OpenSea is reimbursing users who sold NFTs below market value due to UI issue (via Yogita_Khatri5)
— due to a user interface issue on the NFT marketplace. The buyer who poached the NFT then resold it immediately for nearly $200,000, making a profit of $198,000 within an hour.identified
This issue is a much bigger deal when the NFT in question has shot up in value between the times of the original offer and when it's moved back to the same wallet. While the user now believes their NFT to be worth hundreds of thousands of dollars , the NFT gets sold for their original price, which might be as low as a thousand dollars. And it's this discrepancy that's causing such misfortune.
OpenSea has had this UI design since its launch. But the flaw has only been noticed by attackers in the last few months. The OpenSea spokesperson said the company has not communicated broadly about this issue"because we did not want to risk bringing it to the attention of bad actors who could abuse it at scale before we had mitigations in place."
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