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OpenSea incorporates additional measures to combat NFT theft

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During the last few months, asset theft remains one of the biggest problems in the NFT space, for this reason, leading companies in the market like OpenSea has decided to incorporate new solutions to this problem.

OpenSea recently announced that its policies prohibit knowingly selling stolen items under US law.

Because of this corporate policy, the NFT marketplace decided to expand the use of police reports as an additional form of prevention in the purchase and sale of stolen items.

How the new prevention measures will work

The new update will allow you to confirm all stolen item bulletins on the NFT platform. In other words, without a report within seven days, the platform will allow the purchase and sale of the reported item again to avoid false reports.

OpenSea also reported that it is working to find other solutions to tackle the problem of NFT theft at its roots by automating threat and theft detection.

Everything points out that the platform developers are increasingly concerned with protecting users against NFT scams, ensuring that only legitimate transactions are visible in the market.

NFT theft prevention

Over the months, cybercriminals have found new strategies to carry out NFT scams and robberies.

However, there are some important measures to operate with NFTs more securely, for example:

  1. Never share your initial phrase or password.
  2. Always check your direct message history and verify its origin.
  3. Do not click on any links that promise freebies and offers.
  4. If you’re tempted to click, check carefully who’s sending the links first, and especially on Discord.
  5. Try to keep your most valuable assets in a “cold wallet”.
  6. Try using a hardware wallet.
  7. Get a password manager for all your wallets and accounts. These types of tools help generate and save complex passwords.

OpenSea bans wallets that interacted with Tornado Cash

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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