OpenSea is accused of having security flaws that allowed NFTs to be stolen. Two plaintiffs claim that the marketplace neglected to fix faults in its system that allowed the theft to occur, resulting in hundreds of thousands of dollars in damages.
A third user claims that OpenSea places “all the onus” on collectors to protect their own crypto wallet, which comes as the NFT industry is rife with thefts and frauds.
The lawsuits, which were first reported on by Vice, might set a precedent for how NFT-related theft and fraud accusations are handled in the future. The courtroom will be crucial in dealing with these complaints because there is no centralized authority and OpenSea appears to be doing nothing on its end to pay victims.