London Daily

Focus on the big picture.
Saturday, May 31, 2025

OpenSea confirms hacker stole NFTs 'worth £1.25m' from 32 users

OpenSea confirms hacker stole NFTs 'worth £1.25m' from 32 users

According to the blockchain analysis company PeckShield, at least 254 non-fungible tokens were stolen as a result of an unknown attack.

A hacker has stolen hundreds of NFTs from dozens of people on the popular trading platform OpenSea, the company's chief executive has confirmed.

The thefts have prompted a scare in the cryptocurrency community, where many people are attempting to realise enormous gains by investing in largely unregulated assets.

Devin Finzer confirmed on Twitter that the company believed the hacker made $1.7m (£1.25m) from selling the stolen non-fungible tokens (NFTs), but stressed that rumours "this was a $200 million hack are false".

What happened?


According to the blockchain analysis company PeckShield, at least 254 tokens were stolen as a result of an unknown attack.

Some of the tokens have been returned, Mr Finzer said.

It is believed that the hacker tricked their victims into signing partial digital contracts sanctioning the trades using a phishing email, before then completing the contract to transfer their victims' tokens to an address which they controlled.

On Sunday, Mr Finzer said that OpenSea believed the attack had only taken place on Saturday. But he warned that the company didn't yet know how users had been tricked into signing the trades.

OpenSea's chief technical officer Nadav Hollander added that 32 users having NFTs stolen over "a relatively short time period... suggests a targeted attack as opposed to a systemic issue."

Visa paid $150,000 (£110,000) for a blockchain


What is an NFT?


NFTs - which have surged in popularity over the last year - are a token of ownership attached to a blockchain.

They are essentially certificates similar to cryptocurrency coins and stored on the same blockchain ledgers.

However, whereas those coins are fungible - because they can be broken down into smaller units, for example 0.001 of a coin - an NFT certificate is non-fungible, because parts of it cannot be exchanged for anything else.

Some of the most sought-after, which some in the tech community liken to works of art, sell for tens of millions of dollars.

Their proponents claim they are a unique asset class while critics say the tokens are fundamentally valueless.

OpenSea, which brands itself as the world's largest NFT marketplace, offers its users an interface to purchase and sell NFTs.

Last year, payments company Visa paid $150,000 (£110,000) for a 'CryptoPunk' NFT as part of what the company called "a new chapter for digital commerce".

A recent report found that more than $44bn (£32bn) worth of cryptocurrency was sent to NFT-related smart contracts last year, up from just $106m (£78m) in 2020.

The report warned that fraudsters were making millions by artificially inflating the value of their tokens through a process known as wash trading.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×