OpenSea Takes Jab at Bad Actors

OpenSea Takes Jab at Bad Actors

OpenSea announced a theft prevention solution via its official Twitter account on Thursday evening.

The Deets

The latest product innovation will introduce a three-hour grace period for offer acceptance and transfers of items, as hasty transfer and offer acceptance is often an indication of suspicious activity. However, NFT owners will be able to use security solution to override the feature and indicate a transfer was between mutually owned wallets.

🎤 Platform Prose

Speedy transfers and resales through offer acceptances can indicate suspicious activity. This timeframe helps OpenSea, our community, and theft victims detect stolen items while also lessening the chance that buyers end up with an item that's later reported stolen.OpenSea

❗Why It Matters

Security is always at the forefront of web3 conversations, particularly after the recent hack of PROOF founder Kevin Rose. While perhaps not a perfect solution, OpenSea's announcement showcases one way the leading marketplace is working to slow down scams and malicious actors. 

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