has been updated to reflect the latest numbers from Magic Eden released on Jan 5th stating that 13 fake NFTs have been sold across five pools. I previously reported fake 25 NFTs being sold across four batches.